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HOCHTIEF (HOT) investor relations material
HOCHTIEF Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Achieved strong sales and profit growth in the first nine months of 2025, with sales up 19% year-over-year (24% FX adjusted) to EUR 28.1 billion and operational net profit up 19% to EUR 538 million (26% FX adjusted).
Raised operational net profit guidance for 2025 to EUR 750–780 million, implying a 20–25% year-on-year increase.
Strategic focus on digital infrastructure, energy, defense, and critical minerals, leveraging global footprint and engineering know-how.
Strategic acquisitions (Dornan Engineering, Flatiron-Dragados JV) and full consolidation of Thiess enhanced presence in growth markets.
New orders reached EUR 36.6 billion, up 19% FX adjusted, with order backlog at EUR 69.6 billion, up 12% FX adjusted.
Financial highlights
EBITDA increased 21% year-over-year to EUR 1,573 million; EBIT up 20% to EUR 1,074 million.
Operational net profit: EUR 538 million (+19% year-over-year), Q3 up 22% year-over-year.
Nominal net profit: EUR 656 million (+13%), including EUR 118 million in one-off gains (mainly Flatiron transaction).
Operating cash flow (LTM): EUR 2.1 billion, up EUR 0.4 billion year-over-year pre-factoring.
Dividend per share for FY 2024 was EUR 5.23, a 19% increase year-over-year.
Outlook and guidance
FY 2025 operational net profit guidance raised to EUR 750–780 million (20–25% increase year-over-year, previous: EUR 680–730 million).
Turner segment guidance for 2025 operational PBT increased to EUR 850–900 million.
CIMIC expected to achieve operational PBT of EUR 480–510 million in 2025.
Engineering and Construction segment expected operational PBT: EUR 85–95 million.
Continued strong cash conversion and robust Q4 cash flow expected.
Flatiron Dragados: PBT impact post-deconsolidation?
Turner's data center growth drivers and strategy?
M6 Stage 1 tunnel project: current status and risk?
Data center growth: any labor/supply bottlenecks?
Bolt-on M&A: what value drivers?
Turner's non-tech market: growth/decline areas?
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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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