EANS-News

BAUER Aktiengesellschaft / BAUER AG performing fully to plan after first quarter

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Financial Figures/Balance Sheet/quarterly report/3-month report

Subtitle: • Total Group revenues up 10.6 percent to EUR 340.0 million
• Orders in hand up 12.0 percent to EUR 751.6 million • After-tax
loss of EUR 4.8 million as expected due to seasonal factors; EBIT of
EUR 6.2 million slightly down year-on-year • Full-year forecast for
2012 reaffirmed

Schrobenhausen (euro adhoc) - International construction engineering
and machinery manufacturing concern BAUER Aktiengesellschaft is
performing fully to plan as at the end of first quarter 2012. Total
Group revenues rose in the first three months of the year by 10.6
percent from EUR 307.5 million to EUR 340.0 million. Orders in hand
increased by 12.0 percent to EUR 751.6 million (previous year: EUR
671.3 million). The increase is primarily related to large-scale
construction projects.

As expected, the BAUER Group had to combat the after-effects of last
year's disturbances, which hampered results. Weather conditions also
had an effect, as did the usual seasonal tendency of customers to be
cautious in placing orders at the start of the year. This is a trend
that has increased due to the financial turbulence of recent years.
As a consequence, earnings were slightly down against the previous
year comparative period. While EBIT (earnings before interest and
taxes) of EUR 6.2 million was only slightly down on the previous year
comparative of EUR 6.7 million, an after-tax loss of EUR 4.8 million
was made (previous year: after-tax loss of EUR 2.6 million). This is
in line with the normal seasonal trend in the Group's business,
featuring a weaker start to the year which is then balanced out over
the subsequent months.

Business segments

With its three segments - Construction, Equipment and Resources - the
Group operates a widely diversified yet well-balanced business model
and an international network.

The Construction segment has had a good start to the year. Major
projects in Hong Kong and Malaysia, especially, contributed to a 26.1
percent rise in total Group revenues from EUR 124.4 million to EUR
156.9 million. A further factor was that massive disturbances
relating to the "Arab Spring" had resulted in relatively low revenues
last year. A better ratio of fixed costs to revenues resulted in an
improvement in EBIT from EUR -1.3 million to EUR 2.2 million.

The Equipment segment continued to feel the impact of customers