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Bilfinger (GBF) investor relations material
Bilfinger Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Orders received rose 18% year-over-year to €1,774 million, with organic growth of 16%, marking a record high.
Revenue increased 4% year-over-year to €1,353 million, with EBITA margin improving to 5.5% from 5.4%.
Free cash flow more than doubled to €53 million from €26 million year-over-year.
Net zero targets approved by the Science Based Targets initiative, aiming for 90% GHG reduction by 2050.
Outlook and midterm targets confirmed, with new targets to be announced at Capital Markets Day in December.
Financial highlights
Net profit for Q2 was €47.6 million, with EPS of €1.28, in line with the previous year.
Adjusted net profit rose 29% to €49.7 million; adjusted EPS up 29% to €1.34.
Gross profit margin rose to 11.5% from 10.7% year-over-year.
EBITDA grew 7% to €105.4 million; EBITA up 6% to €74.2 million.
Free cash flow year-to-date was €160 million, with a strong run rate and higher H2 profitability expected.
Outlook and guidance
Full-year 2025 revenue expected at €5.1–5.7 billion, EBITA margin 5.2–5.8%.
Free cash flow guidance: €210–270 million, including special items.
Mid-term targets (2025–2027): revenue CAGR 4–5%, EBITA margin 6–7%, >80% cash conversion.
Segment guidance: E&M Europe EBITA margin 5.8–6.4%, E&M International 2.0–4.0%, Technologies 6.3–6.8%.
High order backlog provides 85-90% revenue coverage for 2025, with strong visibility into 2026.
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