BERLIN (dpa-AFX) - German engineering group Bilfinger SE (BFLBY.PK) reported that its first-quarter net loss narrowed to 24 million euros from 55 million euros in the year-ago period.
Adjusted loss per share narrowed to 0.17 euros from 0.26 euros in the previous year.
Adjusted EBITA was negative 6 million euros, compared to negative 14 million euros in the prior year.
Revenue for the quarter declined 3 percent to 928 million euros from 961 million euros in the prior-year period, while it grew 1 percent on an organic basis.
The company said it received 1.10 billion euros of orders in the quarter, up 19 percent from the last year's 928 million euros, while it was rose 21 percent on organic basis, after adjustments for disposal and exchange rate effects.
Looking ahead, Bilfinger confirmed its outlook for financial year 2018. The company projects organic growth in orders received in the mid single-digit percentage range and revenue development to be organically stable to slightly growing.
The company also expects adjusted EBITA for the year to increase significantly. The Group anticipates a figure in the mid to higher double-digit million-euro range, compared to the previous year's 3 million euros.
At today's Annual General Meeting, the Executive Board and the Supervisory Board will propose a dividend of 1.00 euro per share for financial year 2017 to be distributed.
Following successful digital pilot projects with Münzing Chemie and CABB as well as ongoing projects with well-known industrial companies like Siegfried, Bilfinger said it is concentrating its innovative digitalization business in a new subsidiary 'Bilfinger Digital Next' as of July 1.
This unit will be the center of competence for digitalization, a place within the Group where experts and knowledge are brought together. This step is part of the Strategy 2020.
Copyright RTT News/dpa-AFX