Investor Relations Company Presentation
150
YEARS
A HOCHTIEF
Nom. net profit
We are building the world of tomorrow.
Op. net profit
EURM
+6%
403
381
HOCHTIEF Group - 9M 2023 overview
Operational net profit EUR 403m, +6% yoy; nominal net profit EUR 381m, +7%
Solid performance with sales up 11% yoy fx-adj. at EUR 20.4bn, driven by all divisions
✓ Double-digit net profit growth adjusting for fx-effects
Robust operational NPAT margin of 2.0%; EBITDA and EBIT margins stable at 4.5% and 3.3%
Strong Q3 2023 cash flow from operating activities pre-factoring* up EUR 135m yoy
9M 2023 cash flow* of EUR 208m substantially up by EUR 87m yoy
Cash flow from op. activities pre-factoring* of approx. EUR 1.3bn LTM highlights sustained high level
of cash conversion when adjusting for seasonality
Net operating capex increase driven by job-costed tunneling equipment and the initial, one-off
development capex for a major renewable project at CIMIC
Net debt reduced by EUR 158m yoy driven by a EUR 478m underlying improvement
✓ EUR 301m dividend paid to HOCHTIEF shareholders in July 2023
✓ Seasonally strong operating cash flow expected for Q4 2023
New orders of EUR 27.8bn in 9M 2023, exceptional growth of EUR 7bn yoy (+39% fx-adj)
✓ Continuation of strong growth trend in Q3 (new orders +51%) driven by strategic focus on high-
growth markets which accounted for over 50% of new orders in 9M 2023
✓ The vast majority of new orders is of lower risk nature
✓ Order backlog of EUR 56.1bn, up EUR 3.3bn or +14% fx-adjusted yoy
✓ Proportion of lower-risk order book has significantly increased over last 5 years to approx. 85%
Guidance FY 2023 confirmed: operational net profit of EUR 510 – 550m
✓ Strategic focus on rapidly expanding high-tech, energy transition and sustainable infrastructure
markets driving strong order book growth, positive profit momentum and further improving risk profile
Starting to deploy equity in high-tech infrastructure projects (e.g. solar, EV chargers and data centers)
✓ Dividend of EUR 4.00/ share (vs. EUR 1.91 for 2021) paid in Q3 2023
* = Cash flow figures pre-factoring, and underlying, i.e. excluding extraordinary payments
+7%
381
355
9M 2022 9M 2023
9M 2022 9M 2023
Cash flow from operating activities *
EURM
+135m
59
194
122
+87m
208
Q3 2022
Q3 2023
9M
2022
9M
2023
918
Net cash
EURM
-226
Net cash
9M 2022
-164
EUR +478m yoy -276
252
-301
-20
-68
Free cash
Debt
Fx, others
Net cash
Non-op.
Net cash
flow pre-
factoring"
lease
repay
ment
9M 2023
dividend
effects
9M 2023
pre non-
payment
ops.
New orders
EURbn
+33% nom./+39% fx-adj.
EURm
Order backlog
27.8
+6% nom./+14% fx-adj.
2.6
52.8
56.1
5.6
20.9
4.3
1.1
8.6
19.6
19.4
8.2
16.5
28.8
31.1
11.5
9M 2022
9M 2023
9M 2022
9M 2023
Op. Net profit guidance
522
510-550
FY 2022
FY 2023
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