Cash flow HOCHTIEF AG

Equities

HOT

DE0006070006

Construction & Engineering

Market Closed - Xetra Other stock markets 11:35:03 2025-01-20 am EST			After market 12:59:07 pm
137.10 ^EUR	+1.48%		136.65	-0.33%

Dec. 03	HOCHTIEF : BofA raises its recommendation	CF
Dec. 03	Hochtief at multi-year high - positive outlook for infrastructure	DP

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Published financial data: HOCHTIEF AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	25.85B	22.95B	21.38B	26.22B	27.76B
Total Revenues	25.85B	22.95B	21.38B	26.22B	27.76B
Cost of Goods Sold, Total	18.99B	17.4B	16.09B	19.9B	20.91B
Gross Profit	6.87B	5.55B	5.29B	6.32B	6.85B
Selling General & Admin Expenses, Total	4.52B	4.55B	3.86B	4.77B	5.16B
Depreciation & Amortization - (IS)	701M	672M	314M	334M	313M
Other Operating Expenses	693M	837M	723M	987M	777M
Other Operating Expenses, Total	5.92B	6.06B	4.89B	6.09B	6.25B
Operating Income	949M	-507M	393M	229M	598M
Interest Expense, Total	-196M	-190M	-143M	-184M	-257M
Interest And Investment Income	80.56M	63.98M	52.46M	124M	148M
Net Interest Expenses	-116M	-126M	-90.73M	-60.8M	-109M
Income (Loss) On Equity Invest.	316M	127M	174M	293M	314M
Currency Exchange Gains (Loss)	5.65M	-19.28M	7.49M	-5.92M	-7.65M
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	1.16B	-525M	484M	455M	796M
Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-1.72B	-22.79M	-28.38M	-57.92M	-33.91M
Gain (Loss) On Sale Of Assets	11.34M	1.55B	39.89M	345M	2.15M
Asset Writedown	-568K	-31.48M	-283K	-9.6M	-1.13M
Legal Settlements	-69.88M	-93.34M	-60.33M	-56.14M	-47.72M
EBT, Incl. Unusual Items	-627M	882M	435M	677M	715M
Income Tax Expense	-292M	332M	142M	162M	171M
Earnings From Continuing Operations	-335M	550M	293M	515M	544M
Earnings Of Discontinued Operations	-	32.44M	-4.48M	-	-
Net Income to Company	-335M	582M	289M	515M	544M
Minority Interest	129M	-155M	-81M	-33.24M	-21.28M
Net Income - (IS)	-206M	427M	208M	482M	523M
Net Income to Common Incl Extra Items	-206M	427M	208M	482M	523M
Net Income to Common Excl. Extra Items	-206M	395M	212M	482M	523M
Per Share Items
Net EPS - Basic	-2.92	6.16	3.05	6.68	6.95
Basic EPS - Continuing Operations	-2.92	5.69	3.12	6.68	6.95
Basic Weighted Average Shares Outstanding	70.62M	69.39M	68.18M	72.07M	75.2M
Net EPS - Diluted	-2.92	6.16	3.05	6.68	6.95
Diluted EPS - Continuing Operations	-2.92	5.69	3.12	6.68	6.95
Diluted Weighted Average Shares Outstanding	70.62M	69.39M	68.18M	72.07M	75.2M
Normalized Basic EPS	12.05	-6.96	3.25	3.49	6.33
Normalized Diluted EPS	12.05	-6.96	3.25	3.49	6.33
Dividend Per Share	5.8	3.93	1.91	4	4.4
Payout Ratio	-170.5	103.23	128.88	27.01	57.53
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	1.37B	-111M	575M	428M	752M
EBITA	981M	-479M	409M	229M	598M
EBIT	949M	-507M	393M	229M	598M
EBITDAR	1.49B	11.5M	675M	723M	1.09B
Effective Tax Rate - (Ratio)	46.57	37.68	32.55	23.95	23.91
Total Current Taxes	289M	99.06M	180M	114M	127M
Total Deferred Taxes	-582M	233M	-38.84M	47.93M	43.55M
Normalized Net Income	851M	-483M	222M	251M	476M
Interest Capitalized	22.31M	18.79M	18.99M	20.47M	14.9M
Interest on Long-Term Debt	32.07M	46.08M	33.82M	36.41M	33.51M
Non-Cash Pension Expense	7.07M	5.57M	4.21M	4.78M	7.31M
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	-	-
Selling and Marketing Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	16.3M	30.92M	30.99M	12.84M	11.42M
Net Rental Expense, Total	125M	123M	100M	295M	339M
Imputed Operating Lease Interest Expense	55.51M	37.71M	25.36M	91.67M	131M
Imputed Operating Lease Depreciation	69.98M	84.99M	74.71M	204M	208M
Stock-Based Comp., Other (Total)	5.79M	985K	765K	-1.01M	4.85M
Total Stock-Based Compensation	5.79M	985K	765K	-1.01M	4.85M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	4.46B	4.95B	4.28B	4.81B	5.15B
Short Term Investments	449M	470M	568M	585M	624M
Total Cash And Short Term Investments	4.91B	5.42B	4.85B	5.39B	5.77B
Accounts Receivable, Total	5.57B	4.41B	4.82B	5.42B	6.03B
Other Receivables	525M	361M	427M	401M	407M
Notes Receivable	37.14M	24.26M	21.3M	34.5M	75.39M
Total Receivables	6.13B	4.79B	5.26B	5.85B	6.51B
Inventory	435M	284M	345M	370M	370M
Prepaid Expenses	108M	98.98M	94.4M	106M	170M
Other Current Assets, Total	255M	1.12B	386M	495M	523M
Total Current Assets	11.84B	11.72B	10.94B	12.21B	13.34B
Gross Property Plant And Equipment	4.24B	2.14B	2.03B	2.18B	2.07B
Accumulated Depreciation	-2.44B	-1.29B	-1.27B	-1.41B	-1.3B
Net Property Plant And Equipment	1.8B	850M	757M	769M	761M
Long-term Investments	1.93B	2.39B	2.52B	3.24B	2.95B
Goodwill	1.05B	918M	968M	993M	976M
Other Intangibles, Total	139M	124M	123M	124M	126M
Accounts Receivable Long-Term	-	-	-	-	10.03M
Loans Receivable Long-Term	97.82M	111M	107M	87.89M	113M
Deferred Tax Assets Long-Term	721M	521M	456M	383M	346M
Other Long-Term Assets, Total	325M	349M	366M	487M	383M
Total Assets	17.9B	16.98B	16.24B	18.3B	19.01B
Liabilities
Accounts Payable, Total	6.9B	5.45B	5.44B	6.72B	7.04B
Accrued Expenses, Total	607M	489M	513M	573M	748M
Short-term Borrowings	651K	277M	724K	252K	259K
Current Portion of Long-Term Debt	943M	774M	529M	503M	529M
Current Portion of Leases	256M	123M	116M	117M	115M
Current Income Taxes Payable	43.98M	69.6M	126M	129M	161M
Unearned Revenue Current, Total	1.76B	1.92B	2.2B	2.29B	2.26B
Other Current Liabilities	1.54B	1.61B	810M	717M	1.12B
Total Current Liabilities	12.05B	10.71B	9.74B	11.05B	11.98B
Long-Term Debt	2.73B	3.93B	3.94B	4.72B	4.55B
Long-Term Leases	529M	279M	272M	356M	326M
Unearned Revenue Non Current	48.8M	78.2M	87.36M	72.3M	50.66M
Pension & Other Post Retirement Benefits	428M	482M	441M	259M	295M
Deferred Tax Liability Non Current	48.98M	43.61M	52.48M	66.72M	82.3M
Other Non Current Liabilities	487M	490M	625M	545M	459M
Total Liabilities	16.32B	16.02B	15.15B	17.07B	17.74B
Common Stock, Total	181M	181M	181M	199M	199M
Additional Paid In Capital	1.71B	1.71B	1.71B	2.1B	2.1B
Retained Earnings	-292M	-493M	-594M	-1.1B	-885M
Treasury Stock	-1.64M	-170M	-174M	-174M	-172M
Comprehensive Income and Other	-323M	-560M	-322M	112M	-5.93M
Total Common Equity	1.28B	670M	801M	1.13B	1.24B
Minority Interest	309M	293M	285M	95.67M	30.79M
Total Equity	1.58B	963M	1.09B	1.23B	1.27B
Total Liabilities And Equity	17.9B	16.98B	16.24B	18.3B	19.01B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	70.62M	68.19M	68.12M	75.19M	75.21M
ECS Total Common Shares Outstanding	70.62M	68.19M	68.12M	75.19M	75.21M
Book Value / Share	18.06	9.82	11.76	15.08	16.43
Tangible Book Value	88.48M	-372M	-290M	16.5M	133M
Tangible Book Value Per Share	1.25	-5.45	-4.26	0.22	1.77
Total Debt	4.46B	5.39B	4.85B	5.7B	5.52B
Net Debt	-451M	-52.95M	-20.64M	274M	-282M
Debt Equivalent of Unfunded Proj. Benefit Obligation	347M	400M	378M	192M	238M
Debt Equivalent Oper. Leases	1B	982M	801M	2.36B	2.72B
Minority Interest, Total (Incl. Fin. Div)	309M	293M	285M	95.67M	30.79M
Equity Method Investments, Total	1.85B	2.33B	2.43B	2.63B	2.73B
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	250M	124M	157M	186M	170M
Inventories - Work In Process, Total	153M	147M	174M	170M	176M
Inventories - Finished Goods, Total	11.22M	10.41M	10.71M	10.18M	10.93M
Inventories - Others	20.24M	3.26M	2.93M	4.5M	12.76M
Land - (BS)	109M	106M	103M	99.22M	101M
Machinery, Total	2.7B	1.13B	1.07B	1.07B	1.03B
Full Time Employees	48.55K	42.37K	30.92K	34.15K	36.75K
Order Backlog	51.36B	45.84B	51.92B	51.4B	55.33B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-206M	427M	208M	482M	523M
Depreciation & Amortization - CF	648M	630M	299M	335M	289M
Amortization of Goodwill and Intangible Assets - (CF)	31.82M	27.94M	15.89M	-	-
Depreciation & Amortization, Total	679M	658M	315M	335M	289M
(Gain) Loss From Sale Of Asset	-8.77M	-20.58M	-10.08M	-28.53M	5.87M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	553K	31.48M	-411K	9.22M	1.13M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	1.04B	66.98M	289M	-203M	781M
Change in Other Net Operating Assets	102M	-456M	-414M	456M	-264M
Cash from Operations	1.6B	707M	387M	1.05B	1.34B
Capital Expenditure	-587M	-397M	-79.24M	-188M	-211M
Sale of Property, Plant, and Equipment	24.36M	26.08M	23.69M	23.55M	18.26M
Cash Acquisitions	-169M	-270M	-193M	-316M	-383M
Divestitures	13.49M	1.36B	78.58M	56.89M	417M
Investment in Marketable and Equity Securities, Total	-248M	-71.29M	-50.01M	-61.08M	-90.6M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-966M	648M	-220M	-485M	-250M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	2.23B	3.99B	2.05B	3.05B	2.1B
Total Debt Issued	2.23B	3.99B	2.05B	3.05B	2.1B
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-1.55B	-3.74B	-2.75B	-2.46B	-2.3B
Total Debt Repaid	-1.55B	-3.74B	-2.75B	-2.46B	-2.3B
Issuance of Common Stock	1.48M	-	376K	406M	1.9M
Repurchase of Common Stock	-10.39M	-338M	-4.95M	-	-
Common Dividends Paid	-352M	-441M	-268M	-130M	-301M
Common & Preferred Stock Dividends Paid	-352M	-441M	-268M	-130M	-301M
Other Financing Activities, Total	-122M	-99.1M	-106M	-1.04B	-84.9M
Cash from Financing	201M	-632M	-1.08B	-167M	-584M
Foreign Exchange Rate Adjustments	55.71M	-258M	225M	125M	-158M
Net Change in Cash	892M	465M	-683M	524M	343M
Supplemental Items
Cash Interest Paid	162M	202M	112M	152M	214M
Cash Income Tax Paid (Refund)	270M	153M	124M	125M	114M
Levered Free Cash Flow	1.68B	4.21M	151M	779M	452M
Unlevered Free Cash Flow	1.8B	123M	240M	895M	613M
Change In Net Working Capital	-1.11B	-177M	242M	-605M	-156M
Net Debt Issued / Repaid	683M	246M	-696M	599M	-200M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.54	-1.76	1.48	0.83	2
Return on Total Capital	9.97	-4.72	4	2.22	5.45
Return On Equity %	-16.78	42.98	28.65	44.49	43.6
Return on Common Equity	-13.15	40.39	28.89	49.8	44.13
Margin Analysis
Gross Profit Margin %	26.56	24.18	24.72	24.11	24.67
SG&A Margin	17.49	19.81	18.03	18.2	18.59
EBITDA Margin %	5.28	-0.48	2.69	1.63	2.71
EBITA Margin %	3.8	-2.09	1.91	0.87	2.16
EBIT Margin %	3.67	-2.21	1.84	0.87	2.16
Income From Continuing Operations Margin %	-1.3	2.39	1.37	1.96	1.96
Net Income Margin %	-0.8	1.86	0.97	1.84	1.88
Net Avail. For Common Margin %	-0.8	1.72	0.99	1.84	1.88
Normalized Net Income Margin	3.29	-2.1	1.04	0.96	1.71
Levered Free Cash Flow Margin	6.49	0.02	0.7	2.97	1.63
Unlevered Free Cash Flow Margin	6.97	0.53	1.12	3.41	2.21
Asset Turnover
Asset Turnover	1.54	1.28	1.29	1.52	1.49
Fixed Assets Turnover	15.05	17.24	26.61	34.37	36.28
Receivables Turnover (Average Receivables)	4.91	4.26	4.64	5.15	4.85
Inventory Turnover (Average Inventory)	46.71	48.05	51.14	55.65	56.49
Short Term Liquidity
Current Ratio	0.98	1.09	1.12	1.11	1.11
Quick Ratio	0.91	0.95	1.04	1.01	1.02
Operating Cash Flow to Current Liabilities	0.13	0.07	0.04	0.1	0.11
Days Sales Outstanding (Average Receivables)	74.28	86	78.72	70.94	75.23
Days Outstanding Inventory (Average Inventory)	7.81	7.62	7.14	6.56	6.46
Average Days Payable Outstanding	125.48	136.53	123.11	111.37	120.08
Cash Conversion Cycle (Average Days)	-43.38	-42.91	-37.25	-33.87	-38.39
Long Term Solvency
Total Debt/Equity	281.11	559.5	447.02	463.67	435.98
Total Debt / Total Capital	73.76	84.84	81.72	82.26	81.34
LT Debt/Equity	205.4	437.5	387.53	413.24	385.08
Long-Term Debt / Total Capital	53.9	66.34	70.84	73.31	71.85
Total Liabilities / Total Assets	91.15	94.33	93.31