MANNHEIM (dpa-AFX) – The change in industry towards climate-friendly systems will probably play into Bilfinger’s (Bilfinger SE) hands for years to come. The head of the industrial service provider expects plenty of orders even after the climate targets have been reached. “The optimization of the systems will take decades,” Thomas Schulz told journalists on Monday evening in Frankfurt. There’s a lot to do. New technology must also be maintained. At the same time, Bilfinger benefits from strongly fluctuating energy prices.
“We’re very busy when energy costs are through the roof, but we’re also very busy when energy costs are very low,” explained the manager. If energy costs were high, the companies at the locations affected would produce less and the plants would have to be shut down. On the other hand, if the energy costs are cheaper for longer, then companies expand their production and the plants would have to be converted accordingly. “We are active in both cases.” When energy costs are high, Bilfinger helps to shut down the plants, and when energy costs are low, to start them up. For Bilfinger itself, the price of energy does not play a major role because, according to Schulz, the company has almost no production facilities.
“But in the energy-intensive industries, we see a clear emigration movement from Germany to the USA in terms of investment volume,” added the CEO. It’s not just about the price of energy, but also about energy security. It is important for companies to have sufficient energy available at all times.
In Europe, either too much energy is fed in or too little, said the manager. This risks a so-called brownout. In this case, parts of the grid would be shut down in an uncontrolled manner if they were either overloaded or underloaded. “It’s a high risk,” he said. This happens when there are not enough buffers in an energy mix. It is good if a lot of wind energy is generated. However, wind turbines could not store the energy.
Nuclear power plants, but also gas and coal-fired power plants, could be ramped up and down, thereby keeping the load on the grid stable. “But we don’t want to use fossil energy. So where do the energy storage systems come from?” he asked.
Schulz therefore advocates that the nuclear power plants in Germany should remain in operation until the European energy market has stabilized. “In such a way that we don’t have to worry about whether we’ll get a warm or cold next winter,” he added.
Bilfinger is currently making itself leaner in order to become more profitable. In addition to Europe, the once global company now only has stores in the USA and the Middle East. When asked about possible expansion plans, Schulz said that “one’s own house had to be put in order” first. The company can then see where it is going.
At the moment, North America and the Middle East are growth markets that are growing much faster than the European market. Bilfinger is therefore also focusing on this in addition to Europe. The USA is interested in being industrialized again, explained Schulz. That will not change under a new president.
In the United States, a lot is invested and decisions are made quickly, much faster than in Europe. This attracts companies with investments. Schulz spoke of a “foreclosure policy” that also exists in other countries. “Whether I think that’s good or bad, as a business leader it doesn’t really matter,” he said. If Bilfinger wants to be involved in the USA, the company must also have more employees in the country./mne/tav/mis
Leverage must be between 2 and 20
No data