Q2 2026 Bilfinger Se Earnings Call Transcript
Key Points
- Order intake reached EUR 1.5 billion in Q2 2026, the third-best quarterly performance in over a decade, despite a volatile market environment.
- Revenue grew 7% year-over-year to EUR 1.45 billion, with a strong book-to-bill ratio of 1.03, indicating improved demand.
- Earnings per share increased 15% to EUR 1.47, driven by a lower tax rate and solid profit of EUR 54 million.
- Safety performance improved significantly, with the lost time injury frequency rate close to nil, reflecting strong operational discipline.
- The company confirmed its 2026 outlook, with revenue on track and EBITDA margin expected at the lower end of the guidance range, supported by a 90% backlog coverage for revenue.
- EBITDA margin declined to 5.3%, below expectations, due to underutilization and delays caused by the Iran war and customer hesitancy.
- Order intake in Central Europe fell 10% year-over-year, impacted by a large hydrogen contract not repeating and ongoing market softness.
- The Iran war caused project deferrals and postponements, particularly in Europe and the Middle East, leading to temporary underabsorption and margin pressure.
- Free cash flow in H1 2026 was lower at EUR 69 million, impacted by timing effects, lower advance payments, and slower invoice approvals from customers.
- The chemical and petrochemical sector, the largest revenue contributor, remains under pressure in Central Europe, with smaller order sizes and cost reduction programs affecting demand.
Good afternoon, ladies and gentlemen, and welcome to Buildfinger's Q2 2026 results webcast. My name is Martina Karlkake, and I'm here today with our CEO, Dr. Thomas Schulz, and our CFO, Marti Ekkel.
We will start with the presentation today on the quarterly highlights and then open the call for your questions. You can ask your questions via telephone by pressing star and one on your keypad or via chat in the webcast as usually. During the presentation, all participants will be in listen-only mode and the event will be recorded. I will now hand over to Thomas.
Thank you. So hello everybody. Welcome to our Q2 2026 result here out of Mannheim in Germany. Let's start with the highlights. We had actually quite a good order intake in the Q2 with around eur1.5 billiono and that in a quite volatile market environment, especially with the Iran war.
Our revenue has a quite good run rate
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