The Mannheim-based industrial services provider Bilfinger reported impressive Q2 results, with order intake surging 18% to €1.77 billion, signaling robust demand. Revenue rose 4% to €1.35 billion, driven by organic growth (2%) and strategic acquisitions, while EBITA climbed 6% to €74 million. The operating margin reached 5.5%, aligning with the target range of 5.2–5.8%. Despite stagnant net profit (€48 million), the company confirmed its 2025 outlook, forecasting revenues of €5.1–5.7 billion and a free cash flow of €210–270 million. CEO Thomas Schulz is set to unveil new mid-term targets through 2030 on December 2, hinting at ambitious plans.
Institutional Skepticism Emerges
While operational performance remains solid, Morgan Stanley reduced its stake marginally from 5.27% to 5.25%, raising questions about Bilfinger’s near-term upside. The move contrasts with the company’s strong pharma and oil/gas sector performance, suggesting institutional caution. Investors now await December’s strategy update to gauge whether Bilfinger can sustain momentum amid mixed signals.
