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Hochtief 2Q2009 revenue down 10.2%

17-Aug-2009 12:28 PM

Germany’s Hochtief revenue down 10.2% - financial highlights:

  • Three months ended 30-Jun-2009:
    • Revenue: EUR4,727 million, -10.2% year-on-year;
    • Operating profit: EUR207.8 million, +56.4%;
    • EBITDA: EUR206.7 million, -7.8%;
    • Profit before tax: EUR160.7 million, -14.9%;
    • Net profit: EUR43.9 million, -6.7%;
    • New orders: EUR5,724 million, -18.9%;
    • Order backlog: EUR33,107 million, +3.8%;
  • Six months ended 30-Jun-2009:
    • Revenue: EUR9,129 million, +0.7%;
    • Operating profit: EUR277.0 million, +75.3%;
    • EBITDA: EUR348.7 million, -2.1%;
    • Profit before tax: EUR259.3million, -11.3%;
    • Net profit: EUR68.1 million, -13.9%;
    • New orders: EUR10,101 million, -18.1%;
    • Order backlog: EUR33,109 million, +3.8%;
    • Hochtief Concessions Division:
      • New orders: 112.0 million, -37.2%;
        • Hochtief AirPort: EUR8.4 million, +33.3%;
      • Work done: EUR96.9 million, +22.0%;
        • Hochtief AirPort: EUR8.4 million, +30.2%;
      • Order backlog: EUR837.0 million, +2.3%;
      • EBITDA: EUR41.2 million, -26.7%;
        • Hochtief AirPort: EUR41.0 million, -29.8%;
      • Capital expenditure: EUR48.2 million, compared to an expenditure of EUR4.0 million in the previous corresponding period;
        • Hochtief AirPort: EUR47.7 million, n/a. [more]

Hochtief: “Looking at the fiscal year as a whole, the Group is working on the assumption that the international financial and capital markets will normalize again from 2010, that no ongoing recessionary slowdown will occur in the global economy, and that the situation in areas of political tension will not deteriorate. Against this backdrop, six months into the year, HOCHTIEF once again confirms its forecast for 2009 as a whole and expects as before that new orders, the order backlog and Group sales will steady at normal levels, below the high figures attained in 2008 and profit before taxes and consolidated net profit, as previously forecasted, will both reach similarly high levels to 2008,” Company statement. Source: Hochtief, 14-Aug-2009.