Hochtief AG (HOCFF.PK), a prominent German construction company, announced on Thursday that its nominal net profit for the third quarter surged by 26.6%, reaching 143 million euros compared to 119 million euros in the same period last year.
The operational net profit also saw an increase, climbing to 149 million euros, which represents a 17.8% rise from last year’s 133 million euros.
Nominal profit before tax experienced a 10% growth from the previous year, amounting to 225 million euros.
In contrast, EBITDA, a crucial indicator of earnings, declined by 6.1%, totaling 478 million euros this year.
Quarterly group sales rose by 8.2%, reaching 8.93 billion euros as opposed to 7.35 billion euros in the previous year.
New orders also reflected a positive trend, increasing by 9.1% year-on-year to 10.76 billion euros. The order backlog at the end of September stood at 66 billion euros, which is an 18% increase compared to the prior year.
Looking forward to fiscal 2024, Hochtief anticipates an operational net profit in the range of 560 million euros to 610 million euros, marking an expected increase of up to 10% year-on-year.
