Germany's Hochtief Q1 net profit, sales rise

HOCHTIEF AG

11/05/2026 12:15

Overview

Germany construction group's Q1 operational net profit up 30% yr/yr, sales rose 14% fx-adjusted

New orders for Q1 up 27% fx-adjusted, order backlog reached record EUR 79.3 bln

Company reiterated 2026 operational net profit guidance for 20-30% yr/yr growth

Outlook

Hochtief reiterates 2026 operational net profit guidance of EUR 950-1,025 mln, up 20-30% yoy

Result Drivers

OPERATIONAL PERFORMANCE - Co said Q1 sales growth was driven by strong operational performance and successful strategic delivery

WORKING CAPITAL DISCIPLINE - Co said strong operating cash flow reflected continued discipline in working capital management

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
EUR 9.39 bln
Q1 Operational Net Profit
EUR 217 mln
Q1 EBITDA
EUR 581 mln
Q1 EBITDA Margin
6.20%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy."

Wall Street's median 12-month price target for Hochtief AG is €457.00, about 16.8% below its May 8 closing price of €549.00

The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 28 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)