Bauer AG, the holding company for the Bauer Group of foundation drilling, construction and manufacturing companies, reported an after-tax loss of $28.9 million (USD) for the third quarter and forecast a loss of about $27 million (USD) for the year.
“The first nine months of 2013 were very unsatisfactory for our Group overall,” said Thomas Bauer , chairman of the management board of Bauer AG. “A number of special effects forced us, for the first time in many years, to report a loss. This will not impact on our earning power over the years ahead however. We are planning for a small amount of growth in 2014, and expect to return to a profit in all segments, enabling overall performance to resume the trend seen in 2012.”