PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: HOCHTIEF AG

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

HOCHTIEF Confirms Outlook for 2012 - Special Effects Negatively Impact Earnings in 2011 - Despite a good solid operational performance HOCHTIEF was not able to completely compensate the losses from Leighton - HOCHTIEF.de
HOCHTIEF Confirms Outlook for 2012 - Special Effects Negatively Impact Earnings in 2011

 

NewswireToday - /newswire/ - Essen, Germany, 2012/01/30 - Despite a good solid operational performance HOCHTIEF was not able to completely compensate the losses from Leighton - HOCHTIEF.de.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Construction/Architecture/Infra Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

• 2011 a year of transition - good outlook for 2012;
• Burdens of the past affect 2011 earnings;
• Consolidated net loss of around EUR 160 million expected.

The result of the Australian subsidiary was affected throughout the last year by two major projects and by further extraordinary effects. After this has been dealt with in 2011 HOCHTIEF has a sound operational basis for 2012: The divisions of the HOCHTIEF Group have performed well. New orders in the fourth quarter were very strong with a total of approximately EUR 9 billion.

However, HOCHTIEF had additional extraordinary effects in the fourth quarter including negative impacts on earnings at Leighton and expenses for former HOCHTIEF Executive Board members. On January 16, 2012, Leighton reported impairments to its investment in its subsidiary in Dubai and the operator company BrisConnections. The negative impact on profit before taxes amounted to approximately AUD 120 million or approximately EUR 89 million. Furthermore, the total amount of expenses incurred due to special termination rights exercised by former Executive Board members as a result of the change of control increased by around EUR 19 million to roughly EUR 35 million in Q4 2011.

HOCHTIEF now anticipates a pretax loss of approximately EUR 130 million for the full year 2011 (previously guided: loss in the low double-digit million euro range) and a consolidated net loss of around EUR 160 million (previously guided: approximate negative of EUR 100 million).

Dr. Frank Stieler, CEO of HOCHTIEF: "We thus complete a year in which we have handled many changes and burdens of the past. This is reflected in the financial statements. At the same time, HOCHTIEF (hochtief.com) has proven its excellent market position by a very high volume of new orders in the fourth quarter. As a result, our order backlog at year-end has increased to approximately EUR 48 billion. This gives us comfort and therefore we confirm our guidance for 2012: We continue to expect an operative profit that will be slightly below the previous record year 2010."

The operational performance of HOCHTIEF’s divisions over the last months of 2011 was good: The Americas and Europe divisions closed fiscal 2011 with higher profit before taxes than in 2010. Asia Pacific was impacted by the above mentioned extraordinary effects. However, on January 16, 2012, the Australian subsidiary Leighton reported an increase in operating profit after taxes from the recent guidance of AUD 250 million to roughly AUD 270 million for the past six months. As already envisaged the profit before taxes of the HOCHTIEF Concessions division was dominated by extraordinary effects in the form of value adjustments for toll road projects in Greece and Chile (combined total amount booked in Q4 2011 approximately EUR 90 million).

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Construction/Architecture/Infra Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: HOCHTIEF AG

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Construction/Architecture/Infra articles,
CATCH Visitors via Your Competitors Announcements!


HOCHTIEF Confirms Outlook for 2012 - Special Effects Negatively Impact Earnings in 2011

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

HOCHTIEF AG |
Publisher Contact: Christian Gerhardus - HOCHTIEF.de 
presse[.]hochtief.de
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any HOCHTIEF AG securities in any jurisdiction including any other companies listed or named in this release.

Construction/Architecture/Infra via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From HOCHTIEF AG / Company Profile


Read Construction/Architecture/Infra Most Recent Related Newswires:

CIMIC's Thiess Extends Operations in Botswana
PCL Construction Wins Five Top Projects Awards
CIMIC Investment, HLG Awarded A$215M Project in Qatar
CIMIC's CPB Contractors Wins Water Treatment Plant
Business of Design Week 2016 Architects Drafting the Future City
CIMIC's Thiess Awarded Contract Expansion & Extension At Melak
Major Step in Unique Engineering Project as Chernobyl Arch Slides into Place
CIMIC’S CPB Contractors Wins Amberley Base Upgrade Project
VINCI Airports, the Caisse Des Dépôts and Crédit Agricole Assurances Finalise the Acquisition of 60% of Aéroports de Lyon
CIMIC Investment, HLG Awarded AED490m Project in Dubai
PCL Construction Recognized for Building One of America’s Top Roads
Nordic PCL Awarded Mixed-Use Ke Kilohana at Ward Village in Honolulu
Test Confirms ePIPE's LeadSmart™ Technology Brings Lead Levels into Compliance with EPA Guidelines
HOCHTIEF Recognized in World’s Largest Climate Protection Ranking with New Award
PCL Constructors Canada, Inc. Opens Up the Doors to The Government Conference Centre Rehabilitation Project

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  JobsWare.com





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)