Bilfinger Q2 2026 financial results
- Orders received €1,498 million, down 16% (org. -21%); book-to-bill 1.03.
- Revenue €1,450 million, up 7% (org. +4%).
- EBITA €77 million (margin 5.3%); net profit €54 million, EPS €1.47.
- Outlook confirmed: revenue €5.4–€5.9 billion, EBITA margin 5.8–6.2%, free cash flow €250–€300 million; Teknokon consolidated since April 1.
Quarter highlights
Revenue increased 7% to €1,450 million (4% organically). Orders received were €1,498 million, down 16% versus a strong prior-year quarter, resulting in a book-to-bill ratio of 1.03. Gross profit remained at €155 million. EBITA rose 4% to €77 million, with an EBITA margin of 5.3% (PY: 5.5%). Free cash flow was €48 million (PY: €53 million). Net profit improved to €54 million and EPS to €1.47.
Market environment
Geopolitical uncertainty, notably the Middle East conflict, weighed on customer investment and temporarily reduced capacity utilisation. European customers delayed decisions amid energy-price volatility. Management reports signs of an upturn toward the second half and growing outsourcing potential in Chemicals & Petrochemicals, Energy, Oil & Gas and Pharma & Biopharma.
Outlook
Bilfinger confirms its 2026 guidance: revenue €5.4–€5.9 billion, EBITA margin 5.8–6.2% and free cash flow €250–€300 million. Based on H1 performance, the company expects the EBITA margin at the lower end of that range. The outlook includes the Teknokon Group, consolidated since April 1.
Acquisition, financing and orders
Bilfinger completed the acquisition of major businesses of Türkiye’s Teknokon Group on April 1, 2026, and placed a Schuldscheindarlehen with demand pushing the volume to €450 million. Selected Q2 wins include preheating systems at a Dutch refinery, engineering and commissioning for a 320 MW hydrogen plant in Germany, and expansion work for Gübretaş in Türkiye.
Source: Bilfinger
