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Q2 2026 Results August 12 , 2026 Dr. Thomas Schulz , Group CEO Matti Jäkel , Group CFO BILFINGER
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Bilfinger | Q2 2026 Results | August 12, 20262 Highlights | Q2 2026 Includes Teknokon acquisition EBITA margin at lower end of range -16% / org. -21% Orders Received € 1,498 million 5.3% EBITA margin from 5.5% +7% / org. +4% Revenue € 1,450 million Revenue € 5,400 – 5,900 million EBITA margin 5.8 – 6.2 % Volatile market environment Market € 48 million Free cash flow from € 53 million € 1.47 Earnings per share from € 1.28 Outlook 2026Outlook 2026
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Bilfinger | Q2 2026 Results | August 12, 20263 Safety Performance TRIF: Total Recordable Incident Frequency [based on 1 million working hours ] LTIF: Lost Time Injury Frequency [based on 1 million working hours ] Our ambition is zero incidents Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 0.89 1.01 0.85 0.69 0.78 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 0.26 0.17 0.15 0.16 0.05
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Bilfinger | Q2 2026 Results | August 12, 20264 Industry Development Production Index1) Base year 2023 I Europe, Middle East and North America Revenue Share2) Demand Outsourcing Potential Bilfinger Chemicals & Petrochemicals Significant regional differences in expected growth 21% Oil & Gas Increased demand in LNG 19% Energy Increasing demand for generation, storage and transmission 28% Pharma & Biopharma Accelerating health care markets 10% 80 85 90 95 100 105 110 115 120 125 2023 2024 2025E 2026E 2027E 2028E 2029E 2030E 1) Includes content supplied by S&P Global Market Intelligence; Copyright © S&P Global Market Intelligence, 2026. All rights reserved. 2) % of Group revenues YTD/26, 22% in Adjacent Industries
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Expansion of gold production capacity covering mechanical, electrical, and insulation installations Adjacent Industries Gübretaş International Prefabrication & Installation Engineering, installation and commissioning services for integration of new 320 MW hydrogen production plant 5 Selected Orders Received Energy EWE Hydrogen Central Europe Installation of air-preheater systems at a major integrated refinery to improve plant efficiency Chemicals & Petrochemicals Global oil & gas company Western Europe Bilfinger | Q2 2026 Results | August 12, 2026 Asset Performance Prefabrication & Installation
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6 Leading producer of industrial gases in Saudi Arabia: • Gas cylinders require content analysis and certification before shipment • External laboratory testing takes up to 3-4 days • Manual in-house approach causes high operational costs • No traceability of cylinder inventory and contents Fully automated gas analysis and certification workflow: • Mobile laboratory with 40+ chromatographs on site • Automated gas analysis per cylinder at 1 ppm precision • Instant certification, documentation and labelling • Digital fleet management and reports Customer Challenge Bilfinger Solution Bilfinger Contribution Innovation: Bilfinger Automated Gas Analysis System 1.0 Improved Efficiency, Scalability and Quality of Gas Production 24/7 access to recordsUp to 60% increased efficiency Higher quality, safety, and accuracy -50% reduced manhours Bilfinger | Q2 2026 Results | August 12, 2026
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Bilfinger | Q2 2026 Results | August 12, 20267 Group | Demand Orders received [€ million] Order backlog [€ million] ∆ abs. / org. 32% 68% 44% 56% ∆ abs. / org. Opportunity pipeline [indexed on April 2024] 100 104 102 106 97 100 95 99 107 Nov Dec Jan Feb Mar Apr May Jun Jul Aug SepApr Nov Dec Jan Feb Mar Apr May JunMay Jun Jul Aug Sep Oct Oct -1% 0% • Positive momentum in opportunity pipeline towards the end of Q2 driven by Energy industry • Third-highest quarterly order intake in a decade • Geopolitical uncertainty leading to delays in investment decisions • Chemical & Petrochemical industry remains under pressure, especially in Europe • Growth from the Energy industry • Prior year benefited from significant contract awards and framework renewals across all industries and geographies 1,509 1,774 1,498 +18% / +17% -16% / -21% Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 4,056 4,448 4,340 +10% / +9% -2% / -8%
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Bilfinger | Q2 2026 Results | August 12, 20268 Group | Revenue and Profitability Revenue [€ million] | Book-to-Bill [ratio] Gross profit [€ million, %] SG&A expenses [€ million, %] EBITA [€ million, %] Revenue • Growth in Energy and Adjacent Industries • Decline in Pharma & Biopharma Gross profit / EBITA • Delays in capex and opex investment cause temporary underutilization of capacity ∆ abs. / org. 1,353 1,450 1.31 1.03 Q2/25 Q2/26 +7% / +4% 155 155 11.5% Q2/25 10.7% Q2/26 0% 74 77 5.5% Q2/25 5.3% Q2/26 +4% -86 -88 -6.3% Q2/25 -6.1% Q2/26
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Bilfinger | Q2 2026 Results | August 12, 20269 Segment Western Europe | Performance Orders received • Prior year benefited from significant contract awards • Orders primarily from existing framework agreements • Increase in Oil & Gas, Pharma & Biopharma and Adjacent Industries • Chemical & Petrochemical industry remains under pressure Revenue • Growth from Energy and Adjacent Industries EBITA • Efficiency improvements Orders received [€ million] Revenue [€ million] Book-to-Bill [ratio] EBITA [€ million, %] ∆ abs. / org. ∆ abs. / org. 471 477 Q2/25 Q2/26 +1% / +1% 34 37 7.2% Q2/25 7.7% Q2/26 +8% 1.32 1.01 Q2/25 Q2/26 623 482 Q2/25 Q2/26 -23% / -22%
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Bilfinger | Q2 2026 Results | August 12, 202610 Segment Central Europe | Performance Orders received [€ million] Revenue [€ million] Book-to-Bill [ratio] EBITA [€ million, %] ∆ abs. / org. ∆ abs. / org. Orders received • Prior year benefited from significant contract awards • Increase in Energy industry • Decline in Oil & Gas and Pharma & Biopharma industries • Chemical & Petrochemical industry remains under pressure Revenue • Growth from Energy and Oil & Gas industries • Decline in Pharma & Biopharma industry EBITA • Delays in capex and opex investment cause temporary underutilization of capacity 611 664 Q2/25 Q2/26 +9% / +5% 32 28 5.2% Q2/25 4.3% Q2/26 -11% Q2/25 Q2/26 1.18 0.97 721 646 Q2/25 Q2/26 -10% / -14%
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Bilfinger | Q2 2026 Results | August 12, 202611 Segment International | Performance Orders received [€ million] Revenue [€ million] Book-to-Bill [ratio] EBITA [€ million, %] ∆ abs. / org. ∆ abs. / org. Orders received • Prior year benefited from significant framework renewals and contract awards • Growth in Oil & Gas and Energy industry Revenue • Growth in Energy and Adjacent Industries • Decline in Oil & Gas industry EBITA • Margin stable despite ongoing geopolitical tensions in the Middle East 10 12 3.8% Q2/25 3.9% Q2/26 +13% 275 302 Q2/25 Q2/26 +10% / +6% 396 347 Q2/25 Q2/26 -12% / -32% Q2/25 Q2/26 1.44 1.15 Note: Teknokon Group financials included in Q2 2026 Performance
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Bilfinger | Q2 2026 Results | August 12, 202612 Group | Net Profit and Earnings per Share • Tax rate 23% (Q2 2025: 28%) • Earnings per share increase by 15% to € 1.47 (Q2 2025: € 1.28) Q2/26 [€ million] [€ million] 75 71 55 54 EBIT -5 Financial result EBT -16 Taxes EAT cont. 0 EAT discont. 0 Minorities Net profit 72 68 49 48 EBIT -4 Financial result EBT -19 Taxes EAT cont. 0 EAT discont. -1 Minorities Net profit Q2/25
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Bilfinger | Q2 2026 Results | August 12, 202613 Group | Cash flow and Working Capital Operating cash flow [€ million] Free cash flow [€ million] | Cash Conversion [%] Net Trade Assets / Revenue [%] Thereof adjustments • Geopolitical uncertainty: lower advance payments and timing effects in billing processes -6 -7 -9 -5 -4 53 48 71% Q2/25 62% Q2/26 -9% Q2/25 Q2/26 9% 9% 64 61 Q2/25 Q2/26 -5%
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Bilfinger | Q2 2026 Results | August 12, 202614 Group | Net Liquidity and Leverage Net liquidity [€ million] Net debt / EBITDA [ratio]1) Leverage < 2.0 0.6 6/30/25 0.5 9/30/25 0.3 12/31/25 0.4 3/31/26 0.7 6/30/26 430 469 519 502 233 -176 -177 -177 -178 -194 -188 -197 -196 -197 61 103 146 128 10 6/30/25 9/30/25 12/31/25 3/31/26 -25 6/30/26 2) S&P definition • Reduction of cash due to partial repayment of “Schuldscheindarlehen” (German law governed promissory note loan) • Refinancing of “Schuldscheindarlehen” with payments in two disbursements in July (€300 million) and December (€150 million) • Net debt increase with dividend payment in Q2 2026 1) S&P definition Net liquidity Cash and cash equivalents Financial debt Leasing liabilities (IFRS 16)
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[€ million, %] Actual YTD 2025 Actual YTD 2026 Outlook FY 2026 Mid-term targets 2030 Revenue 2,620 2,763 5,400 to 5,900 8 - 10% CAGR EBITA margin 5.0% 5.0% 5.8 to 6.2% 8 - 9% Free cash flow 1621) 69 250 to 300 ≥ 90% Cash Conversion Bilfinger | Q2 2026 Results | August 12, 202615 Group | Outlook 2026 1) Including a mid double-digit million amount cash-inflow due to completion of a legal proceeding Outlook 2026 confirmed EBITA margin expected at lower end of range; Teknokon acquisition included
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Bilfinger | Q2 2026 Results | August 12, 202616 Highlights | Q2 2026 Includes Teknokon acquisition EBITA margin at lower end of range -16% / org. -21% Orders Received € 1,498 million 5.3% EBITA margin from 5.5% +7% / org. +4% Revenue € 1,450 million Revenue € 5,400 – 5,900 million EBITA margin 5.8 – 6.2 % Volatile market environment Market € 48 million Free cash flow from € 53 million € 1.47 Earnings per share from € 1.28 Outlook 2026Outlook 2026
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Move image to the Back: Right-click on the image and select “Arrange” → “Send to Back” Quarterly Statement Q2 2026 Financial Backup
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Western Europe Central Europe International Reconciliation Group GroupHQ / Consolidation / Other1) Other Operations [€ million] Orders received Order backlog Revenue SG&A EBITDA EBITDA margin EBITA EBITA margin Special items EBITA Amortization Depreciation Investments in P, P & E Increase in right- of-use assets Employees Bilfinger | Q2 2026 Results | August 12, 202618 Segment Development Q2 2026 1) Restatement of 2025 Orders received, Order backlog and Revenue figures due to change in segment structure Q2/26 Q2/25 Δ in % Q2/26 Q2/25 Δ in % Q2/26 Q2/25 Δ in % Q2/26 Q2/25 Δ in % Q2/26 Q2/25 Δ in % Q2/26 Q2/25 Δ in % 623 721 396 -53 -24 59 1,774 1,587 2,076 808 -95 -88 66 4,448 471 611 275 -42 -48 45 1,353 -28 -36 -18 -2 -2 -2 -86 45 44 14 4 -4 6 105 9.5% 7.3% 5.0% - 13.9% 7.8% 34 32 10 0 -8 6 74 7.2% 5.2% 3.8% - 12.9% 5.5% -1 0 0 0 1 0 0 -2 0 0 0 0 0 -2 -12 -11 - -13 -13 - -4 -3 - -4 -4 - -1 0 - -33 -31 - 7 2 +252% 8 6 +26% 1 2 -59% 1 1 +7% 0 0 - 17 12 +44% 5 4 -39% 2 5 7 0 17 8,183 8,375 -2% 11,642 11,544 +1% 10,252 10,046 +2% 573 543 +6% 673 734 -8% 31,323 31,242 0% - -27% - - - - -7% - 482 -23% 646 -10% 347 -12% - 76 +29% 1,498 -16% 1,404 -12% 2,027 -2% 906 +12% - 98 +49% 4,340 -2% 477 +1% 664 +9% 302 +10% - 50 +12% 1,450 +7% -27 - -36 - -20 - - -2 - -88 - 48 +8% 41 -8% 16 +15% - 1 -89% 110 +4% 10.1% 6.2% 5.2% 1.4% 7.6% 37 +8% 28 -11% 12 +13% - 0 - 77 +4% 7.7% 4.3% 3.9% 0.4% 5.3% -1 - 0 0 0 - -1 - -2 - 0 - 0 - - 0 - -2 - 3 -34% 3 2 0 12 -30%
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Western Europe Central Europe International Reconciliation Group GroupHQ / Consolidation / Other1) Other Operations [€ million] Orders received Order backlog Revenue SG&A EBITDA EBITDA margin EBITA EBITA margin Special items EBITA Amortization Depreciation Investments in P, P & E Increase in right- of-use assets Employees Bilfinger | Q2 2026 Results | August 12, 202619 Segment Development YTD 2026 1) Restatement of 2025 Orders received, Order backlog and Revenue figures due to change in segment structure YTD/26 YTD/25 Δ in % YTD/26 YTD/25 Δ in % YTD/26 YTD/25 Δ in % YTD/26 YTD/25 Δ in % YTD/26 YTD/25 Δ in % YTD/26 YTD/25 Δ in % 1,047 1,344 624 -95 -80 111 3,045 1,587 2,076 808 -95 -88 66 4,448 887 1,179 533 -85 -88 109 2,620 -54 -73 -35 -3 -7 -4 -173 83 81 23 4 -12 18 193 9.4% 6.9% 4.3% - 16.1% 7.3% 60 57 16 -3 -19 17 131 6.8% 4.8% 3.1% - 15.3% 5.0% -2 0 0 0 1 0 -1 -3 0 0 0 0 0 -3 -23 -23 - -25 -25 - -8 -6 - -7 -7 - -1 -1 - -63 -62 - 16 9 +78% 13 10 +30% 2 5 -64% 2 3 -29% 1 1 -60% 34 29 +19% 9 6 -9% 2 6 7 0 24 8,183 8,375 -2% 11,642 11,544 +1% 10,252 10,046 +2% 573 543 +6% 673 734 -8% 31,323 31,242 0% - -17% - - - - +84% - 867 -17% 1,240 -8% 578 -7% - 117 +6% 2,706 -11% 1,404 -12% 2,027 -2% 906 +12% - 98 +49% 4,340 -2% 920 +4% 1,264 +7% 547 +3% - 116 +7% 2,763 +5% -57 - -69 - -39 - - -5 - -173 - 89 +8% 79 -3% 20 -14% - 8 -57% 200 +4% 9.7% 6.3% 3.6% 6.5% 7.2% 67 +11% 54 -4% 12 -26% - 6 -61% 137 +5% 7.3% 4.3% 2.2% 5.6% 5.0% -1 - -1 0 0 - -1 - -4 - -1 - 0 - - 0 - -4 - 8 -14% 5 4 0 23 -5%
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Bilfinger | Q2 2026 Results | August 12, 202620 Segments | Outlook 2026 [€ million, %] Actual YTD 2025 Actual YTD 2026 Outlook FY 2026 Western Europe Revenue 887 920 1,800 to 2,000 EBITA margin 6.8% 7.3% 7.0 to 7.4% Central Europe Revenue 1,179 1,264 2,500 to 2,700 EBITA margin 4.8% 4.3% 5.8 to 6.4% International Revenue 533 547 1,050 to 1,200 EBITA margin 3.1% 2.2% 4.2 to 5.0% Reconciliation Group Revenue 21 31 0 to 50 EBITA -2 4 -20 to 0 Outlook 2026 confirmed EBITA margins expected at lower end of ranges; Teknokon acquisition included Western Europe 34%1) Central Europe 46%1) International 20%1) 1) Share of Group Revenue FY 2025
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Bilfinger | Q2 2026 Results | August 12, 202621 Revenue Split Western Europe Central Europe International Group YTD/26 YTD/25 YTD/26 YTD/25 YTD/26 YTD/25 YTD/26 YTD/25 Industry Split Chemicals & Petrochemicals 35% 37% 22% 24% 3% 7% 21% 24% Energy 20% 15% 30% 26% 19% 19% 28% 24% Oil & Gas 29% 32% 15% 13% 17% 18% 19% 19% Pharma & Biopharma 3% 4% 20% 24% 0% 0% 10% 13% Adjacent Industries 13% 12% 13% 14% 62% 56% 22% 21% Remuneration Type1) Time & Material 41% 53% 43% 46% 49% 42% 45% 45% Unit rates 36% 31% 14% 14% 12% 15% 20% 18% Lump sum 21% 14% 18% 17% 16% 19% 18% 20% Mixed 2% 2% 25% 24% 23% 25% 17% 17% 1) Reclassification of revenue split from Lump sum to Time & Material in Q1 2026 for Other Operations
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Bilfinger | Q2 2026 Results | August 12, 202622 Profit and Loss Statement 1 Special items EBITA [€ million] Q2/26 Integration of acquisition -1 Other restructuring 0 M&A 0 Total -1 1 [€ million] Revenue Gross profit Selling and administrative expenses Impairment losses and reversal of impairment losses (as per IFRS 9) Other operating income and expense Income from investments accounted for using the equity method Earnings before interest and taxes (EBIT) Amortization of int. assets from acquisitions and goodwill impairments (IFRS 3) Earnings before interest, taxes and amortization of intangible assets (EBITA) Special items in EBITA Depreciation PP&E thereof depreciation of right-of-use assets from leases Earnings before interest, taxes, depreciation and amortization (EBITDA) Financial result Earnings before taxes (EBT) Income taxes Earnings after taxes EAT (continuing operations) Earnings after taxes EAT (discontinued operations) Minority interests Net profit Earnings per share (in €) For information: adjusted Net profit Adjusted Earnings per share (in €) Q2/26 Q2/25 ∆ in % 1,352.9 155.1 -85.9 -1.4 3.0 1.6 72.5 -1.7 74.2 0.0 -31.2 105.4 -4.1 68.4 -19.0 49.3 -0.3 -1.5 47.6 1.28 49.7 1.34 YTD/26 YTD/25 ∆ in % 2,762.8 2,620.3 +5% 297.4 296.7 0% -172.6 -172.5 - -0.6 -1.4 - 5.1 1.3 +291% 3.5 3.4 +3% 132.7 127.4 +4% -4.2 -3.5 - 136.9 130.9 +5% -1.3 -0.6 - -63.2 -61.6 - -34.0 -33.3 - 200.1 192.5 +4% -10.1 -9.3 - 122.6 118.1 +4% -29.8 -34.6 - 92.9 83.5 +11% 0.0 -0.2 - -2.0 -4.2 - 90.8 79.2 +15% 2.46 2.12 +16% 91.5 85.0 +8% 2.48 2.28 +9% 1,450.4 +7% 155.3 0% -88.3 - 1.6 - 3.8 +28% 2.8 +71% 75.2 +4% -1.8 - 77.1 +4% -0.6 - -32.6 - -17.7 - 109.7 +4% -4.6 - 70.6 +3% -16.0 - 54.6 +11% 0.0 - -0.4 - 54.1 +14% 1.47 +15% 52.9 +6% 1.43 +7% -16.9
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[€ million] Non-current assets Intangible assets Property, plant and equipment Right of use assets from leases Investments accounted for using the equity method Other financial assets Deferred taxes Current assets Inventories Receivables and other financial assets Current tax assets Other assets Securities Marketable securities Cash and cash equivalents Assets classified as held for sale Total 6/30/26 3/31/26 ∆ in % 1,415.0 832.5 297.0 187.3 17.5 6.8 73.7 2,214.2 112.0 1,465.5 24.5 110.2 0.0 0.0 502.0 0.0 3,629.2 6/30/26 12/31/25 ∆ in % 1,406.1 827.6 294.1 187.6 16.7 7.2 72.8 2,084.6 103.0 1,341.4 23.7 97.2 0.0 0.0 519.2 0.0 3,490.7 1,472.9 +4% 1,472.9 +5% 884.5 +6% 884.5 +7% 298.5 0% 298.5 +1% 189.3 +1% 189.3 +1% 18.1 +3% 18.1 +8% 6.9 0% 6.9 -5% 75.6 +3% 75.6 +4% 2,044.8 -8% 2,044.8 -2% 106.7 -5% 106.7 +4% 1,558.3 +6% 1,558.3 +16% 27.4 +12% 27.4 +16% 119.8 +9% 119.8 +23% 0.0 - 0.0 - 0.0 - 0.0 - 232.6 -54% 232.6 -55% 0.0 - 0.0 - 3,517.7 -3% 3,517.7 +1% Bilfinger | Q2 2026 Results | August 12, 202623 Consolidated Balance Sheet: Assets Goodwill increased to €847 million (03/26: €795 million) 1 Repayment of “Schuldscheindarlehen” (German law governed promissory note loan) 2 1 2
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Bilfinger | Q2 2026 Results | August 12, 202624 Consolidated Balance Sheet: Equity & Liabilities Equity ratio remained constant at 39%1 1 [€ million] Equity Equity attributable to shareholders of Bilfinger SE Attributable to minority interests Non-current liabilities Provisions for pensions and other obligations Other provisions Financial debt Other liabilities Deferred taxes Current liabilities Current tax liabilities Other provisions Financial debt Trade and other payables Other liabilities Liabilities classified as held for sale Total 6/30/26 3/31/26 ∆ in % 1,403.6 1,389.1 14.4 480.2 240.5 22.5 190.6 0.1 26.5 1,745.4 50.8 125.4 183.5 1,080.6 305.1 0.0 3,629.2 6/30/26 12/31/25 ∆ in % 1,344.7 1,331.7 13.0 481.0 242.5 22.6 191.8 0.1 24.1 1,664.9 48.5 131.9 181.8 1,045.7 257.1 0.0 3,490.7 1,358.0 -3% 1,358.0 +1% 1,342.3 -3% 1,342.3 +1% 15.7 +9% 15.7 +21% 465.9 -3% 465.9 -3% 243.0 +1% 243.0 0% 23.6 +5% 23.6 +5% 161.2 -15% 161.2 -16% 9.8 - 9.8 - 28.3 +7% 28.3 +17% 1,693.8 -3% 1,693.8 +2% 54.1 +6% 54.1 +11% 119.1 -5% 119.1 -10% 61.3 -67% 61.3 -66% 1,159.3 +7% 1,159.3 +11% 300.1 -2% 300.1 +17% 0.0 - 0.0 - 3,517.7 -3% 3,517.7 +1% Repayment of “Schuldscheindarlehen” (German law governed promissory note loan) 2 1 2 2
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Bilfinger | Q2 2026 Results | August 12, 202625 Net Liquidity | Cash Flow Development Excluding IFRS 16 Net Trade Assets / DSO / DPO [€ million] Net liquidity1) [€ million] Cash flow development year-to-date excl. IFRS 16 [€ million] 1) Including IFRS 16 leases | 2) Gains / losses from disposal of non-current assets / Income from investments accounted for using the equity method / Dividends received Q2 2026 excl. IFRS 16 IFRS 16 impacts Q2 2026 incl. IFRS 16 Q2 2025 excl. IFRS 16 EBITA 137 137 131 Depreciation 29 34 63 28 Change in NWC -77 -77 34 Other non-cash income / expenses 0 0 -2 Interest received 7 7 8 Income tax payments -26 -26 -30 Change in non-current assets / liabilities -2 -2 -12 Others 2) -10 5 -5 -5 Operating CF 58 97 152 Net CAPEX -28 -28 -27 Free CF 30 69 125 Proceeds/Investments financial assets -41 -41 -24 Share buyback program 0 0 -24 Changes in marketable securities 0 0 0 Dividends -103 -103 -89 Change in financial debt -150 -35 -185 0 Interest paid -7 -4 -11 -9 FX / other / DiscOp -15 -15 -14 Change in Cash -286 -286 -35 DPO [days] DSO [days] 81 73 454 464 426 500 517 6/30/25 9/30/25 12/31/25 3/31/26 6/30/26 Net trade assets 63 64 61 74 67 66 67 82 128 61 4/1/26 OCF -13 Net Capex -41 Acquisitions -111 Cash flow financing activities 1 Cash flow discont. operations -19 Change in valuation of liabilities 4 Other 10 6/30/26 128 10
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[€ million] EBITDA Change in advance payments received Change in trade receivables Change in trade payables and advance payments made Change in net trade assets Change in current provisions Change in other current assets (including other inventories) and liabilities Change in working capital Change in non-current assets and liabilities Gains / losses from disposal of non-current assets Income from investments accounted for using the equity method Dividends received Interest received Income tax payments Other non-cash income / expense Operating cash flow (OCF) Investments in property, plant and equipment and intangible assets Payments received from the disposal of P, P & E and intangible assets Net cash outflow for P, P & E and intangible assets (net capex) Free cash flow (FCF) thereof special items in free cash flow Q2/26 Q2/25 105.4 -8.8 9.3 -66.7 -47.4 66.6 25.1 -8.8 -13.0 -8.1 -5.5 -11.8 -7.8 -26.3 -6.7 -6.6 -1.9 -2.5 -2.8 -1.6 2.0 2.2 3.6 4.8 -14.6 -11.7 0.0 60.6 63.6 -17.0 -11.8 1.3 -10.5 53.1 109.7 -28.7 0.0 4.4 -12.6 48.0 ∆ in % +4% - - +165% - - - - - - - -6% -25% - - -5% - +245% - -9% -5.6 YTD/26 YTD/25 ∆ in % 200.1 192.5 +4% -9.3 4.5 - -181.5 -2.2 - 111.1 58.1 +91% -79.7 60.4 - -14.4 -11.8 - 16.7 -14.6 - -77.4 33.9 - -2.2 -11.5 - -2.8 -2.8 - -3.5 -3.4 - 2.3 3.7 -37% 6.6 8.4 -22% -26.4 -30.0 - 0.0 -1.9 - 96.7 189.0 -49% -33.8 -28.5 - 6.2 1.9 +220% -27.7 -26.6 - 69.1 162.4 -57% -8.8 -10.8 --3.6 - Special items in FCF [€ million] Q2/26 Restructuring -3 Integration costs 0 M&A -1 Total -4 Bilfinger | Q2 2026 Results | August 12, 202626 Consolidated Statement of Cash Flows [1/2] 1 1
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Bilfinger | Q2 2026 Results | August 12, 202627 Consolidated Statement of Cash Flows [2/2] Purchase price for acquisitions1 Comprises repayment of “Schuldscheindarlehen” (German law governed promissory note loan) 2 [€ million] Free Cash Flow (FCF) [carry over] Proceeds from / payments made for the disposal of financial assets Investments in financial assets Changes in marketable securities - Share buyback - Dividends - Changes in ownership interest without change in control - Borrowing - Repayment of financial debt - Interest paid Cash flow from financing activities of continuing operations Change in cash and cash equivalents of continuing operations Change in cash and cash equivalents of discontinued operations Change in value of cash and cash equivalents due to changes in foreign exchange rates Change in cash and cash equivalents Cash and cash equivalents at January 1 / April 1 Change in cash and cash equivalents of assets classified as held for sale Cash and cash equivalents at June 30 Q2/26 Q2/25 ∆ in % 53.1 0.6 -17.0 - 0.0 -11.9 -96.8 0.0 0.0 -17.4 -9.0 -135.0 -98.4 -0.8 -3.2 -102.4 502.0 532.7 -6% 0.0 430.2 - 48.0 -9% 0.0 - -40.7 0.0 - 0.0 -103.4 - 0.0 - 0.0 - -168.0 - -7.8 - -279.2 - -271.9 - 0.6 - 1.8 - -269.4 - 0.0 - 232.6 -46% YTD/26 YTD/25 ∆ in % 69.1 162.4 -57% 0.0 0.6 - -40.7 -24.5 - 0.0 0.0 - 0.0 -24.3 - -119.7 -96.8 - 0.0 0.0 - 0.0 0.0 - -185.4 -33.2 - -10.9 -12.4 - -316.0 -166.7 - -287.6 -28.3 - -0.9 -2.3 - 1.8 -4.2 - -286.6 -34.8 - 519.2 465.0 12% 0.0 0.0 - 232.6 430.2 -46% 1 2
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Bilfinger | Q2 2026 Results | August 12, 202628 Your Bilfinger IR Team Director Investor Relations Phone: +49 (0) 621 / 459-2455 sascha.bamberger@bilfinger.com Manager Investor Relations Phone: +49 (0) 621 / 459-3880 nicola.bursitzky@bilfinger.com Martina Kalkhake Sascha Bamberger Nicola Bursitzky Maximilian H. W. Zabel Manager Investor Relations Phone: +49 (0) 621 / 459-2486 maximilian.zabel@bilfinger.com Senior Vice President Investor Relations Phone: +49 (0) 621 / 459-3759 martina.kalkhake@bilfinger.com Financial calendar Senior Manager Investor Relations Phone: +49 (0) 621 / 459-2128 christine.terhalle@bilfinger.com Christine Terhalle March 3, 2027 – Quarterly Statement Q4 2026 and Annual financial statements 2026 November 11, 2026 – Quarterly Statement Q3 2026 April 22, 2027 – Annual General Meeting August 11, 2027 – Quarterly Statement Q2 2027 May 12, 2027 – Quarterly Statement Q1 2027 November 10, 2027 – Quarterly Statement Q3 2027
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Bilfinger | Q2 2026 Results | August 12, 202629 This document contains forward-looking statements, which are predictions, projections or other statements about future events. Such statements are based on plans, expectations, forecasts and assumptions as they are currently available to Bilfinger’s management. Forward-looking statements and information speak only as of the date they are made, and Bilfinger neither intends nor assumes any obligation to update publicly or revise these forward-looking statements in light of future events or developments which differ from those anticipated. By their nature, forward-looking statements are subject to risks and uncertainties, including a negative change in market conditions, events of force majeure or changes in laws, regulations and government policies. A variety of such factors, many of which are beyond Bilfinger’s control, could cause actual results, performance figures or events to differ significantly from those expressed or implied in the forward-looking statements. The information contained in this document may comprise financial and similar information which is neither audited nor reviewed and should be considered preliminary and subject to change. It may also include data provided by third parties. Any such data is taken or derived from information published by sources that Bilfinger believes to be credible. Bilfinger has not independently verified the third-party data and makes no warranties as to its accuracy or completeness. Due to rounding, numbers presented throughout this document may not add up in all cases precisely to the totals provided and percentages may not precisely reflect the absolute figures. This document is being presented solely for informational purposes and does not constitute any form of investment advice or an offer or invitation to subscribe for or purchase any securities. Disclaimer