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PRESS RELEASE: BAUER Aktiengesellschaft: BAUER AG reports third-quarter net loss due to one-off effects

DGAP-News: BAUER Aktiengesellschaft / Key word(s): Quarter Results/Interim Report BAUER Aktiengesellschaft: BAUER AG reports third-quarter net loss due to one-off effects

14.11.2013 / 07:00

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- Total Group revenues of EUR 1,109.5 million 4.4 percent up on previous year

- Orders in hand up 6.7 percent to EUR 836.7 million

- After-tax loss of EUR 21.4 million significantly lower than previous year profit of EUR 6.6 million

- Adjusted full-year forecast due to one-off effects: Total Group revenues unchanged at around EUR 1.5 billion, EBIT around EUR 25 million, and net loss of approximately EUR 20 million

Schrobenhausen - BAUER Aktiengesellschaft today published its third-quarter interim report. As already indicated by an ad-hoc release on October 28th, the global construction engineering and machinery manufacturing concern has had to adjust its 2013 forecast, and now predicts a net loss for the year. The reasons lie in a number of one-off effects, primarily relating to a well construction project in Jordan. Expected earnings from the Group's Equipment and Construction segments have additionally been reassessed, and the adjusted forecast now incorporates restructuring expenditure as part of a cost-cutting programme.

In the first nine months of this financial year, the total revenues of the BAUER Group increased by 4.4 percent against the previous year comparative period (EUR 1,063.2 million) to EUR 1,109.5 million. EBIT fell from EUR 45.7 million to EUR 13.4 million. The net loss for the period of EUR 21.4 million represents a EUR 28.0 million decline against the previous year's net profit of EUR 6.6 million. Orders in hand continued to develop healthily, rising by 7.9 percent against the previous year to EUR 836.7 million.

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