Corrected: BRIEF-Bilfinger Resolves Efficiency Program, Plans Savings Of Around EUR 55 Million Per Annum

Bilfinger SE

08/11/2022 16:56

(Adds missing word to the headline)
       Nov 8 (Reuters) - Bilfinger SE  GBFG.DE :
    * EQS-ADHOC: BILFINGER SE: EFFICIENCY PROGRAM RESOLVED.
SAVINGS OF
AROUND €55 MILLION P.A. BY END OF 2023 WITH ONE-OFF COSTS OF
AROUND €60 MILLION WITH CORRESPONDING NEGATIVE IMPACT ON
EARNINGS FOR 2022
    * BILFINGER SE - EBITA FOR FULL YEAR 2022 WILL THEREFORE BE
NEGATIVELY IMPACTED BY AROUND EUR 60 MILLION, WHICH IS WHY EBITA
IS EXPECTED TO BE SIGNIFICANTLY LOWER THAN IN PRIOR YEAR
    * BILFINGER SE - OPERATIONALLY, OUTLOOK FOR FULL YEAR IS
CONFIRMED, ALSO ON BASIS THAT BILFINGER'S DEVELOPMENT IN Q3 OF
2022 WAS STABLE AS EXPECTED.
    * BILFINGER SE - BILFINGER EXPECTS UNCHANGED FOR FULL YEAR
2022 A
SIGNIFICANT INCREASE IN REVENUE (2021: EUR 3,737 MILLION)
    * BILFINGER SE - EXPECTS UNCHANGED FOR FULL YEAR 2022 A
SIGNIFICANT INCREASE IN OPERATIONAL CONTRIBUTION TO EBITA (2021:
EUR 121 MILLION) AS WELL AS A FREE CASH FLOW ON PRIOR YEAR LEVEL
(2021: EUR 115 MILLION).
    * BILFINGER SE - SAVINGS OF AROUND EUR 55 MILLION P.A. WILL
BE
REALIZED BY END OF 2023, OF WHICH AROUND A QUARTER WILL BE
REINVESTED ANNUALLY IN EDUCATION AND TRAINING.
    * BILFINGER SE - EFFICIENCY PROGRAM IS ACCOMPANIED BY
ONE-OFF
COSTS OF AROUND EUR 60 MILLION, FOR WHICH A PROVISION IS CREATED
IN Q4 2022.

Source text for Eikon:  ID:nEQ1b3c0ba 
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