July 11, 2017 / 7:38 PM / 5 months ago

Bilfinger issues profit warning on legacy U.S projects

FRANKFURT, July 11 (Reuters) - German engineering services group Bilfinger issued its first profit warning in more than two years on Wednesday, blaming legacy U.S. projects that new Chief Executive Thomas Blades is trying to work his way through.

Bilfinger said it now expects breakeven at EBITA (earnings before interest, tax and amortisation) level for 2017, abandoning its previous target of raising its EBITA margin by 100 basis points from 0.4 percent in 2016. (Reporting by Georgina Prodhan; Editing by David Goodman)

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