News / HOCHTIEF announces improved results but still not enough for ACS

HOCHTIEF announces improved results but still not enough for ACS

🕔 February 28, 2013

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 A few highlights of the results presented by HOCHTIEF:

  • New orders reached a new record with a total of €31.49 billion and growth of 24.1 % (2011: €25.37 billion).
  • The order backlog grew by 2.3 percent to a new all-time high of €49.79 billion (2011: €48.67 billion).
  • Profit before taxes came to €546.4 million (2011: loss before taxes of €127 million).
  • The consolidated net profit amounted to €158.1 million (2011: consolidated net loss of €160.3 million).

It's important to consider that the focus on the infrastructure business  will result in HOCHTIEF's portfolio adjustments:

  • In Asia, the sale of the telecommunications businesses by Leighton is already underway.
  • In Europe, HOCHTIEF is considering the sale of its facility and energy management activities.
  • HOCHTIEF is also weighing alternative strategic options for its subsidiaries HTP and formart, which come under the Real Estate Solutions segment at HOCHTIEF Solutions. These businesses currently tie up considerable amounts of capital. Strategic alliances are a possibility here.
  • The Group continues to advance its existing plans to sell the airports business and its subsidiary aurelis (likewise part of Real Estate Solutions).

All of these processes are to be brought to completion depending on market conditions. The released capital will be used to repay debt, to strengthen the infrastructure business, and to look for new strategic core business opportunities in the market.

 Visit press release

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