BERLIN (dpa-AFX) - Bilfinger Berger AG (BFLBY.PK) reported a 18% decline in group revenue for the third quarter, primarily due to the limitation in the number of projects available, especially in the North American market.
Adjusted net profit for the quarter was EUR 11 million or EUR 0.27 per share compared to EUR 17 million or EUR 0.41 per share last year.
Group revenue for the third quarter decreased organically by 18 percent to EUR 870 million from EUR 1.10 billion, but with a clear sequential improvement as expected, the company said.
However, the order backlog remained solid overall at EUR 2.46 billion versus EUR 2.62 billion, a slight decrease of 3% organically.
Further, the company affirmed the 2020 guidance published in mid-May, anticipating a revenue decrease of around 20% against the prior year's EUR 4.3 billion and adjusted EBITA substantially below the prior-year level or EUR 104 million, but still positive.
Although the company expects a negative net profit, it still sees a positive reported free cash flow in 2020 compared to the previous year's EUR 57 million.
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