HOCHTIEF : Q1 operational net profit up 30%, record backlog, and strong cash conversion

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Press release Essen, May 11, 2026 HOCHTIEF Q1 operational net profit up 30%, record backlog, and strong cash conversion Download PDF © HSU UniBw H Q1 2026 operational net profit up 30% year on year New orders up 27% fx-adjusted driving EUR 79.3 billion record backlog Net operating cash flow LTM up EUR 0.7 billion year on year to EUR 1.8 billion 2026 operational net profit guidance EUR 950-1,025 million (up 20-30%) reiterated HOCHTIEF has made a solid start to the 2026 financial year, delivering strong increases in revenues, profits and orders during the first quarter. Group sales increased 14% (foreign exchange-adjusted) to EUR 9.4 billion, driven by strong operational performance and successful strategic delivery. Operational net profit rose to EUR 217 million, representing an increase of 30% compared with the prior year period. During the last 12 months, the Group achieved outstanding operating cash flow of EUR 2.5 billion pre-factoring, reflecting continued discipline in working capital management and the Group's strong cash conversion. New orders increased by 27% fx-adjusted to EUR 15.2 billion, lifting the order backlog to a new record of EUR 79.3 billion at the end of March 2026. The backlog remains well diversified by geography and sector, with around 90% related to lower-risk contracts. HOCHTIEF Chief Executive Officer Juan Santamaría said: "HOCHTIEF has delivered a strong start to 2026, with higher earnings, a record order backlog and continued financial discipline. We are executing our strategy consistently and we are well positioned in markets where demand for complex, critical infrastructure continues to grow." At its recent Annual General Meeting, shareholders approved a 26% increase in the 2025 dividend to EUR 6.60 per share. New orders During the first quarter, HOCHTIEF secured new work across multiple markets, with a focus on end-to-end projects and sectors where demand for advanced infrastructure continues to accelerate. Selected highlights from the quarter include: AI, digital and technology : Turner selected as one of the contractors for the US$10 billion Meta data center campus in Indiana. Critical minerals : CIMIC selected to support delivery of the world's largest integrated zinc producer's tailings reprocessing facility in India. Energy (including nuclear) : HOCHTIEF selected to support the global program to deploy Rolls-Royce Small Modular Reactors. Defense : HOCHTIEF awarded the modernization of the military airport in Čáslav, one of the key centres of the Czech Air Force These wins reinforce the quality of the order book and provide strong visibility for the remainder of the year and beyond. Strategy and outlook HOCHTIEF continues to execute its strategy, focusing on engineering-led delivery across the full infrastructure life cycle, disciplined capital allocation and targeted expansion in high-growth markets including AI, digital and technology, energy (including nuclear), critical minerals and defense. The Group remains well positioned to benefit from sustained infrastructure investment across its regions, supported by its scale, technical capability and long-established local presence. For 2026, HOCHTIEF expects an operational net profit of EUR 950-1,025 million, subject to market conditions, corresponding to an increase of 20 to 30% year on year. HOCHTIEF Group: Key Figures (EUR million) Q1 2025 Q1 2026 Δ yoy FY 2025 Sales 8,917 9,394 5.3% 38,237 Operational profit before tax / PBT 286 352 23.2% 1,303 Operational PBT margin in % 3.2% 3.7% 50 bps 3.4% Operational net profit 167 217 29.8% 789 Operational EPS (in EUR) 2.22 2.88 29.7% 10.49 Dividend per share for FY (in EUR) 6.60 EBITDA 491 581 18.3% 2,215 EBITDA margin in % 5.5% 6.2% 70 bps 5.8% EBIT 335 428 27.8% 1,544 EBIT margin in % 3.8% 4.6% 80 bps 4.0% Profit before tax / PBT nominal 427 345 -19.3% 1,410 Net profit nominal 308 210 -31.8% 902 Nominal EPS (in EUR) 4.09 2.79 -31.8% 11.99 Operating cash flow (OCF) LTM 2,036 2,326 290 2,038 Operating cash flow LTM pre-factoring 1,774 2,455 681 2,071 Net operating cash flow LTM 1,339 1,647 308 1,373 Net operating cash flow LTM pre-factoring 1,078 1,776 699 1,406 Operating cash flow (OCF) -815 -527 288 2,038 Operating cash flow pre-factoring -710 -326 384 2,071 Net capex, leases -167 -181 -14 -665 Net operating cash flow -982 -708 274 1,373 Net operating cash flow pre-factoring -877 -507 371 1,406 Net cash / net debt -1,986 -884 1,102 -97 New orders 12,964 15,191 17.2% 52,579 Work done 9,667 10,061 4.1% 41,398 Order backlog 70,221 79,318 13.0% 72,465 Footnotes Operational PBT and Net profit have been adjusted for non-operational factors. LTM stands for Last Twelve Months. Back to overview

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