Second quarter profit slips at Bilfinger

German contractor Bilfinger Berger reported a 2% year-on-year drop in output volume for the three months to the end of June to €4.03 billion. Net profit slipped 58% to €68 million.

The contractor signed orders worth €4.02 billion in the second quarter, a drop of 3% compared to the same period last year. The company's order backlog also fell 1% year-on-year to €7.43 billion.

Bilfinger, which announced in May plans to divest its concessions business segment, said it was operating in a market environment characterised by investment restraint and price pressure, particularly in the industrial, building and facility segments.

Nevertheless, it forecast renewed growth in output volume to €8.7 billion for full-year 2013, a slight increase on 2012, which saw output volume of €8.6 billion.

It also said it expected its full-year earnings before interest, tax and amortisation to rise this year. It said this would come as a result of increased output in its services segment, and measures to enhance efficiency and optimise costs across the company.