HOCHTIEF: Significant Rise in New Orders and Work Done in 2000

Positive Work Done and Orders Situation Continues in First Quarter 2001



Apr 24, 2001, 01:00 ET from HOCHTIEF

    ESSEN, Germany, April 24 /PRNewswire/ -- In the 2000 business year,
 HOCHTIEF again took a top place in the international construction market.  The
 company had a work-done volume of EUR 13.0 billion, a rise of 54.6 percent on
 1999.  The intake of new orders, at EUR 14.1 billion, reached a historic peak.
 Nevertheless, the company's earnings after taxes declined, amounting to
 EUR 127 million after EUR 205 million the year before.  The downturn was due
 entirely to the difficult situation in the domestic building construction
 market.
     Business in this area was burdened massively by the lack of any readiness
 to invest in housing or public-sector construction and the still existing
 surplus capacities in the industry.  On the other hand, HOCHTIEF's divisions
 Airport, Civil and Development developed positively, even in Germany.  Their
 operating earnings rose by 20 percent.
     HOCHTIEF now generates more than three-fourths of its work-done volume
 abroad.  Of this, the biggest proportion -- EUR 6.7 billion -- is accounted
 for by the American construction market.  In 2000, the results of The Turner
 Corporation, Dallas, which HOCHTIEF acquired in 1999, were fully consolidated
 for the first time.  At the beginning of this year, HOCHTIEF increased its
 stake in the leading Australian construction and services group Leighton
 Holdings Limited to just over 50 percent.  "The company will play an
 increasing role beyond the borders of Australia in implementing our strategy
 in the markets of the Far East," says Dr. Hans-Peter Keitel, HOCHTIEF CEO.  At
 the General Shareholders' Meeting, HOCHTIEF will propose raising the dividend
 for fiscal 2000 to EUR 0.85 per no-par-value share.  This compares with last
 year's dividend of EUR 0.75, to which an anniversary bonus of EUR 0.10 was
 added.  In all, EUR 59.5 million is to be distributed in dividends.
     In the first three months of the current business year, the work-done and
 orders situation continued to develop positively.  Work done rose by
 ten percent, the intake of new orders by 19.2 and the order backlog by
 16.3 percent. "We view the business year 2001 with optimism," says Keitel.
     In Germany, HOCHTIEF is continuing its corporate restructuring:  subject
 to approval by the General Shareholders' Meeting, the Building and Civil
 divisions are to be devolved into a separate corporate unit in the form of a
 stock corporation, and thus upgraded to a legally independent company.
 HOCHTIEF Aktiengesellschaft will become a strategic management holding.  The
 aim is to unify organizational structures within the HOCHTIEF Group and also
 to make a clear-cut distinction between strategic and operational
 responsibilities.  The new unit will increasingly develop special products
 (for example hotels, sports facilities and shopping centers) and concentrate
 on regions promising profitable contracts.
      In North America, HOCHTIEF is represented by The Turner Corporation,
 Dallas, Texas, Kitchell Corporation, Phoenix, Arizona, and Armbro/BFC,
 Toronto.  In 2000, Turner's work-done volume reached the record level of just
 under USD 5.8bn.  HOCHTIEF acquired this company in 1999.  HOCHTIEF has had a
 stake in Kitchell since 1993, this is now 35.3 percent.  Since early in 2000,
 HOCHTIEF has held 48.75 percent of Armbro/BFC.
     NB:  The speeches at the Business Results Press Conference will be
 transmitted live via the Internet from 10 a.m.  In addition, you will find the
 written versions of the speeches on our homepage:  www.hochtief.de .  Should
 you prefer to have these in fax form, please call us:  Tel. +49-201-824-2494.
 
 
     HOCHTIEF Group                     2000       1999           Change
                                       in EUR     in EUR    absolute     in %
                                                             in EUR
     New orders *)                    14.07 bn    8.00 bn     6.07 bn     76.0
                    - domestic         2.65 bn    3.35 bn    -0.70 bn    -20.9
                    - international   11.42 bn    4.65 bn     6.77 bn    145.7
     Work done **)                    13.03 bn    8.42 bn     4.61 bn     54.6
                    - domestic         3.14 bn    3.65 bn    -0.51 bn    -13.9
                    - international    9.88 bn    4.77 bn     5.11 bn    107.1
     Order backlog ***)               12.29 bn   10.88 bn     1.41 bn     12.9
                    - domestic         2.49 bn    2.99 bn    -0.50 bn    -16.7
                    - international    9.80 bn    7.89 bn     1.91 bn     24.1
     Employees (average for year)       41,004     37,345       3,659      9.8
                    - domestic          13,359     13,562        -203     -1.5
                    - international     27,645     23,783       3,862     16.2
     Number of apprentices                 720        757         -37     -4.9
     Earnings after taxes                127 m      205 m       -78 m    -38.0
     Cash flow                           220 m      303 m       -83 m    -27.4
     Sales revenues ****)              9,586 m    5,085 m     4,501 m     88.5
     Equity capital                    1,902 m    2,034 m      -132 m     -6.5
     Balance-sheet total               6,569 m    5,983 m       586 m      9.8
     Investment - fixed assets           145 m       89 m        56 m     62.9
     Investment - financial assets       348 m      366 m       -18 m     -4.9
 
     *)    Without inclusion of Turner order backlog as of October 1, 1999 of
           EUR 4.71 bn; Turner proportion in 2000: EUR 6.28 bn.
 
     **)   Turner consolidated in 1999 only in Q4 (EUR 1.43 bn), in 2000 with
           EUR 6.0 bn.
 
     ***)  Of which in 2000 North America EUR 5.37 bn.
 
     ****) Turner consolidated in 1999 only in Q4 (EUR 1.21 bn), in 2000 with
           EUR 6.23 bn.
 
 
     January to March 2001
 
     HOCHTIEF Group                 January -   January -         Change
                                      March      March
                                      2001        2000      Absolute     in %
                                     in EUR      in EUR      in EUR
     New orders                       3.59 bn     3.01 bn     0.58 bn     19.2
                 - domestic           0.52 bn     0.70 bn    -0.18 bn    -26.2
                 - international      3.08 bn     2.31 bn     0.77 bn     32.9
     Work done                        3.03 bn     2.75 bn     0.28 bn     10.0
                 - domestic           0.63 bn     0.67 bn    -0.04 bn     -7.0
                 - international      2.40 bn     2.08 bn     0.32 bn     15.6
     Order backlog                   12.73 bn    10.94 bn     1.79 bn     16.3
                 - domestic           2.18 bn     2.81 bn    -0.63 bn    -22.3
                 - international     10.54 bn     8.13 bn     2.41 bn     29.7
 
 

SOURCE HOCHTIEF
    ESSEN, Germany, April 24 /PRNewswire/ -- In the 2000 business year,
 HOCHTIEF again took a top place in the international construction market.  The
 company had a work-done volume of EUR 13.0 billion, a rise of 54.6 percent on
 1999.  The intake of new orders, at EUR 14.1 billion, reached a historic peak.
 Nevertheless, the company's earnings after taxes declined, amounting to
 EUR 127 million after EUR 205 million the year before.  The downturn was due
 entirely to the difficult situation in the domestic building construction
 market.
     Business in this area was burdened massively by the lack of any readiness
 to invest in housing or public-sector construction and the still existing
 surplus capacities in the industry.  On the other hand, HOCHTIEF's divisions
 Airport, Civil and Development developed positively, even in Germany.  Their
 operating earnings rose by 20 percent.
     HOCHTIEF now generates more than three-fourths of its work-done volume
 abroad.  Of this, the biggest proportion -- EUR 6.7 billion -- is accounted
 for by the American construction market.  In 2000, the results of The Turner
 Corporation, Dallas, which HOCHTIEF acquired in 1999, were fully consolidated
 for the first time.  At the beginning of this year, HOCHTIEF increased its
 stake in the leading Australian construction and services group Leighton
 Holdings Limited to just over 50 percent.  "The company will play an
 increasing role beyond the borders of Australia in implementing our strategy
 in the markets of the Far East," says Dr. Hans-Peter Keitel, HOCHTIEF CEO.  At
 the General Shareholders' Meeting, HOCHTIEF will propose raising the dividend
 for fiscal 2000 to EUR 0.85 per no-par-value share.  This compares with last
 year's dividend of EUR 0.75, to which an anniversary bonus of EUR 0.10 was
 added.  In all, EUR 59.5 million is to be distributed in dividends.
     In the first three months of the current business year, the work-done and
 orders situation continued to develop positively.  Work done rose by
 ten percent, the intake of new orders by 19.2 and the order backlog by
 16.3 percent. "We view the business year 2001 with optimism," says Keitel.
     In Germany, HOCHTIEF is continuing its corporate restructuring:  subject
 to approval by the General Shareholders' Meeting, the Building and Civil
 divisions are to be devolved into a separate corporate unit in the form of a
 stock corporation, and thus upgraded to a legally independent company.
 HOCHTIEF Aktiengesellschaft will become a strategic management holding.  The
 aim is to unify organizational structures within the HOCHTIEF Group and also
 to make a clear-cut distinction between strategic and operational
 responsibilities.  The new unit will increasingly develop special products
 (for example hotels, sports facilities and shopping centers) and concentrate
 on regions promising profitable contracts.
      In North America, HOCHTIEF is represented by The Turner Corporation,
 Dallas, Texas, Kitchell Corporation, Phoenix, Arizona, and Armbro/BFC,
 Toronto.  In 2000, Turner's work-done volume reached the record level of just
 under USD 5.8bn.  HOCHTIEF acquired this company in 1999.  HOCHTIEF has had a
 stake in Kitchell since 1993, this is now 35.3 percent.  Since early in 2000,
 HOCHTIEF has held 48.75 percent of Armbro/BFC.
     NB:  The speeches at the Business Results Press Conference will be
 transmitted live via the Internet from 10 a.m.  In addition, you will find the
 written versions of the speeches on our homepage:  www.hochtief.de .  Should
 you prefer to have these in fax form, please call us:  Tel. +49-201-824-2494.
 
 
     HOCHTIEF Group                     2000       1999           Change
                                       in EUR     in EUR    absolute     in %
                                                             in EUR
     New orders *)                    14.07 bn    8.00 bn     6.07 bn     76.0
                    - domestic         2.65 bn    3.35 bn    -0.70 bn    -20.9
                    - international   11.42 bn    4.65 bn     6.77 bn    145.7
     Work done **)                    13.03 bn    8.42 bn     4.61 bn     54.6
                    - domestic         3.14 bn    3.65 bn    -0.51 bn    -13.9
                    - international    9.88 bn    4.77 bn     5.11 bn    107.1
     Order backlog ***)               12.29 bn   10.88 bn     1.41 bn     12.9
                    - domestic         2.49 bn    2.99 bn    -0.50 bn    -16.7
                    - international    9.80 bn    7.89 bn     1.91 bn     24.1
     Employees (average for year)       41,004     37,345       3,659      9.8
                    - domestic          13,359     13,562        -203     -1.5
                    - international     27,645     23,783       3,862     16.2
     Number of apprentices                 720        757         -37     -4.9
     Earnings after taxes                127 m      205 m       -78 m    -38.0
     Cash flow                           220 m      303 m       -83 m    -27.4
     Sales revenues ****)              9,586 m    5,085 m     4,501 m     88.5
     Equity capital                    1,902 m    2,034 m      -132 m     -6.5
     Balance-sheet total               6,569 m    5,983 m       586 m      9.8
     Investment - fixed assets           145 m       89 m        56 m     62.9
     Investment - financial assets       348 m      366 m       -18 m     -4.9
 
     *)    Without inclusion of Turner order backlog as of October 1, 1999 of
           EUR 4.71 bn; Turner proportion in 2000: EUR 6.28 bn.
 
     **)   Turner consolidated in 1999 only in Q4 (EUR 1.43 bn), in 2000 with
           EUR 6.0 bn.
 
     ***)  Of which in 2000 North America EUR 5.37 bn.
 
     ****) Turner consolidated in 1999 only in Q4 (EUR 1.21 bn), in 2000 with
           EUR 6.23 bn.
 
 
     January to March 2001
 
     HOCHTIEF Group                 January -   January -         Change
                                      March      March
                                      2001        2000      Absolute     in %
                                     in EUR      in EUR      in EUR
     New orders                       3.59 bn     3.01 bn     0.58 bn     19.2
                 - domestic           0.52 bn     0.70 bn    -0.18 bn    -26.2
                 - international      3.08 bn     2.31 bn     0.77 bn     32.9
     Work done                        3.03 bn     2.75 bn     0.28 bn     10.0
                 - domestic           0.63 bn     0.67 bn    -0.04 bn     -7.0
                 - international      2.40 bn     2.08 bn     0.32 bn     15.6
     Order backlog                   12.73 bn    10.94 bn     1.79 bn     16.3
                 - domestic           2.18 bn     2.81 bn    -0.63 bn    -22.3
                 - international     10.54 bn     8.13 bn     2.41 bn     29.7
 
 SOURCE  HOCHTIEF