Earnings release
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HOCHTIEF Aktiengesellschaft Sitz der Gesellschaft: Essen, Registergericht: Essen HRB 279, USt-IdNr. DE 1198 171 25, StNr. 5112/5710/0012, Vorsitzender des Aufsichtsrates: Pedro López Jiménez; Vorstand: Juan Santamaría Cases (Vorsitzender), Christa Andresky, Ángel Muriel Bernal, Martina Steffen CORPORATE COMMUNICATIONS Contact: Fiona Tyndall Alfredstraße 236 45133 Essen, Germany presse@hochtief.de Page 1 of 5 5/11/2026 Press Release HOCHTIEF 9M 2026 operational net profit up 40%; strong cash conversion; record order backlog of EUR 90bn 9M 2026 highlights: • Operational net profit increased 40% year on year to EUR 752 million, 42% higher on an fx-adjusted basis • Operating cash flow reached EUR 2.7 billion LTM pre-factoring, up EUR 686 million year on year • New orders increased 35% fx-adjusted to EUR 48.6 billion, with around 65% generated in strategic growth verticals • Record order backlog of EUR 90 billion, up EUR 20 billion or 29% year on year • 2026 operational net profit guidance of EUR 1,025 million to EUR 1,100 m illion reiterated, representing growth of 30% to 40% year on year H OCHTIEF continued its strong growth trajectory in the first nine months of 2026, with an acceleration in profits, cash flow and new orders. This was supported by increasing demand in the Group’s strategic growth verticals including AI, digital and technology, energy and nuclear, security and defense, and critical minerals. Operational net profit for the nine months to September 30 increased 40% year on year to EUR 752 million, or 42% on a foreign exchange (fx)-adjusted basis. The Group maintained its strong cash conversion, with operating cash flow reaching EUR 2.7 billion over the last 12 months (LTM) pre-factoring, an increase of EUR 686 million year on year, including an acceleration in the third quarter. Net operating cash flow was EUR 2.0 billion LTM pre-factoring, up EUR 637 million year on year. HOCHTIEF's net cash improved by EUR 1.0 billion year on year, driven by the strong net operating cash flow performance. During the period, S&P upgraded HOCHTIEF's investment-grade credit rating to BBB with a stable outlook. HOCHTIEF Chief Executive Officer Juan Santamaría said: “HOCHTIEF has delivered another strong period of profitable growth. Earnings are up significantly, cash generation has accelerated and our record order backlog gives us excellent visibility for the future.
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HOCHTIEF Aktiengesellschaft Sitz der Gesellschaft: Essen, Registergericht: Essen HRB 279, USt-IdNr. DE 1198 171 25, StNr. 5112/5710/0012, Vorsitzender des Aufsichtsrates: Pedro López Jiménez; Vorstand: Juan Santamaría Cases (Vorsitzender), Christa Andresky, Ángel Muriel Bernal, Martina Steffen “What is particularly important is the quality of that growth. We are winning more work in the markets where we see the strongest structural demand, while maintaining a disciplined approach to risk. Our global capabilities in engineering, supply chain and project delivery are increasingly allowing us to support clients across the infrastructure lifecycle, strengthening our competitive position and creating more diversified opportunities for further growth.” New orders increased to EUR 48.6 billion, up 33% year on year and 35% on an fx- adjusted basis. New orders represented 1.4 times work done, with approximately 65% generated in strategic growth verticals. The strong order momentum increased HOCHTIEF's order backlog to a record EUR 90 billion, EUR 20 billion or 29% higher than a year earlier. The backlog provides around 24 months of visibility. The AI, digital and technology backlog increased more than 90% year on year, and other strategic growth sectors (defense, critical minerals and energy, including nuclear) collectively grew at 65%. Growth was particularly strong at Turner. Sales increased 24% on an fx-adjusted basis, while operational profit before tax increased 47% fx-adjusted to EUR 891 million. The Group continues to benefit from significant demand for advanced infrastructure, with recent announcements further strengthening HOCHTIEF’s position in its strategic growth verticals. These include awards for data centers in Asia, US and Europe, the Natural History Museum in Berlin, Sellafield nuclear works in the UK, engineering and design for the Barroso Lithium Project in Portugal, transmission network expansion in Australia, and military ground-testing facilities in the US. Outlook HOCHTIEF's 2026 operational net profit guidance is EUR 1,025 million to EUR 1,100 million, representing an increase of 30% to 40% year on year. Mr Santamaría said: “We are translating opportunities from the global infrastructure investment super-cycle into profitable growth by bringing together our capabilities across the Group, maintaining disciplined project selection and execution, and converting earnings into cash. “The growth in our order book, the quality of our backlog and our strong cash generation give us confidence in the outlook and provide a solid platform for continued value creation.”
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HOCHTIEF Aktiengesellschaft Sitz der Gesellschaft: Essen, Registergericht: Essen HRB 279, USt-IdNr. DE 1198 171 25, StNr. 5112/5710/0012, Vorsitzender des Aufsichtsrates: Pedro López Jiménez; Vorstand: Juan Santamaría Cases (Vorsitzender), Christa Andresky, Ángel Muriel Bernal, Martina Steffen HOCHTIEF Group: Key Figures 9-month figures (quarterly figures can be found on the next page) (EUR million) 9M 2025 9M 2026 9M Change year on year FY 2025 Sales 28,109.3 32,051.1 14.0% 38,236.5 Operational profit before tax/PBT 899.6 1,174.7 30.6% 1,303.3 Operational PBT margin (%) 3.2 3.7 50 bps 3.4 Operational net profit 537.5 751.6 39.8% 789.3 Operational earnings per share (EUR) 7.14 9.99 39.9% 10.49 EBITDA 1,572.6 1,869.5 18.9% 2,214.7 EBIT 1,074.1 1,392.5 29.6% 1,544.3 Nominal profit before tax/PBT 1,011.1 1,146.2 13.4% 1,409.8 Nominal net profit 655.6 727.7 11.0% 902.3 Nominal earnings per share (EUR) 8.71 9.67 11.0% 11.99 Operating cash flow (OCF) LTM pre-factoring 2,006.3 2,692.6 686.3 2,070.9 Net operating cash flow LTM pre-factoring 1,344.9 1,981.7 636.8 1,405.8 Operating cash flow (OCF) pre-factoring 538.0 1,159.7 621.7 2,070.9 Net operating capital expenditure and leases (488.7) (534.5) -45.8 (665.1) Net operating cash flow pre-factoring 49.3 625.2 575.9 1,405.8 X Net cash/net debt (1,823.8) (864.4) 959.4 (97.3) New orders 36,631.4 48,608.2 32.7% 52,579.2 Order backlog 69,565.3 89,747.3 29.0% 72,465.2 Employees (end of period) 63,194 64,415 1.9% 61,519 Note: Operational profits are adjusted for non-operational effects
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HOCHTIEF Aktiengesellschaft Sitz der Gesellschaft: Essen, Registergericht: Essen HRB 279, USt-IdNr. DE 1198 171 25, StNr. 5112/5710/0012, Vorsitzender des Aufsichtsrates: Pedro López Jiménez; Vorstand: Juan Santamaría Cases (Vorsitzender), Christa Andresky, Ángel Muriel Bernal, Martina Steffen Quarterly figures (EUR million) Q3 2025 Q3 2026 Q3 Change year on year FY 2025 Sales 9,739.6 11,914.6 22.3% 38,236.5 Operational profit before tax/PBT 311.9 415.7 33.3% 1,303.3 Operational net profit 182.7 271.9 48.8% 789.3 EBITDA 548.1 651.2 18.8% 2,214.7 EBIT 383.7 489.8 27.7% 1,544.3 Nominal profit before tax/PBT 301.5 401.1 33.0% 1,409.8 Nominal net profit 174.6 260.1 49.0% 902.3 Operating cash flow (OCF) pre-factoring 352.0 677.2 325.2 2,070.9 Net operating capital expenditure and leases (157.4) (161.4) -4.0 (665.1) Net operating cash flow pre-factoring 194.6 515.8 321.2 1,405.8 New orders 10,522.2 17,108.3 62.6% 52,579.2 Order backlog 69,565.3 89,747.3 29.0% 72,465.2 HOCHTIEF is an engineering-led global infrastructure solutions provider with leading positions in North America, Australia and Europe and a strong presence in the rapidly expanding strategic growth markets of data centers, energy and sustainable infrastructure markets. With around 62,000 employees and a sales volume of EUR 38.2 billion in 2025, HOCHTIEF is the leading construction management and green building company in the U.S. (through Turner), the largest contractor in the Australian infrastructure services market (CIMIC), a key player in U.S. transportation infrastructure (FlatironDragados) and a renowned civil engineering and building construction company in Europe. The Group’s PPP and infrastructure development activity is complemented by its 20% stake in the leading international toll road concessions operator Abertis. HOCHTIEF’s strong competitive position is underpinned by the Group’s engineering know-how, innovative digital systems and supply chain & logistics solutions. HOCHTIEF is listed in the DAX and is also included in leading sustainability indices such as the Dow Jones Best-in-Class World Index, committed to delivering on its ESG agenda. Further information is available at www.hochtief.com