EANS-News: BAUER Aktiengesellschaft Annual General Meeting of BAUER AG: Broad
consensus on slight reduction in dividend
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Dividend Announcements/Distribution/Annual & Special Corporate Meetings
Subtitle: Dividend of EUR 0.50 per share passed
Group on a sound footing; forecast confirmed
Prof. Thomas Bauer reports on past financial year and looks to the future
with confidence.
Schrobenhausen (euro adhoc) - The Annual General Meeting of SDAX-listed
international construction and equipment manufacturing concern BAUER
Aktiengesellschaft was held today. It was attended by some 700 shareholders,
shareholder representatives and guests at the company's headquarters in
Schrobenhausen.
The Annual General Meeting passed all the resolutions proposed by the company's
management by a large majority. One of the resolutions passed was to pay a
dividend of EUR 0.50 per share, slightly down against the previous year (EUR
0.60). That represents a distribution of some EUR 8.57 million to the company's
shareholders. In the 2011 financial year the BAUER Group generated EBIT
(earnings before interest and taxes) of EUR 88.4 million from total Group
revenues of approximately EUR 1.372 million. The net profit for the period was
EUR 34.1 million.
In his report, Chairman of the Management Board Professor Thomas Bauer reviewed
what proved to be a troubled past year: "In 2011 the political unrest in the
Middle East, the earthquake, tsunami and nuclear disaster in Japan and the
resurgence of the financial crisis all had a negative effect on our business.
Our earnings were also impacted by problems on a number of major projects." He
warned also of the great challenges facing policy-makers, business and society
at large: "The ongoing financial market, sovereign debt and Euro crises will
take the world a long time to overcome."
The current financial year has begun positively for the company's Construction
segment, with healthy levels of orders in hand. The Resources segment, too, is
expected to see strong growth in revenues. Its earnings will remain depressed by
a project in Jordan however. In its Equipment segment, the BAUER Group continues
to be hampered by customers' reluctance to invest in new equipment. Professor
Bauer reaffirmed the company's forecast for the full year: total Group revenues
of EUR 1,450 million; EBIT of around EUR 85 million; and net profit for the
period of around EUR 35 million.
Professor Bauer was optimistic about the future of the BAUER Group: "Our
business is on a sound footing both strategically and operationally, and has
proved its strength over the past year. Thanks to our international presence,
our future-proof portfolio of specialist services and our new products, we are
well able to deal with any external disturbances which may occur."
The results of the vote and the presentation by the Chairman of the Management
Board can be found in the Investor Relations section of the company's website at
www.bauer.de.
About Bauer
Bauer is a provider of services, machinery and ancillary products in the
earth-working and groundwater fields. The Group markets its products and
services all over the world. Its global spread allows it to remain largely
unaffected by fluctuating business cycles.
Its business is divided into three segments: Construction, Equipment and
Resources. The Construction segment carries out specialist foundation
engineering work for complex excavation pits and foundations on major
infrastructure and building projects all over the world, installing retaining
walls and carrying out ground improvement works as well as providing related
project development services. Bauer's Equipment segment, a world market leader,
offers a comprehensive range of construction machinery, equipment and tools for
the specialist foundation engineering sector as well as for other underground
drilling operations, such as for mines, water wells, geothermal energy sources,
and oil and gas extraction. The Resources segment bundles the Group's activities
in the fields of water, energy, mineral resources and environmental technology.
Bauer profits greatly from the collaboration between its three separate
segments, enabling the Group to position itself as an innovative, highly
specialized provider of complete solutions and services for demanding projects
on the specialist foundation engineering and related markets.
Founded in 1790, Bauer today generates around three quarters of its total
revenues outside of Germany. Employing some 9,700 people, the Group's total
revenues in 2011 were approximately EUR 1.4 billion (previous year: EUR 1.3
billion). BAUER Aktiengesellschaft has been listed on the official market of
the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard, ISIN
DE0005168108).
You can also visit us on YouTube: http://www.youtube.com/BAUERGruppe
Further inquiry note:
Christopher Wolf
Investor Relations
Tel.: +49 8252 97 1797
E-Mail: christopher.wolf@bauer.de
end of announcement euro adhoc
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company: BAUER Aktiengesellschaft
BAUER-Straße 1
D-86529 Schrobenhausen
phone: +49 (0)8252-97-1797
FAX: +49 (0)8252-97-2900
mail: investor.relations@bauer.de
WWW: http://www.bauer.de
sector: Construction & Property
ISIN: DE0005168108
indexes: SDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English