Initiation of coverage BILFINGER BUY, TP EUR30 “En route” for the recovery
Initiation of coverage BILFINGER BUY, TP EUR30 “En route” for the recoveryWith the disposal of some construction activities in 2011, of the civil construction unit in 2014, and of the real estate and building construction activities in 2016, Bilfinger has changed dramatically and is no longer a construction group. Since 2002, and in particular since the development of an industrial services division, Bilfinger is now a pure player in industrial services. Every entity currently within the group is post-2002. The transformation has been long and painful, with numerous profit warnings, serious legal issues and multiple management changes. But with a clean asset portfolio and a compact new management team, Bilfinger is now a new animal.
Bilfinger SE is a holding company. Through its subsidiaries, Co. develops, builds, maintains and operates facilities and structures for infrastructure, real estate, industry and the energy sector. Co.'s business segments include: Industrial, which is comprised of Industrial Maintenance; Insulation, Scaffolding and Painting; Oil and Gas; Industrial Fabrication and Installation; Engineering, Automation and Control; and Support Services; Power, which is comprised of Power Systems, and Piping Systems; Building and Facility, which is comprised of Building, Facility Services, Real Estate, and Water Technologies; and Construction, which is comprised of Construction, and Infrastructure.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.