HOCHTIEF Group published the result for 1Q/2017

• EUR 93 million operational net profit (+30% year on year),
  EUR 88 million nominal net profit (+40%)
  Operational PBT margin at 3.8%, +20 bps yoy
  Sales growth accelerating to 17% in Q1 2017 yoy, (Q4 2016 +9% yoy) due to organic growth and UGL contribution

• Over EUR 100 million year on year improved net cash from op. activities
  EBITDA cash conversion rate remains very high at 108% in last twelve months
  Further reduction in seasonally typical cash outflow

• EUR 341 million net cash position significantly positive (+ EUR 317 million yoy)
  Net cash would stand at approximately EUR 1 billion, if adjusted for net investments and dividends in the last twelve months

• EUR 45 billion order backlog (+23% yoy)
  Order backlog at highest level since transformation initiated; +13% yoy excluding UGL
  All divisions show double-digit yoy increases in order backlog
  New orders rose to EUR 7.4 billion (+18% yoy)

• First rating for the Group: BBB investment grade by Standard & Poor’s

• Guidance confirmed: Operational net profit for 2017 of
  EUR 410–450 million (+13% to 25% yoy)

HOCHTIEF has continued its positive development during the first quarter of 2017, increasing sales and profits as well as an improving cash flow performance and achieving strong order book growth. “We have made a very promising start to the year”, said CEO Marcelino Fernández Verdes