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Published on : Friday, November 15, 2013
HOCHTIEF is in a strong position at the end of the first nine months of 2013: The Group generated profit before taxes of EUR 705.8 million (double the level for the comparable period in 2012) and a net profit of EUR 150.4 million (versus EUR 89.8 million*). Adjusted for the impact from the disposals of the airports and services businesses (completed in the third quarter and now deconsolidated from January 1, 2013), as well as restructuring and other one-off items the Group produced an operating profit before taxes of EUR 415.2 million and a net profit of EUR 142.4 million, consistent with our full-year guidance. All areas contributed to this success with each operational division substantially improving performance.
“Throughout the Group, we are working to improve our earnings performance on a sustainable, cash-focused, basis. An optimized risk management approach Group-wide will help to reduce earnings volatility. At the same time, we are steadily implementing our new strategy by focusing on our core business and developing HOCHTIEF into the world’s leading infrastructure construction group with sustainable, cash-driven profitability,” said Marcelino Fernández Verdes, Chairman of the HOCHTIEF Executive Board.
The Group’s order backlog stood at EUR 43.5 billion at the end of the first nine months, representing a solid forward order book of 18 months. HOCHTIEF thus looks ahead with confidence to the remainder of the year and consequently reaffirms its guidance for 2013.