Bilfinger secures hydrogen plant contract amid global restructuring

Bilfinger has secured a new contract from EWE GASSPEICHER GmbH to build a hydrogen processing plant in Huntorf. This project marks the first commercial application of the company’s H2Dry technology.

Despite these technical successes in the sustainable energy sector, Bilfinger is undergoing a major restructuring program titled ‘Agile’ to address market challenges, including reduced customer investments and geopolitical conflicts in the Middle East. The restructuring could impact up to 1,500 jobs globally and involves one-time expenses of approximately 75 million euros.

In response to these developments, UBS has lowered its price target for Bilfinger to 72 euros, though it maintains a ‘Buy’ rating.