Bilfinger Berger wants to double profits in the mid to long term (DE)

Bilfinger Berger AG´s chief executive Herbert Bodner said he wants to double profits in the mid to long term, the Financial Times Deutschland reported.

Bodner said he expects this to occur as Australia contributes more to the company´s earnings, the newspaper said, citing remarks he made at an event there.

Last year, Germany´s second largest construction firm posted an operating profit of 101 mln eur.

However, it said last month it will miss its full-year operating profit target of 115 mln eur after booking 50 mln eur in provisions because of construction delays on a Toledo, Ohio, bridge project.

Australia is Bilfinger Berger´s second largest market, accounting for 25 pct of the company´s overall sales.

It is also the second largest construction firm there, with its Baulderstone Hornibrook and Abigroup units accounting for an annual output of about 2.5 bln aud, the paper wrote.
Source: Freeman

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