Hochtief AG — Earnings Release 2011

Nov 13, 2011

News Details

Ad-hoc | 13 November 2011 22:42

HOCHTIEF Aktiengesellschaft: Revised Group guidance for 2011 and 2012; guidance for 2013 confirmed

HOCHTIEF Aktiengesellschaft / Key word(s): Forecast

13.11.2011 22:42

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The macroeconomic situation has caused delays in the sale of the airport
activities. HOCHTIEF is still in close negotiations and is confident of
being able to seal the transaction in the near future. It is nonetheless
possible that this will no longer happen in 2011 as previously announced.
HOCHTIEF is also reviewing the assessment of potential risks for individual
PPP road contracts in Greece and Chile. This relates to the HOCHTIEF
Concessions and HOCHTIEF Europe divisions.

The Group therefore supplements its guidance for 2011 as follows:
Under the assumption that the airport transaction can be successfully
concluded in 2011, HOCHTIEF confirms its previous guidance for 2011. The
Group then expects profit before taxes to exceed half the prior-year figure
and consolidated net profit to be above its prior-year level. This still
applies if the above-mentioned review results in additional provisioning.

If the sale of the airport activities no longer takes place in 2011,
HOCHTIEF still expects strong operating earnings (EBITA) of some EUR 100
million-despite the losses incurred at Leighton in the first half of the
year. However, there would then be a loss before taxes in the low
double-digit millions of euros and a consolidated net loss of approximately
EUR 100 million. This still applies if the above-mentioned review results
in additional provisioning.

In light of the increasingly uncertain macroeconomic environment, HOCHTIEF
is revising its guidance for 2012 as follows:
The Group now expects profit before taxes and consolidated net profit
significantly higher than the current record set in 2010. These will
include the planned extraordinary items resulting from the sale of the
interests in aurelis Real Estate and all earnings effects from the airports
sale in 2012.

The Group is retaining its previous guidance for 2013 unchanged:
HOCHTIEF expects to attain pretax profit in excess of EUR 1 billion and
consolidated net profit of around EUR 450 million for 2013, purely out of
the operating business.

All planning is based on the assumption that there will be neither a
further marked slowdown in the global economy or disruptions in the
financial markets, nor actions by specific governments that materially
affect HOCHTIEF's business.

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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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