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HOCHTIEF (HOT) investor relations material

HOCHTIEF Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary23 Jul, 2025

Executive summary

  • Operational net profit rose 18% year-over-year to EUR 355m, at the top end of guidance; sales increased 25% to EUR 18.4bn, driven by strong organic growth, strategic investments, and acquisitions.

  • New orders surged 26% year-over-year (FX adjusted) to EUR 26.1bn, with all segments contributing; order backlog reached EUR 69bn, up 15% (FX adjusted), providing 21 months of visibility.

  • Strong operating cash flow over the last twelve months at EUR 2.0bn, with high cash conversion and disciplined capital allocation.

  • Strategic M&A included the acquisition of Dornan Engineering and the Flatiron-Dragados combination, enhancing advanced-tech and North American civil engineering capabilities.

  • FY 2025 guidance reiterated for operational net profit of EUR 680–730m, up to +17% year-over-year.

Financial highlights

  • Sales: EUR 18.4bn (+25% yoy); EBITDA: EUR 1,025m (+24% yoy); EBIT: EUR 690m (+15% yoy).

  • Operational PBT: EUR 588m (+33% yoy); operational net profit: EUR 355m (+18% yoy); nominal net profit: EUR 481m (+10% yoy), including EUR 126m in one-off gains.

  • Operating cash flow LTM: EUR 2.0bn; net debt increased to EUR 1.4bn, mainly due to capital allocation and FX effects.

  • Dividend per share for FY 2024: EUR 5.23 (+19% yoy), 65% payout of operational net profit.

  • Book-to-bill ratio at 1.2x; order backlog up 15% yoy (FX adjusted).

Outlook and guidance

  • FY 2025 operational net profit guidance maintained at EUR 680–730m, representing up to 17% growth year-over-year.

  • Turner segment expects operational PBT of EUR 660–750m (+16–32% yoy); CIMIC targets operational PBT of EUR 480–510m.

  • Engineering and Construction segment guidance for operational PBT of EUR 85–95m.

  • Abertis expected to deliver operational result similar to EUR 81m in 2024.

  • Dividend policy remains at 65% payout of operational net profit.

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Frequently asked questions

HOCHTIEF engages in the construction business worldwide. It operates through five segments: Americas, Asia Pacific, Europe, Middle East and Africa, and Group Functions. The company constructs tunnels, highways, and bridges; underground railways; airports and other transportation facilities; power stations and plants for water supply and disposal; sports facilities; convention centers; office buildings; industrial buildings; hotels, cultural centers and museums; shopping centers and stores; hospitals and schools; ships and offshore units; as well as residential buildings. HOCHTIEF was founded in 1873 and is headquartered in Essen, Germany.

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