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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.

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