Bilfinger falls after cutting 2026 outlook for the second time

Bilfinger SE

17/09/2026 07:16

** Shares in German industrial services group Bilfinger GBFG.DE are down 9.7% in early Frankfurt trade after the company lowered its 2026 outlook for the second time, citing weaker-than-expected H2 business performance and geopolitical uncertainty
** Bilfinger now expects 2026 revenue of €5.3 billion ($6.08 billion) to €5.7 billion, down from prior forecast of €5.4 billion to €5.9 billion 
** The company cut its 2026 EBITA margin outlook to 3.2%-3.6% from 5.8%-6.2% previously, and expects 4.6%-5.0% on an adjusted basis after one-off costs linked to its new "Agile" program
** The company says "Agile" program will carry one-off earnings costs of about €75 million in 2026, but is expected to contribute about €75 million annually from 2028
** Bilfinger also lowered free cash flow guidance but confirmed its 2030 mid-term targets
** The company had lowered its 2026 margin expectations in August following its second-quarter results
** Up to the previous session's close, shares were down 29.7%​ YTD
     
     
     
($1 = 0.8724 euros)

(Reporting by Basile Day)
((Basile.Day@thomsonreuters.com))