Erbud has taken over the German service company Bilfinger RohrLeitungsbau GMBH, which will operate under the name IKR in the Erbud Group, informed President Dariusz Grzeszczak. In 2020, it had EUR 39.3 million in revenues, while the potential for EUR 50-60 million, from 2022.
“Today we officially announce that we are the owner of a new company. It has existed for 30 years, like Erbud, it has similar roots. In 2020 it had 39.3 million euros in revenues, but it was a weaker year. It has a potential of 50-60 million euros and these are the goals for next year, including around 40 million, next year it should go towards 50 million, “said Grzeszczak during a press conference on Tuesday. “IKR is a typical service company,” he added.
It employs approx. 300 people. Bilfinger RohrLeitungsbau deals with scheduled repairs, project management and coordination, prefabrication, design and engineering work in the field of small and medium-sized pipeline projects and installation of pipeline systems.
“We are going towards 5% profitability in the following years, and the goal is profitability as in IVT [the previously acquired German company], that is between 5 and 10%” – informed Grzeszczak on the assumed profitability of IKR.
IKR will be consolidated from June 1.
The CEO also informed that the company, due to the specific nature of its operations, does not have cash, and therefore will require EUR 3-5 million of credit and guarantee lines to be provided.
Bilfinger Rohrleitungsbau GmbH has been operating under the present name since 2013. Previously, the company operated as BIS IKR GmbH. After being taken over by Erbud, the company will revert to its previous name. Bern König will retain the position of president, Andreas Schmitz, president of the service company IVT Weiner + Reimann GmbH from Oberhausen, which was taken over by ERBUD in 2018, will join the management board.
Source: ISBnews
