Hochtief boosts new orders by 30% in first quarter of 2023

By Neil Gerrard10 May 2023

Construction of a single-span pylon bridge over the Alte Elbe river in Magdeburg, Germany. Hochtief recently worked with Doka on the construction of a single-span pylon bridge over the Alte Elbe river in Magdeburg, Germany. (Image: Doka)

Germany-based construction company Hochtief saw its order book rise 30% in the first quarter of 2023 compared to the year before, as sales and profits also increased.

Hochtief, which celebrates its 150th anniversary this year, owns construction brands across the world including Turner and Flatiron in the US, CIMIC in Australia, and Leighton Asia.

Revenue for the first quarter of 2023 was €6.2 billion (US$6.8 billion), a 16% increase on the same period a year before.

Operational profit before tax rose 13.1% to €203 million.

New orders were up 30% to €8.5 billion (US$9.3 billion), taking it to €51.8 billion (US56.7 billion) as at the end of March 2023.

Hochtief CEO, Juan Santamaría, said, “Hochtief has delivered a strong start to 2023 with solid growth in sales and profit. New orders rose by 30% in the first quarter and the Group’s order book further expanded to €51.8 billion.”

The business has hired around 5,000 construction professionals over the past 12 months, taking its total workforce to 37,000.

Earlier this month, Hochtief’s subsidiary Flatiron announced that it had won a deal in joint venture with Barnard Constructors of Canada to act as development partner to deliver phase one of the Green Line LRT project in Calgary, Canada.

The CAD 5.5 billion (US$4 billion) project involves the construction of 18km of dual light railway track, 13 passenger stations, 2km of underground tunnelling, and nine bridges.

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