* Q3 EBITA 105 mln euros vs Rtrs poll avg 99 mln
* Reiterates 2012 outlook
* Shares rise 6 pct, MDAX down 0.2 pct, peers down 0.8 pct
(Adds CEO comments on outlook, compliance, updates shares)
By Peter Dinkloh
FRANKFURT, Nov 14 Germany's Bilfinger
beat expectations for quarterly earnings, helped by orders to
maintain factories in Scandinavia, oil platforms in the North
Sea and a gas plant in Germany.
Bilfinger, which services industrial plants, won major
orders in the period from clients such as Germany's BASF
, Britain's BP and Norway's Statoil,
the Mannheim, Germany-based company said on Wednesday.
But Chief Executive Roland Koch, a former premier of the
German state of Hesse for the conservative CDU party, warned the
economic environment was becoming increasingly difficult, making
it harder to reach the company's targets for 2016.
"The path to increase margins in the industrial's unit is
steeper than expected," he said in a telephone conference,
referring to the business division that generates the largest
share of earnings.
Bilfinger aims to double net income to 400 million euros in
2016 and raise EBITA to 700 million, and Koch told Reuters in an
interview in August that profits will rise continuously in the
Earnings before interest, tax and amortisation (EBITA) for
the three months through September w e re f lat from a year earlier
at 105 million euros ($133 million), beating a consensus of 99
million euros in a Reuters poll.
The shares rose 6 percent, the biggest increase in more than
a year, while the German mid-cap index fell 0.2 percent
and peers on the STOXX Europe 600 Construction & Materials index
, dropped 0.8 percent.
Koch said he still aimed to post 2012 EBITA of 450-470
million euros and a net profit of 265-275 million euros, but
declined to comment on 2013.
Bilfinger still has about 1 billion euros to invest in
acquisitions after spending about 500 million euros on
takeovers, including Dutch project planner Tebodin, a spokesman
said on Wednesday.
The results come as Bilfinger faces a regulatory
investigation, with media reporting irregularities in relation
to winning an order to build a highway in Hungary and a metro in
Budapest and Bratislava.
Prosecutors in mid-October raided several of Bilfinger's
offices because of unspecified incidents in the years 2006 and
2007, but Bilfinger has declined to provide details.
Koch said on Wednesday that the two employees concerned were
put on leave during the investigation and that he saw no
systemic violation of the company's compliance rules.
(Additional reporting by Tom Atkins. Editing by Louise Heavens)