Hochtief Backs FY21 Outlook; Proposes Dividend

German construction major Hochtief AG (HOCFF.PK) Thursday confirmed its fiscal 2021 guidance. Operational net profit for the year is expected to be about 410 million euros to 460 million euros.

This represents an increase of 11 percent to 25 percent year on year compared with 368 million euros of 2020 adjusted for the divestment of 50 percent Thiess.

Further, the proposed dividend amounts to 3.93 euros per share or 278 million euros despite the Corona pandemic. This corresponds to an unchanged payout ratio of 65 percent of nominal net profit.

At the Annual General Meeting, CEO Marcelino Fern√°ndez Verdes said the company is developing science-based carbon reduction targets for sustainability plan 2021 to 2025.

The company supports targets of the Paris Climate Agreement and aims to be environmentally neutral well ahead of 2050.

looked back on the past year in which HOCHTIEF achieved robust results despite the Corona pandemic.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
After Disney World, retail giant Walmart Inc. (WMT) makes it mandatory for all its employees to wear mask on their facilities in the "high-risk" states where the Delta variant of Coronavirus has become menacing. The orders will be in effect immediately. The Center for Disease Control and Prevention... Generac Power Systems is recalling 325,735 units of Generac and DR 6500 Watt and 8000 Watt portable generators for potential risk of finger amputation and crushing hazards, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. These include 4,575 units sold in Canada. Omaha, Nebraska- based Greater Omaha Packing is recalling around 295,236 pounds of raw beef products citing the possible presence of E. coli O157:H7, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said. The raw beef products intended for non-intact use were produced on July 13.
Follow RTT