Slide 1: FY 2025 Results Presentation
FY 2025 Results Presentation © HOCHTIEF February 19, 2026 Juan Santamaría, CEO Christa Andresky, CFO Mike Pinkney, Head of Capital Markets Strategy Tobias Loskamp, Head of Investor Relations FY 2025 results presentation – February 19, 2026 1
Slide 2: HOCHTIEF Group – FY 2025 overview
HOCHTIEF Group – FY 2025 overview Outstanding op. net Strong and sustained Net debt stable yoy Accelerating growth Strong growth profit growth of 26% operating cash flow after significant net in new orders to EUR trajectory continuing yoy (+35% fx-adj.) to EUR of EUR 2.1bn; strategic M&A 52.6bn, up
Slide 3: HOCHTIEF Group – FY 2025 Key figures
HOCHTIEF Group – FY 2025 Key figures* FY 2024 FY 2025 Δ yoy (EUR million) Sales 33,301 38,237 15% Operational profit before tax / PBT 1,008 1,303 29% Operational PBT margin in % 3.0% 3.4% 40 bps Operational net profit 625 789 26% Operational EPS (in EUR) 8.31 10.49 26% Dividend per share for FY (in
Slide 4: HOCHTIEF Group – Key P&L figures
HOCHTIEF Group – Key P&L figures Sales by region FY 2025 8% Continued Significantly higher op. PBT (+29% yoy), Americas strong sales increasing Group margin growth of Op. NPAT of EUR 789m up 26% yoy (+35% 28% Asia Pacific 15% yoy, 21% fx-adj.) fx-adjusted 64% Europe Nom. NPAT of EUR 902m incl. net E
Slide 5: HOCHTIEF Group – Cash flow performance
HOCHTIEF Group – Cash flow performance Operating cash flow pre-fact. (EURm) + 248 2,071 Outstanding and sustained high level Net operating Net op. 1,823 of cash conversion with operating capex & leases cash flow of cash flow of EUR 2.1bn pre- increased in FY EUR 1.4bn, factoring, up EUR 248m yoy 202
Slide 6: HOCHTIEF Group – Net cash development yoy
HOCHTIEF Group – Net cash development yoy Net debt broadly stable despite Adjusting for capital allocation and S&P investment grade significant net strategic investments, consolidation effects net cash would show a credit rating confirmed Flatiron deconsolidation and attractive EUR 1.2bn increase yo
Slide 7: HOCHTIEF Group – New orders and order backlog
HOCHTIEF Group – New orders and order backlog New orders development* (EURbn) 1.2 1.2 1.3 Outstanding and New orders represent 60.0 52.6 1.2 accelerating growth in 1.3x work done Book to bill new orders to EUR Above 55% of new 50.0 0.7 38.4 41.8 LTM 52.6bn, up 32% fx-adj. orders from high growth 40.
Slide 8: Selected recent significant project announcements
HOCHTIEF Group – Selected recent significant project announcements Transport Infrastructure & AI, Digital & Tech Energy Infrastructure Sustainable Mobility Data Centers, Group, EUR 16.8bn (FY 2025) total data Rolls-Royce SMR program, HOCHTIEF (01/2026) Perth Airport, CPB Contractors, AUD 5bn (12/202
Slide 9: Turner – FY 2025 results in EURm
Turner – FY 2025 results in EURm Essentials Financials (EUR million) FY 2024 FY 2025 Δ yoy Outstanding 2025 performance with strong Q4 Sales 19,264 25,786 34% Very strong organic sales increase of 34% yoy driven by EBITDA 551 939 71% data centers and supported by solid double-digit growth in Operati
Slide 10: CIMIC – FY 2025 results in EURm
CIMIC – FY 2025 results in EURm Essentials Financials Sales of EUR 10.6bn stable on a comparable basis with solid (EUR million) FY 2024 FY 2025 Δ yoy increases in strategic growth markets and despite large Sales 10,213 10,637 4% transport infrastructure projects winding down EBITDA 1,198 1,279 7% Op
Slide 11: Engineering & Construction – FY 2025 results
Engineering & Construction – FY 2025 results Essentials Financials Sales of EUR 1.7bn increased by 9% yoy on a comparable FY 2024 FY 2025 Δ yoy basis. Nominal decrease due to impact of FlatironDragados (EUR million) merger, closed in January 2025 with the new JV equity Sales 3,629 1,676 -54% account
Slide 12: Abertis – FY 2025 results
Abertis – FY 2025 results Essentials Financials Average daily traffic (ADT) +2% yoy (EUR million) FY 2024 FY 2025 Δ yoy Revenues and EBITDA up 4% and 6% resp. on a Sales (100%) 6,072 6,149 1% comparable basis EBITDA (100%) 4,292 4,374 2% Net profit pre-PPA amounts to EUR 701m and includes EBITDA mar
Slide 13: Corporate Strategy
Corporate Strategy Megatrends Digitalization Demand for energy Demographics Deglobalization Defense Key elements of Strategy Group objectives Capture growth opportunities in strategic Focus on cash generation and maintaining verticals: AI, digital & tech, Energy Infra, a strong, de-risked balance sh
Slide 14: Capture growth opportunities in strategic growth verticals
Capture growth opportunities in strategic growth verticals Expanding presence in the value chain of rapidly expanding markets as a developer and investor AI, Digital & Tech Energy Transport BHE & Social Defense Critical Minerals & Infrastructure & Infrastructure Sustainable Mobility infrastructure N
Slide 15: Equity investments in strategic growth markets
HOCHTIEF equity investments in strategic growth markets • Total committed equity investments at December 2025 of cEUR 600m in strategic growth markets ©Vulcan Energy New sustainable Data centers Energy transition mobility Lithium HOCHTIEF is investing in data Strategy to establish a diversified HOCH
Slide 16: German Infrastructure and Defense plan opportunities
German Infrastructure and Defense plan opportunities German government EUR 500bn infrastructure investment plan over 12 years in addition to a big boost to defense investment, where all spending beyond 1% of GDP is excluded from budget deficit calculations • 2026 first year of full implementation •
Slide 17: HOCHTIEF Group – Capital allocation & Guidance
HOCHTIEF Group – Capital allocation & Guidance Capital allocation Organic growth opportunities Guidance 2026 Shareholder remuneration Growth in data centers and other advanced-tech, Operational net profit FY 2025 dividend proposal of EUR 6.60/share, +26% yoy, energy (nuclear), defense and critical m
Slide 18: Appendix: FY 2025
Appendix: FY 2025 © HOCHTIEF Frankfurt University of Applied Sciences, Frankfurt, Germany Timber Pioneer, Frankfurt/Main, Germany FY 2025 results presentation – February 19, 2026 18
Slide 19: HOCHTIEF Group – Overview
HOCHTIEF Group – Overview FY FY Δ FY FY FY Δ FY HOCHTIEF Group 2024 2025 in % HOCHTIEF Group 2024 2025 in % (EUR million) (EUR million) P&L-key figures P&L-key figures Sales 33,301 38,237 15% Operational net profit 625 789 26% Turner 19,264 25,786 34% Turner 414 684 65% CIMIC (operational) 10,213 10
Slide 20: HOCHTIEF Group – Statement of earnings
HOCHTIEF Group – Statement of earnings HOCHTIEF Group ∆% Sales: +15% yoy (+21% fx-adjusted) driven mainly by strong (EUR million) FY 2024 FY 2025 FY organic growth Sales 33,301 38,237 15% Materials & personnel costs: Change in inventories 16 121 Increase In line with sales development and also impac
Slide 21: HOCHTIEF Group – Statement of cash flows (statutory)
HOCHTIEF Group – Statement of cash flows (statutory) HOCHTIEF Group FY 2024 FY 2025 ∆ FY (EUR million) Profit before tax / PBT 1,004 1,410 406 Depreciation and amortization 594 670 76 Other adjustments to net profit 167 -25 -191 Changes in working capital (net current assets) 308 346 38 Interest pai
Slide 22: HOCHTIEF Group – Balance sheet (assets)
HOCHTIEF Group – Balance sheet (assets) HOCHTIEF Group Non-current assets FY 2024 FY 2025 Δ FY (EUR million) Intangible assets / property plant & Assets 24,655 24,420 -235 equipment / Investment property Increase of goodwill mainly due to Dornan / Decrease in Non-current assets 7,966 8,547 580 PPE d
Slide 23: HOCHTIEF Group – Balance sheet (liabilities and equity)
HOCHTIEF Group – Balance sheet (liabilities and equity) Shareholders‘ equity – HOCHTIEF Group FY 2024 FY 2025 Δ FY Movements in FY 2025 (EUR million) (EUR million) SHARE- Liabilities and shareholders’ equity 24,655 24,420 -235 Profit after taxes 1.019 HOLDERS’ Dividends -502 EQUITY Shareholders' equ
Slide 24: HOCHTIEF Group – Financing structure FY 2025
HOCHTIEF Group - Financing structure FY 2025 Net cash / Net debt calculation: • Strong liquidity position of EUR 7.1bn per end FY 2025 (cash, cash end FY 2024 end FY 2025 equivalents and marketable securities) period end (EUR m) • End of September 2025 HOCHTIEF placed a CHF 180m bond with a Cash and
Slide 25: Construction – Turner
Turner FY 2025 results presentation – February 19, 2026 © Jason Doiy © Dornan © Image courtesy of the Los Angeles Clippers © Turner © Image courtesy of the Los Construction Angeles Clippers 25
Slide 26: Turner - Segment overview
Turner - Segment overview Financials • High added-value advanced-tech building solutions (USD million) FY 2024 FY 2025 Δ yoy with 45 offices across the U.S. Sales 20,781 29,165 40% • Client-focused construction management delivery model EBITDA 594 1,062 79% Operational profit before tax / PBT 614 1,
Slide 27: CIMIC
CIMIC © UGL © Leighton Asia © misheye © UGL © CPB Contractors FY 2025 results presentation – February 19, 2026 27
Slide 28: CIMIC - Segment overview
CIMIC - Segment overview Financials FY 2024 FY 2025 Δ yoy • Largest Australasian player providing engineering-led (AUD million) Sales 16,758 18,635 11% integrated solutions and critical mineral-related EBITDA 1,965 2,241 14% services with 39,000 employees across the whole project Operational profit
Slide 29: CIMIC - Bolt-on acquisitions
CIMIC - Bolt-on acquisitions Part of HOCHTIEF’s capital allocation strategy is focused on carrying out bolt-on acquisitions to enhance and expand our engineering, digital and logistics services know-how and client-offering. Sedgman acquired Sedgman also acquired Thiess announced a share Thiess also
Slide 30: Engineering & Construction
FY 2025 results presentation – February 19, 2026 Engineering & Construction © HOCHTIEF © HOCHTIEF © HOCHTIEF Polska HOCHTIEF Datacenter © HOCHTIEF/Schroll © HOCHTIEF © Udo Görisch 30
Slide 31: Engineering & Construction - Segment overview
Engineering & Construction - Segment overview Financials FY 2024 FY 2025 Δ yoy • Leading civil engineering businesses in Europe (EUR million) (HOCHTIEF) and 38.2% stake in FlatironDragados, the Sales 3,629 1,676 -54% EBITDA 179 128 -28% 2nd largest civil engineering and construction player Operation
Slide 32: Abertis
Abertis FY 2025 results presentation – February 19, 2026 © Abertis © Abertis © Abertis © Abertis/viaschile © ajpmedia.com 32
Slide 33: Abertis – A-63 highway acquisition
Abertis – A-63 highway acquisition Abertis acquires a 51.22% stake in the A-63 highway, enhancing exposure in Europe and extending portfolio life • A-63 highway is a strategic motorway corridor between Spain Key investment highlights and northern Europe linked between Bordeaux and • High quality inf
Slide 34: Strategic framework for growth and value creation
Strategic framework for growth and value creation Consistent effort & resources applied in a specific strategic direction Engineering & Strategic Positioned to achieve Engineering, Construction Local and growth strong returns on Systems & Bolt-on services Global Client markets megatrend opportunitie
Slide 35: Accelerating Sustainability (ESG) drive
HOCHTIEF Group – Accelerating Sustainability (ESG) drive Positive target achievements of Group-wide working HOCHTIEF is member of the Dow Jones Sustainability World Index ambitious Sustainability Plan 2025 groups to align activities by S&P Global; receives “AAA” rating by MSCI; has been awarded goal
Slide 36: FX rates
FX rates End of period: Q1 H1 9M FY Mar 31st Mar 31st yoy Jun 30th Jun 30th yoy Sep 30th Sep 30th yoy Dec 31st Dec 31st yoy 2024 2025 2024 2025 2024 2025 2024 2025 EUR / USD 1.08 1.08 0% EUR / USD 1.07 1.18 10.1% EUR / USD 1.11 1.17 5% EUR / USD 1.04 1.17 13% USD / EUR 0.92 0.92 0% USD / EUR 0.93 0.
Slide 37: The HOCHTIEF Group
The HOCHTIEF Group • HOCHTIEF is a global provider of engineering-led, end-to-end, 2025 Sales by region (EUR 38.2bn) infrastructure solutions in North America, Australia and Europe with leading positions in rapidly expanding strategic growth verticals 3% 5% including the AI-Digital and Tech sector a
Slide 38: Leading positions in developed markets – FY 2025
HOCHTIEF, leading positions in developed markets – FY 2025 ©UdoGoerisch ©BigAcorn-Studios ©Abertis © UGL Engineering & Turner CIMIC Construction Abertis Turner is the largest US building Australia-based CIMIC Group is an Comprises HOCHTIEF’s European 20% equity investment in leading construction man
Slide 39: Disclaimer
Disclaimer This presentation and the report contain forward-looking statements. These statements reflect the current views, expectations and assumptions of the Executive Board of HOCHTIEF Aktiengesellschaft and are based on information currently available to the Executive Board. Such statements invo
Slide 40: Investor Relations contacts and calendar
Investor Relations contacts and calendar 29 April 2026 Annual General Meeting May 2026 First quarter results 2026 27 July 2026 Half-year results 2026 5 November 2026 Nine-months results 2026 For further information please contact: Investor Relations HOCHTIEF Aktiengesellschaft Alfredstr. 236 45133 E