Bilfinger cut its 2026 revenue, EBITA margin and free cash flow guidance as customers sharply reduced new orders and service call-offs under existing framework agreements, citing restraint and postponed investments linked largely to the prolonged conflict in the Middle East. Shares fell more than 24% by 07:28 GMT. The company launched Program Agile, which could affect up to 1,500 positions worldwide and is designed to generate annual savings of around €75 million from 2028, with benefits expected as early as 2027. Bilfinger also confirmed its 2030 targets for 8%-10% average annual revenue growth, an 8%-9% EBITA margin and cash conversion of at least 90%.