Investor Relations Company Presentation
150
YEARS
HOCHTIEF Group - Cash flow performance*
We are building the world of tomorrow.
A HOCHTIEF
• Very strong Q3 2023 cash flow from operating activities pre-factoring* of EUR 194m,
up EUR 135m yoy
•
-
Strong 9M 2023 cash flow* of 208m up EUR 87m yoy
This reflects characteristic seasonality and strong sales growth
Adjusting for seasonality, cash inflow of approx. EUR 1.3bn LTM highlights sustained
high level of cash conversion
Net operating capex increase driven by job-costed tunneling equipment and the initial, one-off
development capex for a major renewable project at CIMIC
• Free cash flow from operating activities pre-factoring* of EUR 140m in Q3 2023, up
EUR 127m yoy
Cash flow from operating activities pre-
factoring* (EURM)
59
194
+135m
Q3 2022
Q3 2023
(EUR million)
Cash flow from operating activities *
216.1
149.3
66.8
73.5
-4.7
78.2
9M
2023
9M
Δ
Q3
Q3
2022
9M
2023
2022
Δ
Q3
LTM
9M 2023
FY
2022
Cash flow from operating activities pre-
factoring* (EURM)
208
Variation in factoring
1)
7.8
27.6
-19.8
-120.6
-63.4
-57.2
1,354
56
1,287
Cash flow from operating activities pre-factoring *
208.3
121.7
86.6
194.1
58.7
135.4
1,298
76
1,212
+87m
122
Gross operating capital expenditure
-169.0
-119.3
-49.7
-53.3
-51.3
-2.0
-237
Operating assets disposals
11.6
11.2
0.4
-0.9
6.0
-6.9
24
Net operating capital expenditure
-157.4
-108.1
-49.3
-54.2
-45.3
-8.9
-213
-188
24
-164
Free cash flow from operating activities *
Free cash flow from operating activities pre-factoring *
58.7
50.9
41.2
17.5
19.3
-50.0
69.3
1,141
1,123
9M 2022
9M 2023
13.6
37.3
139.9
13.4
126.5
1,085
1,048
= Cash flow figures underlying, i.e. excluding one-off payments at CIMIC (for legacy project CCPP) and at HOCHTIEF Europe (final payment for legacy Chilean project)
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