Nominal net profit rose to 鈧�321m (拢273m) 鈥� up 54% from 2015 - and operational net profit, which excludes one-off impacts, increased to 鈧�361m, representing a 37% gain year-on-year. This was at the top end of the guidance range Hochtief provided a year ago (鈧�300-鈧�360m).
The order backlog increased by +20% on the previous year to 鈧�43.1bn 鈥� its highest level in four years. New orders were received were 鈧�24.8bn, +15% on the 2015 figure.
In total Hochtief has identified a pipeline worth 鈧�150bn of relevant projects coming to its markets in North America, Asia-Pacific and Europe in 2017, with a further 鈧�350bn in 2018 and beyond. 聽
鈥淭he increased level of profits has been driven by improved project performance and reduced financial costs and is reflected in the higher level of profit margins,鈥� said CEO Marcelino Fern谩ndez Verdes. This resulted in the Group鈥檚 operational profit before tax margin rising from 2.8% last year to 3.4% in 2016. All three divisions鈥擜mericas, Asia Pacific, and Europe鈥攃ontributed toward the increase.
Revenues of nearly 鈧�20bn were at a slightly lower level (-5.6%) in 2016 compared with the previous year, but the trend has been positive. In the final three months of 2016, sales increased by almost 10% compared with the fourth quarter of 2015.
New orders were 15% higher year on year at nearly 鈧�25bn and the company said that it maintained a disciplined approach to risk management.
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