|
contents | business | |||||||||
| Hochtief announces nine month 2012 results Nine months into the year, German builder Hochtief reports a pretax profit again in all divisions. New orders, work done, and the order backlog picked up substantially compared with the same period a year earlier and sales likewise showed a marked increase. Key figures, January to September 2012 Work done as of September 30, 2012, at EUR 21.65 billion, exceeded the prior-year figure (Q1-3 2011: EUR 17.65 billion) by 22.7 percent (exchange rate adjusted: 13.1 percent). At EUR 22.25 billion as of the reporting date, new orders were 38.0 percent up on their prior-year level (Q1-3 2011: EUR 16.12 billion). Excluding exchange rate effects, new orders beat the prior-year figure by 27.0 percent. The order backlog reached an absolute figure of EUR 50.36 billion as of September 2012 (Q1-3 2011: EUR 44.52 billion). This marked a 13.1 percent increase on the prior-year period (exchange rate adjusted: 3.7 percent increase). The Group started fiscal 2012 with a record order backlog of EUR 48.67 billion. Sales grew strongly, totaling EUR 18.51 billion, up 17.5 percent on the comparative prior-year figure (Q1-3 2011: EUR 15.76 billion). Profit before taxes in the first nine months, at EUR 354.7 million, represented a substantial improvement on the prior-year figure (Q1-3 2011: EUR 101.6 million loss before taxes); at EUR 92.0 million, consolidated net profit likewise showed a major improvement on the comparative prior-year figure (Q1-3 2011: consolidated net loss of EUR 57.0 million). Group outlook For fiscal year 2012, Hochtief confirms its forecast that new orders will be at the high prior-year level. The order backlog and sales are also expected to be on a par with 2011. The Group continues to anticipate a pretax profit from operating activities of just under EUR 550 million and consolidated net profit of just under EUR 180 million. After the provisions recognized in Europe in the first half of the year, though, it will be much more challenging to achieve these targets. write your comments about the article :: © 2012 Construction News :: home page |