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HOCHTIEF Lowers Forecast for 2012 as Earnings are Affected At Leighton - HOCHTIEF has correspondingly lowered its own forecast for the current fiscal year 2012 - HOCHTIEF.de
HOCHTIEF Lowers Forecast for 2012 as Earnings are Affected At Leighton

 

NewswireToday - /newswire/ - Essen, Germany, 2012/03/29 - HOCHTIEF has correspondingly lowered its own forecast for the current fiscal year 2012 - HOCHTIEF.de. ASX: CIM

   
 
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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.

About HOCHTIEF

HOCHTIEF's business (hochtief.de) is shaped by innovative thinking, competence, working in a spirit of partnership and maintaining transparency. We are a reliable, trustworthy partner to our clients and dedicated to providing quality–in all project phases, for all the modules of our product and service portfolio.

Implementing these strategic principles as part of our daily routine represents a conscious effort to fulfill our Vision: "HOCHTIEF is building the future. –Along with our partners, we expand horizons, link people and organizations, create new ways to think and act, and continually enhance the values entrusted to our care."

 
 
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Written by / Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Lowers Forecast for 2012 as Earnings are Affected At Leighton

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Publisher Contact: Christian Gerhardus - HOCHTIEF.de 
+49 201 824-2642 presse[.]hochtief.de
 
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