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| Hochtief is optimistic for 2010 German construction giant Hochtief once again proved its strength in fiscal 2009. Consolidated net profit climbed significantly despite the financial crisis to EUR 195.2 million, 24.5 percent higher than in the prior year (2008: EUR 156.7 million). The company raised its forecast for the order backlog part way through the year and set a new all-time record of EUR 35.59 billion at the year-end. The Group remains in a stable position on the orders front: The order backlog increased by 15 percent in 2009 to beat the prior-year level by a comfortable margin (2008: EUR 30.96 billion*). New orders mirrored the wait-and-see sentiment on global markets as expected and ended short of the prior-year figure at EUR 22.47 billion in 2009 (2008: EUR 25.28 billion). Work done fell only slightly short of the high prior-year figure with a decrease of 4.9 percent year on year for a 2009 total of EUR 20.56 billion (2008: EUR 21.62 billion*). Despite a difficult economic environment, the Group generated sales of EUR 18.17 billion, only 2.9 percent down on the prior year (2008: EUR 18.7 billion*). New orders therefore remained above both work done and sales. Based on the annual work done figure just published, the Group has a forward order book of around 21 months. Hochtief achieved outstanding earnings figures in spite of the global economic downslide in the year under review. Operating earnings/EBITA rose by 17.5 percent compared with the prior year to EUR 767.2 million (2008: EUR 652.9 million). All operating divisions contributed positively to this total. The construction services provider profited especially from the improved earnings situation in the Hochtief Europe division, where the turnaround has now been achieved. Profit before taxes likewise further improved, with the Group generating a total of EUR 600.5 million in 2009 (2008: EUR 496.9 million) - an increase of 20.8 percent. Earnings per share climbed by 30 percent to EUR 2.93 (2008: EUR 2.26). Hochtief stock performed above average, with the stock price rising by EUR 17.81 (49.8 percent) over the course of the year to close at EUR 53.55. The MDAX - the benchmark for Hochtief - increased by 34 percent in 2009. Hochtief aims to let shareholders participate adequately in the company's success. At the General Shareholders' Meeting on May 11, 2010, the Executive Board and the Supervisory Board will be submitting a proposal to pay out a dividend of EUR 1.50 (2008: EUR 1.40) per no-par-value share. This means Hochtief will have increased its dividend by just under 14 percent a year since 2005. The proposed dividend also expresses the Group's confidence in its future business performance. write your comments about the article :: © 2010 Construction News :: home page |