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| Bilfinger Berger says 2007 net profit rose by 46% German construction giant Bilfinger Berger said full-year output volume for 2007 was increased by 16% to €9,222 million. Due to new major projects in the construction business and strong growth in services activities, orders received increased by 13% to €11,275 million. The order backlog rose by 23% to €10,759 million. In 2007, all three of these key figures reached new record levels. Bilfinger Berger achieved a very positive development in earnings in 2007. EBITA increased by 34% to €242 million (2006: €180 million), net profit grew by 46% to €134 million (2006: €92 million). Despite significant investment activity cash and marketable securities remained at a high level of €796 million (2006: €783 million). Liabilities to banks, excluding project financing on a non-recourse basis, was reduced to €111 million (2006: €139 million). The positive development in earnings and unusually high advance payments received led to an increase in cash flow from operating activities to €325 million (2006: €207 million). Investments in property, plant and equipment rose to €204 million due to growth in the volume of business. Investment in financial assets of €64 million was primarily applied for acquisitions in the services business. These included the takeover of O'Hare, a provider of industrial services in the United Kingdom and, in addition, services entities in Germany, Switzerland, Austria and Spain. Over the course of 2007, equity investments in concession companies totaling €14 million were made. The Executive Board will propose to the Annual General Meeting that the dividend be increased by 44% to €1.80 (2006: €1.25) per share for the 2007 financial year. write your comments about the article :: © 2008 Construction News :: home page |