Reconciliation of profit from operating activities to operating earnings (EBITA)
| (EUR thousand) | Q1-Q3 2008 | Q1-Q3 2007 | Q3 2008 | Q3 2007 |
|---|---|---|---|---|
| Profit from operating activities | 315,290 | 106,975 | 157,312 | 46,333 |
| + Net income from participating interests | 192,188 | 208,431 | 18,998 | 109,929 |
| - Non-operating earnings | (+) 7,849 | (+) 1,175 | (+) 6,355 | (+) 531 |
| + Interest credited* | 34,151 | 27,556 | 10,624 | 11,561 |
| Operating earnings (EBITA) | 549,478 | 344,137 | 193,289 | 168,354 |
*A change in Group structure as of January 1, 2008 resulted in an adjustment
relating to the interest credit. Unlike in the previous year's published
reports, an interest credit is only recognized for the divisions within the
construction module, i.e. HOCHTIEF Americas, HOCHTIEF Asia
Pacific and HOCHTIEF Europe.
Undiluted and diluted earnings per share
| (EUR thousand) | Q1-Q3 2008 | Q1-Q3 2007 | Q3 2008 | Q3 2007 |
|---|---|---|---|---|
| Consolidated net profit (EUR thousand) | 105,182 | 70,695 | 26,149 | 56,919 |
| Number of shares in circulation (weighted average) | 69,954,090 | 67,157,747 | 69,968,269 | 69,350,975 |
| Earnings per share | 1.50 | 1.05 | 0.37 | 0.82 |
Earnings per share can become diluted as a result of potential shares (mainly
stock options and convertible bonds). HOCHTIEF?s share-based
payment arrangements do not have a dilutive effect on earnings. Consequently,
diluted and undiluted earnings per share are identical.
Responsibility Statement
To the best of our knowledge, and in accordance with the
applicable reporting principles for interim financial reporting,
the interim consolidated financial statements give a true
and fair view of the assets, liabilities, financial position and
profit or loss of the Group, and the interim management
report of the Group includes a fair review of the development
and performance of the business and the position of
the Group, together with a description of the principal opportunities
and risks associated with the expected development
of the Group for the remaining months of the fiscal
year.
Essen, October 30, 2008
The Executive Board Dr. Lütkestratkötter Ehlers Dr. Lohr Dr. Noé Dr. Rohr
