EANS-News: BAUER Aktiengesellschaft / BAUER AG with first half-year growth in total Group revenues and a more cautious outlook

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Company Information/quarterly report/6-month report

Subtitle: • Total Group revenues up 7.9 percent to EUR 639.9 million
• Orders in hand up 2.5 percent to EUR 671.1 million
• EBIT: EUR 28.3 million (previous year: EUR 27.2 million)
• After-tax profit: EUR 5.6 million (previous year: EUR 6.1 million)
• Forecast adjusted to more muted market expectations

Schrobenhausen (euro adhoc) - BAUER Aktiengesellschaft achieved
growth in total Group revenues and in earnings in the first half of
the current financial year.

Total Group revenues were up 7.9 percent against the previous year
comparative period to EUR 639.9 million. Earnings before interest and
taxes (EBIT) increased by 3.9 percent to EUR 28.3 million. After-tax
profit of EUR 5.6 million was just short of the previous year's level
of EUR 6.1 million. The main reasons for this were the ongoing
political unrest in Middle Eastern countries as well as delays beyond
the company's control to construction projects in other countries.
These trends have led the international construction and machinery
manufacturing concern to adjust its market expectations for the
second half of the year slightly.

The Group's Construction segment has been particularly affected by
the unrest and the project delays. Its total Group revenues of EUR
262.2 million were 10.4 percent down against the previous year's
comparative figure of EUR 292.8 million. Segment EBIT fell from EUR
9.6 million to EUR 3.0 million. Orders in hand at the end of June
remained at a high level, totalling EUR 350.7 million (previous year:
EUR 383.1 million). The segment's major projects include the
remediation of the dam on Lake Okeechobee in Florida in the USA,
excavation pits for an underground railway system in Panama and for
the London Underground in England, as well as specialist foundation
engineering works for large-scale infrastructure projects in Hong
Kong and Malaysia.

The Equipment segment increased its total Group revenues by 28.1
percent to EUR 322.7 million (previous year: EUR 252.0 million).
Segment EBIT rose by EUR 6.9 million to EUR 23.2 million. Orders in
hand were down slightly against the previous year comparative,
decreasing by 4.3 percent to EUR 140.1 million. This was largely
linked to the delivery of the first of the new range of deep drilling
rigs during the reporting period. The Group is seeing growing demand
for machinery in the Far East especially, and as a result the plants
in China are working to high capacity. All in all, demand and unit
sales have been somewhat more sluggish than expected. The resultant
rise in inventories will be reduced again through the second half of
the year.

The performance of the Group's Resources segment, which focuses on
future- oriented products and services in the fields of water,
energy, mineral resources and environmental technology, was
thoroughly positive. Its total Group revenues rose by 23.6 percent to
EUR 95.5 million (previous year: EUR 77.3 million). Segment EBIT was
EUR 1.2 million up on the previous year comparative, at EUR 2.8
million. Orders in hand were also up substantially, totalling EUR
180.3 million against the previous year comparative figure of EUR
125.3 million. Capacities are being utilized to healthy levels as a
result. During the reporting period Bauer acquired a major new
contract in Oman ? a follow-up order to extend the reed-bed treatment
plant it recently built to purify contaminated water from the oil
industry.

Outlook

Orders received across the Group were down slightly, decreasing by
5.8 percent to EUR 696.1 million (previous year: EUR 738.8 million).
Orders in hand increased by 2.5 percent on the previous year
comparative period to EUR 671.1 million, bringing them back up well
above the levels seen during the recent financial and economic
crisis. Slight declines in the Equipment and Construction segments
were balanced out by strong growth in the Resources segment.

"Our forecast at the start of the year was somewhat conservative, and
had allowed for a degree of turbulence in view of the troubled
political and economic times," comments Professor Thomas Bauer,
Chairman of the Management Board of BAUER AG. "The reserve we built
in has in fact been substantially used up by the many external
disturbing factors encountered, so that we have not been able fully
to meet our forecast targets." The Group now expects total Group
revenues of EUR 1.35 to 1.4 billion in full-year 2011, with after-tax
profit between EUR 40 and 45 million. The previous forecast had been
for total Group revenues of EUR 1.4 billion and after-tax profit of
above EUR 45 million.

"Thanks to the global span of the BAUER Group, problems in one market
or another, whilst of course being unwelcome, can be relatively well
absorbed and their impact cushioned. Our strategy is to utilize the
opportunities and the stabilizing effect arising from our presence in
some 70 countries around the world," Professor Bauer continues. "Our
greatest opportunities for growth over the coming years will be in
the Resources segment."

Our full Interim Report, including a detailed analysis of the
individual segments and markets, can be found on our website at
http://www.bauer.de.

About Bauer

Bauer is a provider of services, machinery and ancillary products in
the earth- working and groundwater fields. The Group markets its
products and services all over the world. Its global spread allows it
to remain largely unaffected by fluctuating business cycles.

The operations of the Group are divided into three segments:
Construction, Equipment and Resources. The Construction segment
carries out specialist foundation engineering work all over the
world, developing foundation and excavation projects as well as
providing related construction services. In its Equipment segment, in
which it is the world market leader, Bauer offers an extensive range
of machinery, equipment and tools for specialist foundation
engineering and related fields of activity. The Resources segment
encompasses the Group's operations in the exploitation of raw
materials, in environmental technology, in geothermal drilling
operations and also in equipment for wells (including pumps and
drills, screens and casings).

Bauer profits greatly from the collaboration between its three
separate segments, enabling the Group to position itself as an
innovative, highly specialized provider of complete solutions and
services for demanding projects on the specialist foundation
engineering and related markets.

Founded in 1790, Bauer today generates around three quarters of its
total revenues outside of Germany. Employing some 9,100 people, the
Group's total revenues in 2010 were EUR 1.30 billion (previous year:
EUR 1.28 billion). BAUER Aktiengesellschaft has been listed on the
official market of the Frankfurt Stock Exchange since July 4, 2006
(Prime Standard, ISIN DE0005168108).

GROUP KEY FIGURES - 1st half 2011 (IFRS)

| | HY 2010 | HY 2011 |Change |
| |in EUR million |in EUR million | |
|Total Group revenues |592.9 |639.9 |7.9 % |
|of which | | | |
|- Germany |145.0 |168.0 |15.9 % |
|- International |447.9 |471.9 |5.4 % |
|of which | | | |
|- Construction |292.8 |262.2 |-10.4 % |
|- Equipment |252.0 |322.7 |28.1 % |
|- Resources |77.3 |95.5 |23.6 % |
|- Other/Consolidation |-29.2 |-40.5 |n/a |
|Consolidated revenues * |574.7 |626.1 |8.9 % |
|Sales revenues |529.1 |550.1 |4.0 % |
|Orders received |738.8 |696.1 |-5.8 % |
|Orders in hand |654.8 |671.1 |2.5 % |
|EBITDA |63.9 |68.3 |6.9 % |
|EBITDA margin (as % of sales |12.1 % |12.4 % |n/a |
|revenues) | | | |
|EBIT |27.2 |28.3 |3.9 % |
|EBIT margin (as % of sales |5.1 % |5.1 % |n/a |
|revenues) | | | |
|Net profit or loss |6.1 |5.6 |-8.1 % |
|Shareholders´ equity |420.6 |425.2 |1.1 % |
|Equity ratio in % |30.5 % |29.4 % |n/a |
|Earnings per share in EUR |0.20 |0.26 |30.0 % |
|Employees (on average over the |8,892 |9,656 |8.6 % |
|year) | | | |

At variance with the consolidated revenues presented in the Group
income statement, the total Group revenues presented here include
portions of revenues from associated companies as well as revenues of
non-consolidated subsidiaries and joint ventures.

* Previous year figure adjusted

Further inquiry note:
Bettina Erhart / Christopher Wolf
Investor Relations
Telefon: +49(0)8252 97 1918
E-Mail: investor.relations@bauer.de

end of announcement euro adhoc
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company: BAUER Aktiengesellschaft
BAUER-Straße 1
D-86529 Schrobenhausen
phone: +49 (0)8252-97-1918
FAX: +49 (0)8252-97-2900
mail: investor.relations@bauer.de
WWW: http://www.bauer.de
sector: Construction & Property
ISIN: DE0005168108
indexes: SDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English