Bauer AG records ‘positive’ earnings for start of 2022

By Catrin Jones12 May 2022

Foundations drilling specialist the Bauer Group have recorded a “positive” start to 2022 with revenues having increased by 17.2% year-on-year from €356.6 million, to €417.9 million.

(Photo: AdobeStock)

At €4.1 million, EBIT was significantly higher than the figure of €1.8 million, for the same period in the previous year. At €1.6 million, the group’s earnings after taxes were well above the previous figure of €-5.1 million and were positive again in the first quarter for the first time in many years.

Bauer says that this was due to the better operating result and the development of market interest rates for interest rate hedging transactions, which was more favourable for the company.

In the construction segment, the first few weeks of the year were somewhat more restrained, especially in international business, but were in line with expectations. The Resources segment started the current year as planned says the company.

At €183.8 million, the total group output in the construction segment was 8.3% above the previous year’s figure of €169.7 million. The increase is based on the significantly higher order backlog compared to the previous year. 

“This positive business development is mainly due to the machinery segment. A positive trend was already apparent there in the fourth quarter of last year, which continued at the beginning of 2022,” said Michael Stomberg, CEO of Bauer AG.

The company continues to expect a significant increase in total group revenues for the 2022 financial year.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Construction Europe Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
More News from Construction Europe
Next-gen Rokbak haulers in development
Company showcases fuel-efficiency and low emissions with RA30 and RA40 articulated models 
REMOTE CONTROL TECHNOLOGY ENABLES OPERATORS TO BUILD ENGAGING CAREERS AS HEAVY EQUIPMENT SYSTEM MANAGERS.
HOW CAT® COMMAND REMOTE CONTROL TECHNOLOGY IS helping to combat THE HEAVY EQUIPMENT OPERATOR SHORTAGE. As the equipment operator shortage continues, remotely controlled equipment offers a promising solution. Dan Hellige, Caterpillar Worldwide Marketing Manager for Construction & Digital Technologies, is excited about the ability remote control technologies have to help attract and retain a generation of operators to the construction industry. Additionally, Cat® Command technologies enhance safety in hazardous work environments and help to increase productivity.
Balfour Beatty goes all electric on live site for the first time
Company trials going all-electric on Scotland-based project
CONNECT WITH THE TEAM
Mike Hayes Editor, Construction Europe Tel: +44 (0)1892 786 231 E-mail: mike.hayes@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA