Net income this year will exceed the €100 million ($134 million) goal, the Essen-based company said today. Sales and the order book will probably be little changed. Hochtief AG, in which Spanish rival Actividades de Construccion & Servicios SA yesterday bought a 25% stake, had aimed to hit the target by the end of 2009 at the latest. Earnings will be boosted by Asian spending on roads, bridges and offices and as a broader range of services helps it win higher-margin work.
„This will place special emphasis on joint projects and advance cooperation between all group companies across divisional and regional boundaries, „ Hochtief’s CEO-designate Herbert Luetkestratkoetter said in a statement handed to journalists in Dusseldorf. Net income at Hochtief last year rose to €89.1 million, or €1.37 a share, from €67.7 million, or €1.07, in 2005. Revenue climbed 14% to €15.5 billion. The company plans to raise its annual dividend by 22% to €1.10 a share. (Bloomberg)
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