Hochtief’s operating profit rose by 25 percent to €160m in he first half of 2016, according to its latest financial press release. Nominal net profit went up by 30 percent to €140m. Operational profits before tax increased by 4 percent to €328m. The group’s operational PBT margin rose by 60 basis points to 3.5 percent, as a result of tight cost control management, financial cost reduction, improved project bidding and risk management. All three divisions—Americas, Asia Pacific, and Europe—contributed to this increase. Hochtief ended the half year with a net cash position of €113m, an improvement of €88m on the first quarter. For 2016, Hochtief expects operational net profit of between €300m and €360m, representing an increase of approximately 15 percent to 35 percent year on year.
