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| Hochtief Reports Successful First Quarter 2006 Essen-based Hochtief, Germany's biggest construction company, has had a successful first quarter 2006, with both orders and earnings growth as planned. First quarter 2006 operating earnings, at EUR 47.4 million, were almost on a par with the adjusted Q1 2005 figure of EUR 50.1 million excluding exceptional items. Profit before taxes was EUR 48.9 million, up 17.5 percent from the prior-year quarter (Q1 2005 excluding exceptional items: EUR 41.6 million). Consolidated net profit came to EUR 7.8 million, an improvement of 4.3 percent (Q1 2005 excluding exceptional items: EUR 7.4 million). New orders totaled EUR 3.34 billion, an increase of 18.9 percent from the prior year (Q1 2005: EUR 2.81 billion). Work done rose sharply to EUR 3.66 billion, exceeding the comparative figure for 2005 by 24.1 percent (Q1 2005: EUR 2.95 billion). The order backlog swelled accordingly by 12 percent to set another new record at EUR 21.56 billion (Q1 2005: EUR 19.25 billion). Hochtief generated external sales of EUR 3.42 billion in the first quarter of 2006 - an increase of 31.5 percent compared with the prior year (Q1 2005: EUR 2.6 billion). write your comments about the article :: © 2006 Construction News :: home page |