Bauer Group reports revenue growth in 2024 despite ongoing global challenges

Bauer RB 65 multipurpose rig at Bauma 2025 in Munich (Photo: Bauer)

A substantial portion of the revenue growth, approximately €318 million, was attributed to the execution of a major project in Hungary. However, the company noted that earnings were impacted by provisions related to uncertainties surrounding the project’s progress. These provisions were linked to additional sanctions introduced in late 2024, which adversely affected conditions for the project.

Bauer cited a number of external factors that shaped the global environment in 2024, including the ongoing conflict in Ukraine, military actions in Gaza, continued weakness in China’s construction sector, and broader economic sluggishness in other Asian countries.

Commenting on the results, Peter Hingott, executive board member of Bauer AG, stated that the company was “basically satisfied” with the financial performance given the difficult external conditions, although longer-term earnings targets remain higher.

The company reported improvements in its financial structure. Total assets remained largely unchanged at €1.6 billion, while net debt fell to €375.3 million.

The company says that the equipment segment experienced stable operational performance. Sales grew in Europe and the Middle East, while activity in the US slowed in the context of the presidential election cycle. The Chinese market, on the other hand, remained weak and restructuring efforts are said to have affected profitability.

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Bauer also noted that growing competition from local manufacturers is making the Asian market increasingly challenging. A cyber attack in late 2023 caused a loss of nearly two months of sales, significantly impacting the prior year’s earnings baseline. 

Looking ahead, Bauer plans to place greater emphasis on operational performance, innovation, and technology. The company aims to reduce costs across all areas to remain resilient in a potentially weakening market environment. “We have laid all the foundations for making 2025 a successful year,” said Hingott.