German construction major Hochtief AG (HOCFF.PK) reported 47% higher net profit of 251.7 million euros in 2014, compared with the restated 171.2 million euros last year. Earnings per share for the year were 3.64 euros this year, up 53.6% from the previous year's 2.37 euros.
Adjusted for one-off items like disposals of activities and restructuring expenses, operational net profit grew 46% to 252 million euros from 173 million euros in 2013. Operational earnings before taxes rose by 16% to 644 million euros.
Full-year external sales totaled 22.1 billion euros, down 1.8%, compared with 22.5 billion euros a year ago.
Looking ahead to 2015, the firm expects operational net profit of between 220 million euros and 260 million euros, representing an increase of 15% to 35%.
At the upcoming Annual General Meeting, the Executive Board and Supervisory Board of HOCHTIEF intend to propose to shareholders the distribution of a dividend for 2014 of 1.90 euros per share.
For comments and feedback: editorial@rttnews.com