Results of the joint-stock company HOCHTIEF CZ for 2017

The results of 2017 still reflected the impacts of the highly competitive market, low prices in public contracts and minimum profit margins from the past years. This time overlap is typical for the construction industry, for the tender procedures and the projects usually take many months and years and the current results to a certain extent correspond to the situation in the previous periods. The operating result of HOCHTIEF CZ for 2017 is CZK 67 million. After inclusion of the financial result, the company’s net profit for 2017 is CZK 30 million. Sales of products and services of the company increased slightly – from CZK 5.1 billion in 2016 to CZK 5.14 billion in 2017. Equity value is worth mentioning as well – on 31 December 2017, it reached CZK 1.037 billion. The average recalculated headcount increased in 2017 by almost 100 to 1,092 employees.

“In the business year 2017, we successfully started several large-scale projects, e.g. reconstruction of the Negrelli’s Viaduct in Prague, upgrade of the airport in České Budějovice or construction of a part of the D3 Highway close to Čadca, which is carried out by our subsidiary HOCHTIEF SK. The company continued in development and implementation of the initiative Industry 4.0 using the Building Information Modelling (BIM) system on a couple of pilot projects. In connection with the increasing shortage of human resources on the market, we further strengthened our cooperation with universities and technical high schools. Our in-house resources were fully utilized throughout the whole year in accomplishment of the objectives of our core business: comprehensive infrastructural projects for public clients and for clients from the industrial segment,” Jörg Mathew, member of the Executive Board of HOCHTIEF CZ responsible for the economy (CFO), assesses the situation.  

Last year, we also successfully completed a number of projects. One of the most important ones is our largest and most significant project in Slovakia – construction of the highway tunnel Považský Chlmec that is part of the newly built bypass in the section Žilina (Strážov) – Žilina (Brodno). In spring in Prague, an opening ceremony took place at the top-notch Czech Institute of Informatics, Robotics and Cybernetics, which was attended by the president of the Czech Republic Miloš Zeman. This project was one of the finalists in the Building of 2017 competition.

Overview of the main economic indicators of the company for 2017.

                                                                   in MCZK

Detailed economic results and audited financial statements are published in the Company Report 2017.

The Company Report can be downloaded on the web pages of HOCHTIEF CZ here.