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ER - HOCHTIEF Aktiengesellschaft: HOCHTIEF lowers forecast for 2012 as earnings are affected at Leighton

Company: Hochtief AG Date: 2012-03-29 Language: English Register to download

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 News Details

Ad-hoc | 29 March 2012 00:56

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HOCHTIEF Aktiengesellschaft: HOCHTIEF lowers forecast for 2012 as earnings are affected at Leighton

**HOCHTIEF Aktiengesellschaft  / Key word(s): Forecast**

29.03.2012 00:56

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Following the downward revision of the earnings outlook at its Australian
subsidiary Leighton, HOCHTIEF has correspondingly lowered its own forecast
for the current fiscal year 2012: The HOCHTIEF Executive Board is now
anticipating the Group's profit before taxes from our operating business to
be slightly less than EUR 550 million. Consolidated net profit will come in
at just under EUR 180 million (figures previously expected to be slightly
below the record levels set in 2010; in that year, profit before taxes
amounted to EUR 757 million and consolidated net profit to EUR 288
million). In its updated forecast, HOCHTIEF reiterates its guidance for new
orders, the order backlog, and sales.

The adjustments at Leighton are due to a further deterioration in earnings
on the Airport Link road project in Brisbane and at the Victorian
Desalination Plant. Both projects are scheduled to be completed this year.


29.03.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      HOCHTIEF Aktiengesellschaft
              Opernplatz 2
              45128 Essen
              Germany
Phone:        +49 (0)201 824-1833
Fax:          +49 (0)201 824-2750
E-mail:       investor-relations@hochtief.de
Internet:     www.hochtief.de
ISIN:         DE0006070006
WKN:          607000
Indices:      MDAX
Listed:       Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
              Standard), Hamburg, München; Freiverkehr in Hannover,
              Stuttgart; Terminbörse EUREX
 
End of Announcement                             DGAP News-Service
 
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