Bilfinger (GBF) investor relations material

Strategic direction and financial ambitions

• Targeting 8%-10% annual revenue growth and 8%-9% EBITDA/EBITA margin by 2030, building on a track record of 8% CAGR and significant margin improvement since 2022.

• Updated strategy emphasizes operational excellence, market expansion, and digitalization, with a shift to a geography-led segment structure for better transparency and local accountability from 2026.

• Growth to be driven by self-propelled initiatives (3%-4% per year) and M&A (about 4% per year), focusing on bolt-on acquisitions in Europe and larger deals in the US and Middle East.

• Cash conversion expected to exceed 90% by 2030, supported by improved working capital efficiency and disciplined capital allocation.

• Dividend policy remains at 40%-60% of adjusted net earnings, with continued investment in organic growth and selective M&A.

Market trends and business opportunities

• Addressable market has expanded to over €210 billion, with growth in Oil & Gas, chemicals, and outsourcing potential.

• Key growth drivers include digitalization, sustainability, outsourcing, and efficiency improvements, with niche opportunities in data centers, hydrogen, nuclear, and infrastructure renewal.

• Customers increasingly demand bundled, multi-trade solutions to reduce complexity and improve efficiency.

• International segment (US, Middle East) expected to grow 12%-15% annually, outpacing European segments (6%-8%).

• High-impact sustainability portfolio expected to grow, with phase-out of coal- and oil-fired energy activities.

Organizational and operational initiatives

• Transitioning to three geography-led segments: Western Europe, Central Europe, and International, each with strong local teams and tailored offerings.

• Enhanced sales strategy with a dedicated Chief Sales Officer and a new sales powerhouse to drive cross-border growth and increase share of wallet.

• Continued investment in people, with at least 0.5% of revenue allocated to learning and development, and partnerships with leading universities.

• Safety and HSEQ performance at top industry levels, with ongoing efforts to reduce incidents and voluntary turnover below industry benchmark.

• Procurement and supply chain optimized through AI, global sourcing, and consolidation of prefabrication facilities, targeting 0.5%-1% EBITDA/EBITA improvement.