Hochtief Aktiengesellschaft · XETR:HOT

Hochtief Aktiengesellschaft — Q1 2002 Earnings Presentation

17 slides from Hochtief Aktiengesellschaft's earnings presentation, May 22, 2002

  1. Slide 1: First quarter 2002 results presentation

    First quarter 2002 results presentation 22 May 2002

  2. Slide 2: New corporate structure commencing 2002

    New corporate structure commencing 2002 2

  3. Slide 3: Promising start in the first quarter

    Promising start in the first quarter • New orders up 20.8 percent • Order backlog up 14.5 percent • Sales top EUR 3 billion • Strong increase in Group operating earnings and net income First quarter gives optimistic outlook for fiscal year 2002 3

  4. Slide 4: Positive results across the Group

    Positive results across the Group (EUR m) Q1 2001 Q1 2002 Change % • New orders increase mainly due to strong business at Turner (+ EUR New Orders 3,588 4,334 +21 611m) and Leighton (+ EUR 305m) Work done 3,026 3,119 +3 • Growth in sales for all divisions Sales 2,738 3,028 +11 except Construction Op

  5. Slide 5: New orders and work done by region

    New orders and work done by region (EUR m) Q1 2001* (EUR 3,588 m) Q1 2002 (EUR 4,334 m) New orders 513 494 14% 11% 86% 89% 3,840 3,075 Q1 2001* (EUR 3,026 m) Q1 2002 (EUR 3,119 m) Work done 418 624 21% 13% 79% 87% 2,402 2,701 domestic * figures adjusted to new group structure international • Strong

  6. Slide 6: Sales by division

    Sales by division (EUR m) Q1 2001* (EUR 2,738 m) Q1 2002 (EUR 3,028 m) Development Development 53 (2%) Others and Airport International Airport 69 (2%) Others and International consolidation 0.2 (<1%) consolidtion 0.1 (<1%) 84 (3%) 57 (2%) 5.9 (<1%) 21.8 (1%) Construction Asia Pacific Construction A

  7. Slide 7: CAPEX by division

    CAPEX by division (EUR m) Q1 2001* (EUR 99.1 m) Q1 2002 (EUR 113.7 m) Others and consolidation Construction Others and Construction Development Development 3.2 (3%) 13.9 (14%) consolidation 5.6 (5%) 1.9 (2%) 28.6 (29%) Americas 1.2 (1%) Americas 8.5 (9%) Airport 5.3 (5%) 31.9 (28%) Airport 1.4 (1%)

  8. Slide 8: Construction: Major improvements in Q1 2002

    HOCHTIEF Construction: Major improvements in Q1 2002 (EUR m) Q1 2001 Q1 2002 Change% • Work done and sales down as planned New Orders 429 510 +19 • Restructuring showing first results – cut workforce Work done 616 409 -34 – scale down capacity Sales 471 326 -31 – losses 46 percent down compared to l

  9. Slide 9: Americas: Excellent start in Q1 2002

    HOCHTIEF Americas: Excellent start in Q1 2002 (EUR m) Q1 2001 Q1 2002 Change% • Division now incorporates U.S., Canadian, Brazilian, and Argentinean businesses New Orders 2,287 2,919 +28 • Healthy new orders being placed within all Work done 1,706 1,847 +8 U.S. American operations Sales 1,563 1,722

  10. Slide 10: Asia Pacific: Growth region continued high earnings

    HOCHTIEF Asia Pacifc: Growth region continued high earnings (EUR m) Q1 2001 Q1 2002 Change% • New orders, strong increase – Leighton Asia (EUR 140m) New Orders 148 454 +206 – John Holland Group railtrack extension Work done 277 388 +40 (EUR 90m) Sales 589 805 +37 • Operating earnings more than doubl

  11. Slide 11: International: Organizational changes

    HOCHTIEF International: Organizational changes (EUR m) Q1 2001 Q1 2002 Change% • New orders down because of weak New orders 512 294 -43 construction business in Poland • Operating earnings influenced by negative Work done 343 383 +12 results of Ballast Nedam in 2001 of EUR 25m Sales 57 84 +47 (HOCHT

  12. Slide 12: Airport: Solid platform for future growth

    HOCHTIEF Airport: Solid platform for future growth (EUR m) Q1 2001 Q1 2002 Change% • Athens International Airport already a success story New orders 6 2 -67 • “D-Check” cost optimization program at Work done 6 2 -67 Düsseldorf Airport Sales 0.1 0.2 +100 • HOCHTIEF Airport increases stake to 40 perce

  13. Slide 13: Development: Upward trend continues

    HOCHTIEF Development: Upward trend continues (EUR m) Q1 2001 Q1 2002 Change% • Growth continues despite weaker German New orders 206 156 -24 market trends Work done 78 91 +17 • At present 37 projects in Germany, Prague and Warsaw (EUR 2bn investment volume) Sales 53 69 +30 • Division makes significa

  14. Slide 14: Consolidated balance sheet

    Consolidated balance sheet • HOCHTIEF still has a Assets Liabilities Q1 2001 Q1 2002 Q1 2001 Q1 2002 healthy cash and cash equivalents position Shareholders‘ equity and • With 29 percent - we Fixed Assets 2.258 2.101 2.276 minority have a consistently 2.494 (29%) (29%) interests (30%) (35%) solid eq

  15. Slide 15: Cash flow analysis

    Cash flow analysis (EUR m) Q1 2001 Q1 2002 • Cash flow increase driven by Cash flow 14 123 – Monachia (EUR 57m) Net cash used in/provided by operating activities -134 -3 – Leighton (EUR 69m) Net cash used in investing activities 38 -3 • Financing activities Net cash provided by financing activities

  16. Slide 16: Expectations for 2002 - looking ahead in confidence

    Expectations for 2002 - looking ahead in confidence • Given early stage of the year we are expecting – overall results to show improvements on last year – further improvements in work done • Construction losses will be significantly down on last year, break- even targeted for 2003 • We are excellent

  17. Slide 17: For further information, please contact

    For further information, please contact: HOCHTIEF Aktiengesellschaft Investor Relations Opernplatz 2 45128 Essen Germany Tel.: +49 201 824-1833 Fax: +49 201 824-2750 [email protected] 17

HOCHTIEF Aktiengesellschaft — Q1 2002 Earnings Presentation on 6ix