en.Wedoany.com Reported - Bilfinger has released its Q2 2026 results: revenue grew by 7% year-on-year to €1.45 billion, with order intake recording its third-highest level in a decade. The company expects business to gradually pick up in the second half of the year.
The quarterly book-to-bill ratio stood at 1.03, providing support for a business recovery in the second half of the year. Order intake amounted to €1.498 billion, down 16% year-on-year, compared with €1.774 billion in the same period last year. Revenue increased to €1.45 billion from €1.353 billion in the prior-year period, with organic growth of 4%. Business activity in the energy and related industrial sectors was the main driver of revenue growth. Gross profit was €155 million, flat year-on-year; selling and administrative expenses improved to 6.1% of revenue, compared with 6.3% in the prior-year period. Lower advance payments and timing effects weighed on free cash flow, which came in at €48 million for the quarter, below the €53 million recorded in the prior-year period.
The EBITA margin declined to 5.3% from 5.5% in the prior-year period, but absolute EBITA grew by 4%, rising to €77 million from €74 million in the prior-year period. Driven by an improved tax rate, group net profit increased by 14% to €54 million, compared with €48 million in the prior-year period; earnings per share rose by 15% to €1.47, compared with €1.28 in the prior-year period.
Bilfinger CEO Thomas Schulz stated that the market environment in the second quarter was impacted by geopolitical uncertainties, but business momentum has already shown signs of recovery in the second half of the year; stronger market dynamics and the company's ongoing growth initiatives will support this. He also expressed gratitude to approximately 31,000 dedicated employees worldwide, including new colleagues from the recently acquired business in Turkey.
The ongoing conflict in the Middle East affects the company's operations in two ways: in the Middle East, local business activity is directly suppressed; in Europe, the conflict has led to energy price volatility, prompting customers to delay investment decisions. Bilfinger expects business to gradually recover in the second half of 2026 and is currently in concrete discussions with customers in the Middle East regarding the reconstruction of damaged infrastructure and the recommissioning of production facilities. As of the end of the second quarter, all business segments showed positive trends, with outsourcing potential continuing to grow in the chemicals and petrochemicals, energy, oil and gas, and pharmaceutical and biopharmaceutical sectors.
On April 1, 2026, Bilfinger completed the acquisition of the main business divisions of Turkey's Teknokon Group, which will enable the company to use Turkey as a core hub for exploring new business opportunities in neighboring regions. Through the successful issuance of a bond loan, Bilfinger has gained greater financial flexibility in implementing strategic initiatives such as acquisitions; due to exceptionally high demand in the capital markets, the issuance volume was tripled from its initial target to €450 million.
In the second quarter, Bilfinger also secured several orders aimed at enhancing customer efficiency and sustainability: installation of a combustion air preheating system for a large integrated refinery of an oil and gas group in the Netherlands to improve plant efficiency; engineering, installation, and commissioning services for the integration of EWE Hydrogen's new 320 MW hydrogen production plant in Germany; and a gold production expansion project for Turkey's Gübretaş, encompassing mechanical and electrical installation works as well as insulation services.
Bilfinger confirmed its fiscal 2026 outlook: revenue of €5.4 billion to €5.9 billion, compared with €5.427 billion in the prior year; EBITA margin of 5.8% to 6.2%, compared with 5.5% in the prior year; free cash flow of €250 million to €300 million, compared with €330 million in the prior year. Given the business performance in the first half of the year, the company expects the EBITA margin to come in at the lower end of the guidance range. The outlook already includes the consolidation of the Teknokon Group from April 1. The company stated that this outlook represents a step in the process toward its 2030 medium-term targets.
