Bauer, equipment maker for ground investigation work, reports third quarter 2017 total group revenue up 22% on the previous year to just over €1,398 million.
The German company said sales revenues increased by 27.5% to €1,265.6 million.
However, the order backlog was €977.3 million that, while still high, was down from €1,019.0 million the previous year. This was due to a high double-digit million order backlog taken off the books after the sale of shares in a real estate company at the end of 2016. “Without this effect, the orders in hand were higher than the previous year's level,” the company said.
The Bauer group operates through more than 110 subsidiaries in 70 countries. The group’s three business segments have developed differently over the past year. Construction and resources segments remained behind expectations with their earnings, but the equipment segment showed a “significant increase”.
The company confirms its forecast for the year, which it had slightly raised in August with respect to total group revenues. Predicted total group revenues are around €1.8 billion.
"The construction segment is showing continued stable growth worldwide and the demand for complex specialist foundation engineering projects will continue to grow due to the continuing urbanisation and the rising complexity of infrastructures,” said Thomas Bauer, group chairman.