Bilfinger sheds two more divisions

The sale of Bilfinger's infrastructure unit will now be subject to approval of the Polish antitrust authorities. Warsaw-based Bilfinger Infrastructure, which employs 800 people and is primarily active in Poland, was put up for sale in May 2014. The company’s output volume for the current year amounts to app. EUR 170 mln. Last year, the company sold its another non-sore unit, the Wiesbaden-based construction division, to the Swiss construction company Implenia. "We are very pleased that, along with the construction division, we have now also been able to sell our infrastructure division to a renowned European construction company. The companies and their employees have very good prospects for the future in their new environments", said Joachim Enenkel, a member of the executive board at Bilfinger.

At the same time Bilfinger has decided to put up for sale its power business unit, which employed 11,000 people and generated an output volume of EUR 1.45 bln in 2014, by the end of the year. The expected adjusted EBITA loss for the power division in FY 2015 amounts to EUR 100 mln. “In view of the difficult situation in the home market, a further internationalization of power is necessary. Such a move requires an expansion of the project business, which at about 60 pct today already makes up a significant portion of the segment's output volume, and is thus no longer in line with the strategy and risk profile of Bilfinger as an engineering and services group,” reads the statement.