Bilfinger surges on better-than-expected FY results, upbeat outlook

Bilfinger SE

14/02/2023 09:04

** Shares of Bilfinger  GBFG.DE  jump 11.5%, set for best
day in almost three years, after the German industrial services
provider released better-than-expected FY results, upbeat
outlook
    ** "Bilfinger reported FY22 sales, EBITA and dividend
proposal above expectations," a local trader notes
    ** The trader also points to the company's 2023 guidance,
confirmed FY24 margin target, and new mid-term margin and growth
targets, overall deeming the release "clearly more positive than
hoped"   
    ** The company reports FY revenue of 4.31 billion euros 
($4.63 billion), up 14% organically, and FY EBITA of 75 million
euros compared to 121 million euros a year earlier
    ** Bilfinger guides for sales of 4.3-4.6 billion euros and
EBITA margin of 3.8% to 4.1% in 2023, while it targets 6%-7%
EBITA margin and 4% to 5% yearly growth by 2025/2027
    ** The stock is among top performers on German small-caps
index  .SDAXI 
($1 = 0.9318 euros)
 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))