In This Article:
-
Revenue: Increased by 12% to more than EUR5 billion for 2024.
-
EBITDA Margin: Improved from 4.3% to 5.2%, a 39% increase.
-
Free Cash Flow: Increased by 55% to EUR189 million.
-
Earnings Per Share: EUR4.79 for the full year 2024.
-
Dividend Proposal: EUR2.40 per share for 2024.
-
Orders Received: Up by 13% to EUR5.3 billion.
-
Order Backlog: Reported a 22% improvement.
-
Net Profit: Adjusted net profit increased to EUR169 million.
-
Cash Conversion Rate: 71%, with an adjusted rate of 88%.
-
Net Debt/EBITDA: 0.54%, well below the 2.00 upper ceiling.
Release Date: March 04, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Bilfinger SE (BFLBF) achieved all financial targets for 2024, with orders received up by 13% and revenue up by 12%.
-
EBITDA margin improved from 4.3% to 5.2%, indicating a solid financial performance.
-
The company reported a significant increase in free cash flow, from EUR122 million to EUR189 million, marking a 55% improvement.
-
Bilfinger SE (BFLBF) maintained a positive cash flow for six consecutive quarters, showcasing effective working capital management.
-
The company proposed a dividend of EUR2.40 for 2024, reflecting a payout ratio of 53% in line with its dividend policy.
Negative Points
-
The LTIF (Lost Time Injury Frequency) indicator showed a negative trend, highlighting a deterioration in occupational safety.
-
EBITDA margin in the international segment decreased from 5.4% to 1.6% in Q4 due to risk provisioning for discontinued projects in North America.
-
Orders received in the international segment dropped by 22%, partly due to slowed decision-making in the US following a new administration.
-
The company faces challenges in the chemical and petrochemical industries, particularly in Germany, due to regional differences and market conditions.
-
The guidance for 2025 includes a broad range for revenue and EBITDA, reflecting uncertainties in economic scenarios and political decisions.
Q & A Highlights
Q: Can you provide more details on the broad range of guidance for 2025, especially concerning the segment Europe? A: Thomas Schulz, CEO: The range is influenced by various factors, including political decisions and economic scenarios. In the US, delays in government approvals could impact the lower end of our guidance. The Middle East is performing as expected, with opportunities for growth. In Europe, the outcome of the German election and subsequent infrastructure investments will significantly affect our performance. If these investments materialize, we could see growth towards the higher end of our guidance.