MANNHEIM (dpa-AFX) - Strong demand boosted industrial services provider Bilfinger in the first quarter. "Our offering to increase efficiency and sustainability for our customers continues to meet with positive demand. This applies to all customer segments and regions," Executive Board Chairman Thomas Schulz said Thursday, according to a statement. Sales climbed ten percent year-on-year to 1.05 billion euros in the first quarter, according to the SDax group in Mannheim.

Operating earnings before interest, taxes, depreciation and amortization (Ebita) more than doubled to 22 million euros. The recently launched cost-cutting program also contributed to this. The bottom line for the first three months was a profit of seven million euros, compared with a loss of seven million euros in the same period last year. The Mannheim-based company confirmed its targets for the year.

For the current year, Bilfinger continues to expect earnings of €4.3 to €4.6 billion. At 3.8 to 4.1 percent, operating profit (Ebita margin) should be significantly higher than in 2022./mne/zb