Growth in its construction division helped ground engineering contractor and equipment manufacturer Bauer to post a 5.4% increase in revenues last year and is anticipating further growth in 2103.
The company reported sales of €1.44bn (£1.22bn) for the full year in 2012 and a 4.7% rise in orders in hand to €785M (£668M), giving confidence in its forecast for revenues of €1.5bn (£1.27bn) this year.
“The fact that our group has a presence all over the world and offers a broad range of products and services relating to ground and groundwater has proved advantageous to us,” said Bauer chairman of the board Thomas Bauer. He added that the company has met its forecast targets for 2012 despite problems on some of Bauer’s larger projects.
The growth came from the construction business which “improved its performance significantly after a decline in 2011”. However, revenues from its equipment division fell further in 2012 but Bauer expects to see slight growth in 2013 thanks to new developments such as its specialist foundation engineering cranes and deep drilling rigs for oil, gas and geothermal energy extraction.
Bauer predicts that it will achieve annual growth of between five and 10 percent over the next two financial years, but owing to the persisting risks arising from volatile markets and in relation to some large projects, the company does not expect to deliver a substantial improvement in earnings in that period.