Q3 2024 Hochtief AG Earnings Call Transcript

Nov 7, 2024 / 03:00 PM GMT

Transcript

Key Points

Positve

Hochtief AG (HOCFF) reported a 10% year-on-year increase in group sales, reaching EUR23.6 billion.
Operational net profit rose by 12% to EUR450 million, with a nominal net profit increase of 61% year-on-year.
The company achieved a record order backlog of EUR66 billion, reflecting an 18% year-on-year growth.
Significant growth in strategic markets, with new orders up 15% year-on-year, particularly in advanced tech and sustainable infrastructure projects.
Strong cash generation with operating cash flow of EUR1.8 billion over the last 12 months, marking an increase of over EUR430 million year-on-year.

Negative

Hochtief AG (HOCFF) ended the period with a net debt position of EUR1.66 billion, influenced by strategic investments and seasonality.
The company's net cash position would have been EUR790 million, indicating a year-on-year increase of almost EUR860 million, but this is adjusted for several impacts.
Operational PBT at Cimic was up only 4% on a comparable basis year-on-year, indicating slower growth compared to other segments.
The engineering and construction segment's operational PBT remained stable at EUR61 million, with some project mix effects impacting margins.
Abertis' operational net profit pre-PPA remained at a similar level to last year, showing limited growth in this area.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HOTG.DE - Hochtief AG
Q3 2024 Hochtief AG Earnings Call
Nov 07, 2024 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon to everyone and thanks for joining us for this Hawk T results call for the first nine months of 24. I'm Mike Pinkney, head of Campbell and market strategy and I'm here with our CEO Juan Santa Maria, and our CFO Peter Sassenfeld, as well as our head of Ir Tobias loss camp and other colleagues from the senior management team at Hawk TF.

We look forward to taking your questions later but to kick off our CEO is going to run us through the details of this strong set of numbers and and provide you with an update on on the group's strategy. Juan, all yours.

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Unidentified_2 [2]
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