Bilfinger: Supervisory Board Approves Strategy 2020 - Quick Facts

(RTTNews) - Bilfinger SE (BFLBY.PK) said, under the new strategy 2020, the Group expects its output volume will decrease again in 2017, the organic decline to be in the mid to high single digit percentage range. Bilfinger expects a further improvement in adjusted EBITA margin of about 100 basis points.

After 2017, Bilfinger plans an annual average output volume growth of more than 5 percent until 2020, adjusted for changes in currency exchange rates and the consolidation perimeter, as well as an adjusted EBITA margin of approximately 5 percent in 2020.

The company said its operational services shall be pooled in the two business segments Engineering & Technologies (E&T) and Maintenance, Modifications & Operations (MMO). In future, Bilfinger will concentrate on the four regions Continental Europe, Northwest Europe, North America as well as Middle East. The company will focus on six industries: chemicals & petrochemicals, energy & utilities, oil & gas, pharma & biopharma, metallurgy and cement.

The Executive Board of Bilfinger intends to propose to the next general meeting a dividend of 1.00 euros per share with dividend entitlement for fiscal 2016. The Executive Board intends to have a floor in the amount of 1.00 euros per share with dividend entitlement with respect to the dividends of the following financial years and otherwise pursues a sustainable dividend policy based on a 40 to 60 percent pay-out ratio of the adjusted net profit.

The Executive Board also intends to cancel the current treasury shares held by Bilfinger less the shares required for employee stock programs, to resolve on a share buyback program, under which the company in 2017 and 2018 buys back shares in equivalent value of up to 150 million euros.