Hochtief AG said earnings and sales in the first quarter were up, thanks to the Asia-Pacific plant and Albertis’ toll business.
The German construction company announced that operating net profit stood at 118.2 million euros in the quarter, compared to 99.2 million euros a year ago.
Sales for the period rose 8.1% to 5.33 billion euros, particularly strong in Asia-Pacific and the US, while orders rose 10.1% to 6.51 billion euros.
Abertis’s contribution to profitability increased by 8 million euros to 5 million euros, with the volume of traffic in the first quarter being higher than the corresponding period of 2019.
Hochtief, which is owned by Spain’s Actividades de Construccion y Servicios SA, has confirmed estimates for the full year and expects operating net profit of € 475-520 million, up 5% -15% year-on-year.
Source: Capital
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