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Hochtief Q1 Profit Climbs; Confirms Outlook For Higher Profit In FY19

German construction major Hochtief AG (HOCFF.PK) reported Monday that its first-quarter nominal net profit climbed 31 percent to 128 million euros from last year's 97.9 million euros.

Earnings per share grew 19.1 percent to 1.81 euros from prior year's 1.52 euros.

Operational net profit, which excluded non-operational effects, was 133 million euros, up 25 percent from last year.

Profit growth was driven by all divisions and included Abertis' 21 million euros earnings contribution.

Nominal profit before tax grew 17 percent to 233 million euros, and operational profit before tax climbed 15% to 238 million euros.

Sales were 5.73 billion euros, a growth of 9 percent from 5.27 billion euros. Adjusting for foreign exchange rate movements, sales were up 5%.

The first-quarter order book of 49.3 billion euros increased by 11 percent year on year. New orders were 7.1 billion euros, a 5% increase from last year

Looking ahead, Hochtief said it is well positioned for the rest of 2019 and beyond.

For fiscal 2019, Hochtief continues to expect to achieve an operational net profit in the range of 640 million euros to 680 million euros, an increase of between 22 percent and 30 percent from the prior year's 523 million euros.

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