BERLIN (dpa-AFX) - Bilfinger (BFLBY.PK), a German company focused on construction, engineering, and services, reported that its fourth quarter net profit was 108 million euros compared to a loss of 6 million in the previous year. Earnings per share were 2.89 euros compared to a loss per share of 0.17 euros last year.
Quarterly revenues were 1.195 billion euros compared to 1.198 billion euros in the previous year. Orders received for the quarter declined to 1.24 billion euros from 1.27 billion euros in the prior year.
The Executive Board and Supervisory Board will propose to the Annual General Meeting on May 15, 2024 an increased dividend of 1.80 euros per share compared to 1.30 euros per share paid last year.
For 2024, Bilfinger expects revenue to be between 4.50 billion euros and 4.80 billion euros compared to 4.49 billion euros reported in 2023. The Group's profitability will continue to rise, with an EBITA margin of 4.9% to 5.2%. This increase is the result of the positive effects of the efficiency program, growth and consistent de-risking.
Bilfinger confirmed its mid-term targets for 2025 to 2027, which include an EBITA margin of 6% to 7%, a cash conversion of at least 80% and average annual revenue growth of 4% to 5%.
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