2024-02-14 15:07:11 ET
Bilfinger SE (BFLBF)
Q4 2023 Earnings Conference Call
February 14, 2024 09:00 ET
Company Participants
Bettina Schneider - Head of Corporate Treasury & Investor Relations
Thomas Schulz - Chief Executive Officer
Matti Jakel - Chief Financial Officer
Conference Call Participants
Gregor Kuglitsch - UBS
Michael Kuhn - Deutsche Bank
Christoph Dolleschal - HSBC
Presentation
Bettina Schneider
Good afternoon, ladies and gentlemen and welcome to Bilfinger Preliminary Results 2023 Webcast. My name is Bettina Schneider, and I'm here together with Thomas, who is our Group CEO; and Matti Jakel, our Group CFO. We start now with the presentations. And afterwards, you will have the opportunity to ask your questions via call or via chat in the webcasts in our quarterly results conference calls. [Operator Instructions] And the webcast is being recorded.
And with this, I hand over to Thomas Schulz.
Thomas Schulz
Thank you, Bettina. Hello, everybody. Let's start directly with the highlights of a quite successful year for our building group. Our orders were growing 5% organically our revenue 7% organically. And our EBITA margin really made a good development to 4.3% our cash flow was €122 million and for the year 2024. Based on the good result, we guide on revenue four and a half to €4.8 billion and on the EBITA 4.9% to 5.2%. We see in all regions, all markets, all industries a positive market situation for that what we offer to the industry's our dividend proposal is €1.80 per share. And we will host a new capital market day on the 12th of June in Frankfurt during the Arkema chemical exhibition. When we look into the year 2023, we definitely show a sustainable profitable growth, which is in line with that what we announced and very detailed, showed you all on the capital market day in February 2023.
Our revenue, our EBITA, and our free cash flow exceeded the forecast, which is in all positive, and gives us the possibility with the strategy and the market outlook that we can guide four and a half to €4.8 billion in the revenue side and 4.9% to 5.2%. On the EBITA line, we expect €100 million to €140 million in cash flow in free cash flow, which is in line with the targets what we gave last February that we want to have in the year 2024, the 5% EBITA, as well as a 70% Cash Conversion Cycle. It is important to see this year as the step towards our midterm targets, which is for the time 25 to 27, where we promised the market the four to 5% growth, as well as the six to 7% EBITA and the more than 80% Cash Conversion. We think and we see and we will have in that presentation, all the elements to prove that we are on a very good way towards these midterm targets.
One big part of that is of course, our strategy, our strategy to be the number one in efficiency and sustainability for all our clients wherever they are. That strategy implementation is well on track. And actually well on track to deliver the midterm targets to the efficiency program is completed. The functional organization implementation is done and established and works very well. Our competence development efforts with the so called Bilfinger education game GmbH, which is a pilot for training and education of new as well as existing colleagues is well on the way and we actually started a little bit earlier than we had in the strategy. We started already beginning of October 2023....
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Bilfinger SE (BFLBF) Q4 2023 Earnings Call Transcript