Bilfinger SE shares advanced 4.0% to €83.275 on Tuesday, extending gains after UBS upgraded the German industrial services group to Buy from Neutral.
The upgrade followed the company’s second-quarter results, which UBS said signaled a margin reset that reduces earnings risk for fiscal 2026. The Swiss bank trimmed its price target to €102 from €107 but maintained a positive outlook, citing Bilfinger’s valuation of 7.6x estimated 2027 EBITA as attractive versus peer SPIE, which trades near 11x.
For the quarter ended June 30, Bilfinger reported revenue of €1.45 billion, up 7% year-over-year, while earnings per share rose 13% to €1.47. Order intake totaled approximately €1.5 billion, marking the company’s third-highest quarterly figure in over a decade.
Management also noted that 90% of its 2026 revenue guidance was already secured through existing backlog. The stock remains 40% below its February peak and well below its 52-week high of €129.30.
The broader German MDAX index edged 0.34% higher, supported by strong overnight earnings from major U.S. technology companies. Market focus also included the Jackson Hole central bank symposium, though no rate-specific developments materially influenced trading.
