BERLIN (dpa-AFX) - German Industrial services provider Bilfinger (BFLBY.PK) reported Tuesday that its first-quarter net profit was 10 million euros, compared to last year's net loss of 24 million euros.
Reported EBITA was positive 9 million euros, compared to negative 20 million euros a year ago.
Bilfinger achieved positive adjusted EBITA of 11 million euros, compared to last year's negative 11 million euros. Adjusted EBITA margin was 1.3 percent, compared to prior year's negative 1.2 percent.
Revenue declined 9 percent to 833 million euros from 915 million euros last year. Organically, revenues fell 5 percent.
Orders received amounted to 1.001 billion euros, down 5 percent from prior year's 1.060 billion euros.
Further, the company confirmed fiscal 2021 outlook, expecting significant revenue growth from last year's 3.46 billion euros.
The company anticipates a substantial improvement in the Group's reported EBITA from prior year's negative 57 million euros due to significantly lower expenses recognized as special items.
Bilfinger also expects a substantial improvement in adjusted EBITA from 20 million euros last year.
The adjusted EBITA margin will return to the pre-crisis level of financial year 2019 at 2.4 percent, although revenue in 2021 is expected to be significantly below 2019.
Copyright RTT News/dpa-AFX