BERLIN (dpa-AFX) - Bilfinger SE (BFLBY.PK), a German industrial services provider, reported Tuesday sharply lower profit in its fourth quarter, while EBITDA, a key earnings metric, grew from last year with higher revenues.
Further, the Executive Board and the Supervisory Board will propose a dividend of 2.40 euros per share to the Annual General Meeting on May 14, higher than prior year's 1.80 euros per share.
Looking ahead, for fiscal 2025, the company said it remains on track for sustainable profitable growth.
Bilfinger expects revenue of between 5.1 billion euros and 5.7 billion euros, compared to prior year's 5.04 billion euros. EBITA margin for the year would be 5.2 to 5.8 percent, compared to prior year's 5.2 percent.
The outlook reflects significant progress toward achieving the mid-term targets.
Bilfinger has confirmed its mid-term targets, including an EBITA margin of 6 to 7 percent, cash conversion of at least 80 percent and average annual revenue growth of 4 to 5 percent.
For the fourth quarter, net profit fell 52 percent to 52 million euros from last year's 108 million euros. Earnings per share dropped to 1.38 euros from 2.89 euros a year ago.
EBITA, however, grew 8 percent year-over-year to 75 million euros, and EBITDA went up 10 percent to 109 million euros.
EBITA margin, meanwhile, dropped to 5.5 percent from 5.8 percent last year.
Revenue for the quarter grew 14 percent to 1.36 billion euros from 1.20 billion euros a year earlier. Organically, revenues increased 2 percent.
Orders received up 8 percent to 1.34 billion euros from prior year's 1.24 billion euros. Organically, orders fell 5 percent.
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