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| Bilfinger Berger reports 2010 FY financial results Bilfinger Berger, Germany's second largest builder, successfully closed out the 2010 financial year. Output volume increased by 5 percent to €8,123 million. The share accounted for by the services business grew to about 80 percent. Orders received rose by 5 percent to €8,048 million and order backlog expanded by 3 percent to €8,585 million. EBIT rose by 98 percent to €343 million while earnings after taxes increased to €208 million. Discontinued operations in Australia achieved earnings after taxes of €79 million. Net profit doubled to €284 million. The Executive Board and Supervisory Board will propose to the Annual General Meeting on May 31, 2011 in Mannheim that a dividend of €2.50 per share be approved for financial year 2010. The total dividend paid out to the shareholders will thus rise from €88 million to €110 million. As part of the focus of construction activities on Europe, Bilfinger Berger sold its Australian subsidiary Valemus in 2010. The transaction was completed as planned in the first quarter of 2011. As a further step, the Group intends to reduce its activities in Nigeria. For financial year 2011, Bilfinger Berger expects its successful development to continue. Output volume and EBIT – not including potential acquisitions - will reach at least the level of 2010. The sold activities in Australia contribute to net profit up until completion of the transaction at the beginning of March 2011. In addition, there is a capital gain of approximately €160 million. Due to good operating profit and the capital gain, net profit in 2011 will be significantly higher than the prior year figure. write your comments about the article :: © 2011 Construction News :: home page |