HOCHTIEF Geschäftsbericht 2008

 

Five Year Summary

    2004 2005 * 2006 2007 2008
             
New orders EUR million EUR million 15.587 15.599 20.565 23.509 25.284
Of total: domestic   2.754 2.545 1.744 3.192 2.549
international   12.833 13.054 18.821 20.317 22.735
Work done EUR million EUR million 13.107 14.854 16.719 18.773 21.643
Of total: domestic   2.389 2.383 2.222 2.410 2.824
international   10.718 12.471 14.497 16.363 18.819
Order backlog at year-end EUR million EUR million 18.715 21.096 25.134 29.894 30.922
Of total: domestic   3.210 3.325 2.799 3.904 3.583
international   15.505 17.771 22.335 25.990 27.339
             
Employees (average for year) Total Number Anzahl 36409 41469 46847 52449 64527
Of total: domestic   9423 9761 9639 10152 11004
international   26986 31708 37208 42297 53523
             
External sales EUR million EUR million 11.944 13.653 15.466 16.452 19.103
Decrease/increase on prior year %   13.4 14.3 13.3 6.4 16.1
Materials EUR million EUR million 9.151 10.422 11.682 12.327 14.251
Materials ratio % % 76.6 76.3 75.5 74.9 74.6
Personnel costs EUR million EUR million 1.835 2.162 2.584 2.807 3.266
Payroll ratio % % 15.4 15.8 16.7 17.1 17.1
Depreciation and amortization EUR million EUR million 263 287 325 312 392
Profit from operating activities EUR million EUR million 156 280 179 123 311
Net income from participating interests EUR million EUR million 34 63 130 354 306
Net investment and interest income EUR million EUR million -3 -6 29 24 -97
Profit before taxes EUR million EUR million 187 337 338 501 520
Of which: Americas EUR million EUR million 42 48 59 76 77
Asia Pacific EUR million EUR million 109 203 262 404 327
Concessions EUR million EUR million -** -** -** 155 110
Europe EUR million EUR million 29 42 2 -149 -34
Real Estate EUR million EUR million -** -** -** 59 54
Services EUR million EUR million -** -** -** 20 23
Return on sales % % 1.6 2.5 2.2 3.0 2.7
Profit after taxes EUR million EUR million 81 156 201 341 342
Return on equity % % 4.3 7.1 8.6 11.4 12.0
Consolidated net profit EUR million EUR million 41 68 89 141 175
EBITDA EUR million EUR million 490 652 652 852 1.068
Operating earnings (EBITA) EUR million EUR million 227 366 327 539 676
Of which: Americas EUR million EUR million 55 55 60 77 103
Asia Pacific EUR million EUR million 119 220 277 441 427
Concessions EUR million EUR million -** -** -** 185 146
Europe EUR million EUR million 26 27 -3 -132 -30
Real Estate EUR million EUR million -** -** -** 63 82
Services EUR million EUR million -** -** -** 22 27
Earnings per share EUR EUR 0.65 1.07 1.37 2.07 2.52
Dividend per share EUR EUR 0.75 0.90 1.10 1.30 1.40
Dividends paid EUR million EUR million 53 63 77 91 98
             
RONA 1 % % 8.7 13.1 12.1 14.9 13.5
             
Free cash flow 2 EUR million EUR million 179 336 486 -945 -635

* Restated due to first-time application of IAS 19
** Division only in existence since change in Group structure effective January 1, 2008
1 Return on capital has been measured using RONA since 2005. The 2004 figures are adjusted to the new measurement system for comparison purposes.
2 Free cash flow: Net cash provided by operating activities and net cash used for investing activities

    2004 2005 2006* 2007 2008
             
Assets            
Intangible assets EUR million 297 330 397 505 483
Property, plant and equipment EUR million 666 682 752 1,028 1,120
Investment properties EUR million 234 207 46 41 43
Financial assets EUR million 959 913 951 2,018 2,099
Other non-current assets EUR million 383 248 267 666 653
Non-current assets EUR million 2,539 2,380 2,413 4,258 4,398
As % of total assets   34.9 29.5 28.9 40.0 36.4
Inventories EUR million 49 35 73 120 131
Receivables and other assets EUR million 2,935 3,622 3,542 4,110 4,973
Marketable securities and cash and cash equivalents EUR million 1,762 2,024 2,328 2,169 2,597
Current assets EUR million 4,746 5,681 5,943 6,399 7,701
As % of total assets   65.1 70.5 71.1 60.0 63.6
Total assets EUR million 7,285 8,061 8,356 10,657 12,099
             
Liabilities and Shareholders' Equity            
Attributable to the Group EUR million 1,549 1,665 1,808 2,298 1,966
Minority interest EUR million 356 537 538 703 895
Shareholders' equity EUR million 1,905 2,202 2,346 3,001 2,861
As % of total assets   26.1 27.3 28.0 28.2 23.6
As % of non-current assets   75.0 92.5 97.2 70.5 65.1
Non-current provisions EUR million 512 365 230 345 435
Non-current financial liabilities EUR million 702 831 772 1,324 1,678
Other non-current liabilities EUR million 71 96 82 162 313
Non-current liabilities EUR million 1,285 1,292 1,084 1,831 2,426
As % of total assets   17.6 16.0 13.0 17.2 20.1
Current provisions EUR million 578 644 789 755 715
Current financial liabilities EUR million 472 257 272 643 1,248
Other current liabilities EUR million 3,045 3,666 3,865 4,427 4,849
Current liabilities EUR million 4,095 4,567 4,926 5,825 6,812
As % of total assets   56.3 56.7 59.0 54.6 56.3
Total liabilities and shareholders' equity EUR million 7,285 8,061 8,356 10,657 12,099
  % 9.1 8.5 9.0 9.6 9.3
Property, plant and equipment ratio 3            
Capital expenditure, including acquisitions total EUR million 678 574 1,044 1,774 1,156
Of total: Intangible assets EUR million 12 11 11 6 13
Of total: Property, plant and equipment EUR million 427 486 727 697 633
Of total: Investment properties EUR million 1 - - - -
Of total: Financial assets EUR million 238 77 306 1,071 510
Capital expenditure ratio 4 % 20.1 20.7 31.0 25.0 21.9
Depreciation and amortization ratio 5 % 59.7 57.8 44.0 44.4 60.7
             
Receivables turnover 6   4.7 4.5 4.6 4.7 4.6
Total assets turnover 7   1.6 1.8 1.9 1.7 1.7
             
Net financial assets/(liabilities) EUR million 676 1,033 1,387 323 (212)
3 Property, plant and equipment ratio: Property, plant and equipment as Aa percentage of total assets
4 Capital expenditure ratio: Capital expenditure on intangible assets, property, plant and equipment and investment properties as a percentage of cumulative cost of acquisition
5 Depreciation and amortization ratio: Depreciation and amortization as a percentage of intangible assets, property, plant and equipment and investment properties
6 Receivables turnover: Ratio of external sales to average trade receivables
7 Total assets turnover: Ratio of external sales to average total assets


 
HOCHTIEF Geschäftsbericht 2008 | Copyright 2008 HOCHTIEF