Bilfinger SE  / Key word(s): Forecast/Change of Personnel

04.08.2014 18:32

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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The Executive Board has decided today to reduce the forecast for financial
year 2014 which was published on June 30, 2014. With an anticipated output
volume of approximately EUR 7.8 billion, the Executive Board now expects an
adjusted EBITA in the magnitude of EUR 340 - 360 million, a reduction of
EUR 40 million. Accordingly, adjusted net profit is now expected to be
between EUR 205 million and EUR 220 million, a reduction of EUR 25 million.
The adjustment to the recently published earnings forecast is due primarily
to a further reduction of earnings expectations in the Power business
segment. This resulted, among other things, from a project loss in South
Africa that has only now come to light. The Executive Board now expects an
EBITA margin of between 4 and 5% in the Power business segment this year.

In today's preparatory meeting of the shareholder representatives for the
Supervisory Board meeting on August 7, 2014, the shareholder
representatives declared their agreement with the proposal from the
Chairman of the Supervisory Board that a recommendation be made to the
Supervisory Board in its meeting on August 7, 2014 to approve a mutually
agreed early departure of Roland Koch from the office of Chairman of the
Executive Board with effect from the end of August 8, 2014 and, pursuant to
Section 105 Paragraph 2 AktG (German Stock Corporation Act), with effect
from August 11, 2014 for the period until May 31, 2015, to assign Member of
the Supervisory Board Herbert Bodner to the Executive Board and to appoint
him as Chairman of the Executive Board in place of the departed Roland Koch
on an interim basis. There is agreement between Herbert Bodner, who has
expressed his willingness to accept this position, and the Chairman of the
Supervisory Board, Dr. h.c. Bernhard Walter, that the appointment of
Herbert Bodner to the Executive Board will end and he will immediately
resume his Supervisory Board duties as soon as a successor for the
Chairmanship of the Executive Board has been found. Roland Koch declared to
the Chairman of the Supervisory Board his willingness to offer the
Supervisory Board a mutually agreed early departure from his position with
effect from the end of August 8, 2014, in order to ease the path for new
confidence building following a second profit warning within a short period
of time and, simultaneously, to avoid disagreement on the evaluation of the
short-term corporate development and the resulting measures. The decision
on the change in the Executive Board is incumbent on the Supervisory Board,
which will make a resolution on the issue in its meeting on August 7, 2014.


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Language:     English
Company:      Bilfinger SE
              Carl-Reiß-Platz 1-5
              68165 Mannheim
              Germany
Phone:        +49 (0621) 459-0
Fax:          +49 (0621) 459-23 66
E-mail:       sabine.klein@bilfinger.com
Internet:     http://www.bilfinger.com
ISIN:         DE0005909006
WKN:          590900
Indices:      MDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
              Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München
 
End of Announcement                             DGAP News-Service
 
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