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| Hochtief delivers the best results ever in 2010 German building giant Hochtief generated its best results ever in 2010 despite the global financial crisis. All targets were attained or substantially exceeded. Profit before taxes grew by 26.8 percent to EUR 756.6 million (2009: EUR 596.9 million). Consolidated net profit shot up by 50.3 percent to EUR 288 million (2009: EUR 191.7 million). The Group accomplished growth in all reporting measures in 2010: At EUR 29.63 billion, new orders were up 31.8 percent on the prior year. New orders also surpassed the comparative figure on an exchange rate adjusted basis, at EUR 25.69 billion (2009: EUR 22.47 billion). Group work done came to EUR 23.23 billion in 2010 - an increase of 13 percent on 2009. Adjusted for exchange rate effects, work done was almost on a par with the prior year. The order backlog reached an all-time high of EUR 47.49 billion, showing growth of 34.2 percent on the prior-year figure (2009: EUR 35.37 billion). Going by the figure for work done in the year, this means the Group has a forward order book reaching over two years ahead. Hochtief expects a pretax profit of around EUR 1 billion and consolidated net profit of some EUR 600 million for the current fiscal year. For 2012, the Group anticipates a pretax profit of approximately EUR 1 billion and consolidated net profit of some EUR 500 million, according to the outcome of the aurelis Real Estate divestiture. In 2013, Hochtief aims to generate a pretax profit in excess of EUR 1 billion and consolidated net profit of around EUR 450 million excluding non-recurring income, i.e., from operating business. write your comments about the article :: © 2011 Construction News :: home page |