HOCHTIEF Aktiengesellschaft · XETR:HOT
HOCHTIEF Aktiengesellschaft — 9M 2026 Earnings Presentation
38 slides from HOCHTIEF Aktiengesellschaft's earnings presentation, Nov 5, 2026
Slide 1: 9M 2026 Results Presentation
9M 2026 Results Presentation November 5, 2026 Juan Santamaría, CEO Christa Andresky, CFO Mike Pinkney, Head of Capital Markets Strategy Tobias Loskamp, Head of Investor Relations 9M 2026 results presentation – November 5, 2026 1
Slide 2: HOCHTIEF Group – 9M 2026 overview
HOCHTIEF Group – 9M 2026 overview Strong op. net profit Outstanding Net cash position Accelerating growth Reiterating recently growth of 40% yoy operating cash flow showing a strong in new orders to raised op. net profit (+42% fx-adj.) to of EUR 2.7bn LTM improvement yoy of EUR 48.6bn, up 35% guidan
Slide 3: HOCHTIEF Group – 9M 2026 Key figures
HOCHTIEF Group – 9M 2026 Key figures* 9M 2025 9M 2026 Δ yoy FY 2025 (EUR million) Sales 28,109 32,051 14% 38,237 Operational profit before tax / PBT 900 1,175 31% 1,303 Operational PBT margin in % 3.2% 3.7% 50 bps 3.4% Operational net profit 538 752 40% 789 Operational EPS (in EUR) 7.14 9.99 40% 10.
Slide 4: Key P&L figures
HOCHTIEF Group – Key P&L figures Sales by region 9M 2026 6% Americas Solid sales growth Significantly higher op. PBT accelerating to (+31% yoy) with increasing Group 26% Asia Pacific 14% yoy, (H1+10%) margin up 50bp to 3.7% Op. net profit of EUR 752m up Europe 68% 40% yoy (+42% fx-adj.) Nominal net
Slide 5: Cash flow performance
HOCHTIEF Group – Cash flow performance Operating cash flow pre-factoring (EURm) + 686 2,693 Outstanding level of cash Net operating Net operating 2,006 conversion with operating cash capex & leases cash flow of flow of EUR 2.7bn LTM pre- slightly increased EUR 2.0bn LTM, factoring, up EUR 686m yoy i
Slide 6: Net cash development yoy
HOCHTIEF Group – Net cash development yoy Net cash shows strong Adjusting for capital allocation, S&P investment grade credit improvement of 1.0bn yoy to net cash would show a rating upgraded to BBB, EUR -864m after attractive shareholder EUR 2.0bn increase yoy to a net stable outlook, in July 2026
Slide 7: New orders and order backlog
HOCHTIEF Group – New orders and order backlog New orders development (EURbn) 1.4 1.3 1.4 1.2 48.6 50.0 1.2 to bill Accelerating growth in new New orders represent Book orders to EUR 48.6bn in 9M 1.4x work done in 9M 2026. 40.0 36.6 1 32.1 2026, up +35% yoy fx-adj.; 30.0 0.8 Strong growth at Turner A
Slide 8: Selected recent significant project announcements
HOCHTIEF Group – Selected recent significant project announcements AI, Digital & Tech Energy Infrastructure Transport & Sustainable Infrastructure Data Centers, Group, EUR 26.6bn, total data center Sellafield nuclear site works II, HOCHTIEF, Second Kwinana Freeway Upgrade, CPB Contractors, orders ac
Slide 9: Turner – 9M 2026 results in EURm
Turner – 9M 2026 results in EURm Essentials Financials Δ yoy • High level of sales growth maintained with a 24% fx-adj. (EUR million) 9M 2025 9M 2026 Δ yoy (+26% Q3) increase yoy driven mainly by data centers with fx-adj. solid trends in airports, defense and pharma Sales 18,759 22,419 20% 24% EBITD
Slide 10: CIMIC – 9M 2026 results in EURm
CIMIC – 9M 2026 results in EURm* Essentials Financials • Sales of EUR 8.2bn, +9% yoy, with rising contributions from 9M 2025 9M 2026 Δ yoy strategic growth markets, particularly data centers, energy and (EUR million) comparable comparable defense Sales 7,504 8,208 9% EBITDA 906 944 4% • Operational
Slide 11: Engineering & Construction – 9M 2026 results
Engineering & Construction – 9M 2026 results Essentials Financials • Sales growth accelerating to EUR 1.3bn +7% yoy, (Q3 9M 2025 9M 2026 Δ yoy (EUR million) +20%) driven by ramp up of larger projects in Q3 Sales 1,233 1,321 7% • Very strong growth in operational PBT of 35% yoy to EUR EBITDA 79 109 3
Slide 12: Abertis – 9M 2026 results
Abertis – 9M 2026 results Essentials Financials (EUR million) 9M 2025 9M 2026 Δ yoy • Revenues and EBITDA up 4% and 5% respectively with tariffs up 3.4% Sales (100%) 4,611 4,800 4% • Net profit pre-PPA amounts to EUR 554m EBITDA (100%) 3,246 3,416 5% EBITDA margin in % 70.4% 71.2% 80 bps • Abertis o
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 September 2026 of over EUR 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
Slide 16: 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 of EUR 6.60/share, +26% yoy approved at energy/nuclear, defense and critical m
Slide 17: Appendix: 9M 2026
Appendix: 9M 2026 © HOCHTIEF Frankfurt University of Applied Sciences, Frankfurt, Germany Timber Pioneer, Frankfurt/Main, Germany 9M 2026 results presentation – November 5, 2026 17
Slide 18: HOCHTIEF Group – Overview
HOCHTIEF Group – Overview 9M 9M Δ 9M FY 9M 9M Δ 9M FY HOCHTIEF Group 2025 2026 in % 2025 HOCHTIEF Group 2025 2026 in % 2025 (EUR million) (EUR million) P&L-key figures P&L-key figures Sales 28,109.3 32,051.1 14.0% 38,236.5 Operational net profit 537.5 751.6 39.8% 789.3 Turner 18,759.3 22,418.5 19.5%
Slide 19: Statement of earnings
HOCHTIEF Group – Statement of earnings HOCHTIEF Group ∆% Sales: +14% yoy (+15% fx-adjusted) driven by organic (EUR million) 9M 2025 9M 2026 9M growth across all divisions Sales 28,109.3 32,051.1 14.0% Materials and personnel costs: Change in inventories 95.9 62.7 Increase in line with sales developm
Slide 20: Statement of cash flows (statutory)
HOCHTIEF Group – Statement of cash flows (statutory) HOCHTIEF Group 9M 2025 9M 2026 ∆ 9M (EUR million) Profit before tax / PBT 1,011.1 1,146.2 135.1 Depreciation and amortization 498.5 477.0 -21.5 Other adjustments to net profit 2.7 74.8 72.1 Changes in working capital (net current assets) -845.5 -3
Slide 21: Balance sheet (assets)
HOCHTIEF Group – Balance sheet (assets) HOCHTIEF Group Non-current assets (EUR million) FY 2025 9M 2026 Δ FY Intangible assets / property, plant & Assets 24,419.5 27,399.7 2,980.2 equipment / Investment property Non-current assets 8,546.7 9,174.0 627.3 Increase of intangible assets mainly due to fx-
Slide 22: Balance sheet (liabilities and equity)
HOCHTIEF Group – Balance sheet (liabilities and equity) HOCHTIEF Group Shareholders‘ equity – FY 2025 9M 2026 Δ FY (EUR million) Movements in Q3 2026 (EUR million) Liabilities and shareholders’ equity 24,419.5 27,399.7 2,980.2 Profit after taxes 798 SHARE- Dividends -600 HOLDERS’ Shareholders' equit
Slide 23: Financing structure 9M 2026
HOCHTIEF Group - Financing structure 9M 2026 Net cash / Net debt calculation: end 9M 2025 end 9M 2026 end FY 2025 • Strong liquidity position of EUR 7.2bn per end 9M 2026 (cash, period end (EUR m) cash equivalents and marketable securities). Cash and cash equivalents 4,804 6,242 6,226 • In July 2026
Slide 24: Construction – Turner
Turner 9M 2026 results presentation – November 5, 2026 © Jason Doiy © Dornan © Image courtesy of the Los Angeles Clippers © Turner © Image courtesy of the Los Construction Angeles Clippers 24
Slide 25: Turner - Segment overview
Turner - Segment overview Financials (USD million) 9M 2025 9M 2026 Δ yoy • High added-value advanced-tech building solutions with 45 offices across the U.S. Sales 21,020 26,033 24% • Client-focused construction management delivery model EBITDA 720 1,051 46% resulting in 80% repeat clients; Leader in
Slide 26: CIMIC
CIMIC © UGL © Leighton Asia © misheye © UGL © CPB Contractors 9M 2026 results presentation – November 5, 2026 26
Slide 27: CIMIC - Segment overview
CIMIC - Segment overview Financials 9M 2025 9M 2026 Δ yoy • Largest Australasian player providing engineering-led (AUD million) comparable comparable Sales 13,115 13,531 3% integrated solutions and critical mineral-related EBITDA 1,584 1,556 -2% services with 39,000 employees across the whole projec
Slide 28: 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 Thiess also acquir
Slide 29: Engineering & Construction
9M 2026 results presentation – November 5, 2026 Engineering & Construction © HOCHTIEF © HOCHTIEF © HOCHTIEF Polska HOCHTIEF Datacenter © HOCHTIEF/Schroll © HOCHTIEF © Udo Görisch 29
Slide 30: Engineering & Construction - Segment overview
Engineering & Construction - Segment overview Financials 9M 2025 9M 2026 Δ yoy • Leading civil engineering businesses in Europe (EUR million) Sales 1,233 1,321 7% (HOCHTIEF) and 38.2% stake in FlatironDragados, the EBITDA 79 109 39% 2nd largest civil engineering and construction player Operational p
Slide 31: 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 • Deployment starting; Procurement accelera
Slide 32: 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 33: 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 34: FX rates
FX rates End of period: Q1 H1 9M Mar 31st Mar 31st yoy Jun 30th Jun 30th yoy Sep 30th Sep 30th yoy 2025 2026 2025 2026 2025 2026 EUR / USD 1.08 1.16 7% EUR / USD 1.18 1.14 -3.0% EUR / USD 1.17 1.13 -3% USD / EUR 0.92 0.86 -6% USD / EUR 0.85 0.88 3.1% USD / EUR 0.85 0.88 4% EUR / AUD 1.73 1.68 -3% EU
Slide 35: 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 36: 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 37: 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 38: Investor Relations contacts and calendar
Investor Relations contacts and calendar For further information please contact: Investor Relations HOCHTIEF Aktiengesellschaft Alfredstr. 236 45133 Essen, Germany Phone: +49 201 824 1870 Fax: +49 201 824 9 1870 investor-relations@hochtief.de Mike Pinkney Tobias Loskamp Nadine Wärmer Martina Horst 9
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