Bilfinger meets targets: Optimistic

The German construction and engineering company Bilfinger said on Monday it expected business to continue to develop this year after it met all its targets in 2012. "We achieved the goals we set ourselves in 2012 and we anticipate positive developments in all business segments in the year 2013," the firm said in a statement. Last year, output rose by 2.0 percent to 8.648 billion euros ($11.6 billion) and incoming orders rose by 7.0 percent to 8.348 billion euros, the statement said. Net profit dropped by 30 percent to 275 million euros, but the year-earlier figure included operations which Bilfinger has since sold. On a comparable basis, bottom-line profit rose by 25 percent, the company said. Underlying profit, as measured by earnings before interest, tax and amortisation (EBITA), rose by 17.0 percent at 466 million euros. Looking ahead, Bilfinger said it expected output to "increase again in 2013" and both EBITA and net profit will also "continue to increase." The construction firm said it would propose a dividend of 3.00 euros per share for 2012. For 2011, it had paid a dividend of 2.50 euros, plus a one-off bonus of 0.90 euros from the capital gain of the sale of its Valemus unit in Australia.