Hochtief reports loss in 1H2011
Germany’s Hochtief reports (17-Aug-2011) the following consolidated financial highlights for the six months ended Jun-2011:
- Sales: EUR10,375 million, +8.9% year-on-year;
- Profit before tax: (EUR434.6 million), compared with a profit of EUR301.6 million in p-c-p;
- Profit after tax: (EUR326.5 million), compared with a profit of EUR200.1 million in p-c-p.
- Net profit/loss: (EUR155.6 million), compared with a profit of USD88.1 million in p-c-p. [more]
Hochtief: “Our guidance for 2012 and 2013 remains unchanged: For 2012, the Group anticipates a pretax profit of approximately EUR1 billion and consolidated net profit of some EUR500 million - according to the outcome of the aurelis Real Estate divestiture. In 2013, Hochtief plans to attain pretax profit in excess of EUR1 billion and consolidated net profit of around EUR450 million excluding non-recurring income - that is, from the operating business,” Source: Company statement, 17-Aug-2011.