STOCKS | Bilfinger Cuts 2026 Guidance, Plans Up to 1,500 Job Cuts

Bilfinger said it is lowering its full-year outlook and will cut up to 1,500 jobs worldwide. According to Sina Finance, the industrial services company said the Middle East war was the main reason for delays in customer investment projects. Bilfinger said it now expects 2026 revenue of 5.3 billion to 5.7 billion euros, down from a previous forecast of 5.4 billion to 5.9 billion euros. It also lowered its EBITA margin forecast, excluding one-off items, to 4.6% to 5.0% from 5.8% to 6.2%. The company said the plan is part of its Program Agile restructuring project. It said the program aims to save about 75 million euros a year, will be fully implemented in 2028, and will cost 75 million euros to carry out. Bilfinger shares fell 20% in early European trading on Thursday. Bernstein analysts said in a research note that the downgrade was far worse than the previous lower end of expectations and that the weaker performance was a cyclical issue driven by market demand.