Industrie: Bilfinger gibt Aufholjagd auf und streicht 1500 Stellen

Munich – Bilfinger, the Mannheim-based industrial service provider, has announced plans to cut 1,500 jobs globally, putting an end to their hopes of a second-half recovery. The company admitted that the Russia-Ukraine war has dragged on longer than anticipated, impacting their expectations. Bilfinger's CEO, Thomas Schulz, acknowledged the war's hold on their operations, despite hopes for a revival through infrastructure reconstruction in the Middle East.

However, customers in the third quarter also pulled back on new orders and existing contract work, putting pressure on profits as employees remained idle. To counteract this, Bilfinger is implementing a cost-cutting program called "Agile," aiming to adapt capacities to changing market conditions. This move is expected to increase the company's flexibility and responsiveness to future market shifts, such as the ongoing Middle East conflict.

The layoffs will reduce annual profits by €75 million, which will be recorded as provisions in the fourth quarter. In total, Bilfinger will have 31,000 employees, with 75 million euros in additional profits expected for 2028. However, 2026 revenue projections have been reduced to €5.3 to €5.7 billion (from the previous €5.4 to €5.9 billion).

The company now anticipates an Ebita margin of 3.2 to 3.6 percent, down from the previously targeted 5.8 percent. Despite the cost, Bilfinger's medium-term goals remain unchanged, with revenue growth of 8 to 10 percent per year by 2030 and an Ebita margin of 8 to 9 percent.