Bilfinger SE
XMUN:GBF

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Bilfinger SE
XMUN:GBF
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Price: 100.2 EUR -0.89% Market Closed
Market Cap: €3.4B

Bilfinger SE
Investor Relations

Bilfinger SE is an industrial services company that helps large plants run safely and efficiently. It does engineering, maintenance, repair, and technical support for customers that own complex facilities such as chemical plants, refineries, power plants, pharmaceutical sites, and other process industries. Its work often covers the full life of a plant, from design and installation to ongoing upkeep and shutdown work. The company sells services rather than finished products. It earns money through project contracts, long-term maintenance agreements, and specialized service jobs like mechanical work, piping, insulation, scaffolding, and automation support. Its main customers are industrial companies and utilities that need outside experts to keep critical equipment operating and to meet safety and compliance rules. Bilfinger’s role in the market is different from a manufacturer because it sits next to the customer’s plant and keeps the asset working day after day. That makes its business tied to the installed base of heavy industry and to recurring service needs, not just to one-time construction or equipment sales. In simple terms, it is a service partner for complex industrial facilities.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 4, 2026
AI Summary
Q4 2025

Performance: Orders received up 6% and revenue up 8% (4% organic) in 2025; EBITDA margin increased from 5.2% to 5.5% with Q4 at 6.1%.

Cash & Returns: Free cash flow jumped to EUR 330 million (75% increase); management proposes dividend of EUR 2.80 per share (up 17% from EUR 2.40).

Outlook: 2026 guidance: revenue EUR 5.4bn–5.9bn, EBITDA margin 5.8%–6.2%, and free cash flow EUR 250m–300m (midpoint emphasized).

Segments & Targets: New segment restatement; Western Europe guidance EUR 1.8bn–2.0bn (7.0%–7.4% margin), Central Europe EUR 2.5bn–2.7bn (5.8%–6.4%), International EUR 1.05bn–1.2bn (4.2%–5.0%).

M&A & Pipeline: Three acquisitions closed in 2025, one signing announced (Teknokon); management says funnel is strong and further deals likely.

Sustainability & Safety: Scope 1 & 2 intensity improved by -15% year-on-year; TRIF improved from 1.12 to 0.91 and LTIF from 0.32 to 0.18.

Risk & Geography: Middle East activity continues with decentralized operations; staff reported safe after recent events. U.S. government permit delays weighed on some North America work.

Working capital: Net trade assets over revenue improved to 8.3% from 9.6%, enabling a 110% cash conversion in 2025.

Key Financials
Orders received (2025)
up 6%
Revenue (2025)
EUR 5.4 billion
Order backlog
EUR 4.3 billion
Gross profit margin
11.3%
SG&A
6.3%
EBITDA margin (2025)
5.5%
EBITDA margin (Q4 2025)
6.1%
Free cash flow (2025)
EUR 330 million
Cash conversion (2025)
110%
Net profit (2025)
EUR 176 million
Net liquidity
EUR 146 million
Leverage (net debt / EBITDA)
0.3
Dividend per share (proposal)
EUR 2.80
Working capital (net trade assets / revenue)
8.3%
Opportunity pipeline (index)
roughly 110
Safety - TRIF
0.91
Safety - LTIF
0.18
Scope 1 & 2 intensity
-15%
Learning & development investment
>0.5% of revenue
Revenue by industry (shares)
Energy 24%; Chemicals & Petrochem 23%; Oil & Gas 18%
Gross profit absolute growth
13% increase in absolute gross profit
Segment revenue - Technologies (2025)
EUR 856 million
Segment revenue - International (2025)
EUR 742 million
Segment revenue - Western Europe guidance (2026)
EUR 1.8 billion–EUR 2.0 billion
Segment revenue - Central Europe guidance (2026)
EUR 2.5 billion–EUR 2.7 billion
Segment revenue - International guidance (2026)
EUR 1.05 billion–EUR 1.20 billion
Tax rate expectation (2026)
24%–25%
Number of acquisitions (2025)
3 acquisitions closed; 1 signing announced (Teknokon)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Matti Jakel
CFO & Member of the Executive Board
No Bio Available
Mr. Andreas Müller
Managing Director of Corporate Accounting & Tax and Investor Relations
No Bio Available
Ms. Bettina Schneider
Head of Investor Relations
No Bio Available
Anette Weidlich
Head of External Communications
No Bio Available

Contacts

Address
BADEN-WUERTTEMBERG
Mannheim
Oskar-Meixner-Strasse 1
Contacts
+496214590.0
www.bilfinger.com
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