welcome to the general shareholders’ meeting 2009 · yankee stadium, new york area c mine,...
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Welcome to the General Welcome to the General Shareholders’ Meeting 2009g
1
Yankee Stadium, New York Area C Mine, Western Australia A4 expressway, Thuringia
2Turning Vision into Value.Kranhaus, Cologne Lipowy Office Park, Warsaw Saint Gobain, Stolberg
Dividends
• Further dividend rise to EUR 1.40 per no-par-value share 1 40
1,501.50
• Nearly eight percent increase on prior year
1.301.40
0,90
1,20
R 0.90
1.20
• Payout ratio over 55 percent of consolidated net profit 0,60
0,90
EU
R 0.90
0.60
0,300.30
0,00
2007 2008
0.00
3Turning Vision into Value.
St. Anthony Falls Bridge, Minneapolis Europaviertel, Frankfurt am Main
4Turning Vision into Value.BUD Skycourt, Budapest Airport Benneke-Kaliko, Eislingen
Onward Development of our Business
• Organic growth
• Focus on regions and markets with high growth potential• Focus on regions and markets with high growth potential
– Public-private partnership business in North America
E i f d t • Expansion of product range
– Energy efficiency services
5Turning Vision into Value.
Life Cycle Management
• Extensive range of construction-related services
• HOCHTIEF spans the entire infrastructure project real estate and • HOCHTIEF spans the entire infrastructure project, real estate and facility value chain
• Tailored one stop solutions• Tailored one-stop solutions
• Strategy coming into its own in the crisis
I t ti l b i b t f fl t ti– International business base compensates for fluctuations
– Services and concessions business with long-term contracts
• HOCHTIEF is the most international construction services provider
6Turning Vision into Value.
Key Figures for 2008
7Turning Vision into Value.
Orders and Work DoneEUR billionEUR billion
New orders Work done Order backlog
35
23 51 25.28
29.89 30.92
25
30
35
23.51
18.7721.64
20
25
10
15
0
5
8Turning Vision into Value.
2007 2008 2007 2008 2007 2008
SalesEUR billionEUR billion
19.1020
16.4515
10
5
0
2007 2008
9Turning Vision into Value.
2007 2008
ProfitEUR millionEUR million
Profit before taxes Profit after taxes
520 1600
501.3 520.1
400
500
341.0 342.2
300
400
100
200
0
100
2007 2008 2007 2008
10Turning Vision into Value.
2007 2008 2007 2008
Consolidated Net ProfitEUR millionEUR million
175.10
180
140.7120
150
90
30
60
0
2007 2008
11Turning Vision into Value.
2007 2008
Thank You to our Workforce
12Turning Vision into Value.
Thank You to our Workforce
13Turning Vision into Value.
HOCHTIEF GroupStock price performance
110% HOCHTIEF
Stock price performanceJan. 2, 2008 May 6, 2009
90%
100%
HOCHTIEF
Dax
70%
80% MDax
50%
60%
30%
40%
14Turning Vision into Value.
20%
Ownership Structure
• Stock buy-back program: Total of 4.95 percent of company stock
Ownership structure today
repurchased via stock market
• 64.9 percent free float at 2008
29.98%
year-end
• ACS stake increased to 29.98 percent at start of 2009 4.9996%
65.0204%2)
ACS Treasury stock Free float
1) ACS: Actividades de Construcción y Servicios S.A., Madrid, Spain2) Including a partial stake of 4 9999% (corresponding to 3 499 950
1)
15Turning Vision into Value.
2) Including a partial stake of 4.9999% (corresponding to 3,499,950 voting rights) held by HOCHTIEF Pension Trust e.V.
HOCHTIEF Americas
16Turning Vision into Value.Experimental Media Performing Arts Center, Troy, New York
HOCHTIEF Americas
Turner
• Splendid new achievements in 2008 especially in:• Splendid new achievements in 2008, especially in:
– Education and healthcare property
Green building– Green building
• Good start to fiscal 2009
Flatiron
• Very healthy 2008y y
• First quarter 2009: Largest contract ever secured by Flatiron
– Port Mann Bridge, Vancouver, Canada
17Turning Vision into Value.
Port Mann Bridge, Vancouver, Canada
HOCHTIEF Americas
18Turning Vision into Value.Highway 17 Bypass, Washington, North Carolina
HOCHTIEF Americas
• Huge potential in US infrastructure construction due to planned economic stimulus spending
• Well positioned across the board as No. 1 general builder and one of top ten companies in infrastructure
• Turner and Flatiron: End-to-end solutions in teamwork
– New terminal for Sacramento International AirportNew terminal for Sacramento International Airport
19Turning Vision into Value.
HOCHTIEF AmericasFlatironFlatiron
20Turning Vision into Value.Terminal B, Sacramento International Airport
HOCHTIEF Asia Pacific
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21Turning Vision into Value.Southern Cross Station, Melbourne
HOCHTIEF Asia Pacific
• 2008 another successful year
• Major projects in all segments• Major projects in all segments
• Successful activities in Gulf states
• General stock market turmoil reflected in division—operating business of investments still robust despite writedown as of December 31 2008December 31, 2008
22Turning Vision into Value.
HOCHTIEF Concessions
23Turning Vision into Value.Metropolitan Expo exhibition and conference center, Athens International Airport © Athens Metropolitan Expo
HOCHTIEF Concessions
HOCHTIEF AirPort
• Total traffic boosted to 90 million passengers• Total traffic boosted to 90 million passengers
• Profitable non-aviation business expanded
HOCHTIEF PPP Solutions
• Elefsina-Patras-Tsakona toll road project secured in Greecep j
• Awarded German federal government’s first PPP building project
24Turning Vision into Value.
HOCHTIEF Concessions
25Turning Vision into Value.Fürst Wrede barracks, Munich
HOCHTIEF Concessions
• Entry into PPP market in North America
– Potential synergies from linking public-private partnership Potential synergies from linking public private partnership expertise with Turner’s and Flatiron’s services
• New areas of businessNew areas of business
– Successful start to geothermal energy business
– Transfer of this successful model to other segmentsTransfer of this successful model to other segments
– Broadening presence in offshore wind farm business
26Turning Vision into Value.
HOCHTIEF Concessions
27Turning Vision into Value.Geothermal drilling site, Kirchstockach
28Turning Vision into Value.Moers town hall
HOCHTIEF Europe
29Turning Vision into Value.Kranhaus, Cologne
HOCHTIEF Europe
• 2008 shaped by international successes
• Very strong performance in civil engineering and infrastructure • Very strong performance in civil engineering and infrastructure construction
• Planned decline in German construction business more than • Planned decline in German construction business more than compensated by large-scale international infrastructure projects
• Successful strategic repositioning internationally• Successful strategic repositioning internationally
30Turning Vision into Value.
HOCHTIEF EuropeBarwaBarwabildseite
31Turning Vision into Value.Barwa Commercial Avenue, Doha, Qatar
HOCHTIEF Real Estate
32Turning Vision into Value.Unilever House, Hamburg
HOCHTIEF Real Estate
HOCHTIEF Projektentwicklung
• 30 projects worth a total of EUR 1 28 billion in construction phase at • 30 projects worth a total of EUR 1.28 billion in construction phase at 2008 year-end
• 87 percent already leased out and 49 percent already sold to 87 percent already leased out and 49 percent already sold to investors prior to completion
aurelisaurelis
• Successful in selling a number of sites
HOCHTIEF Property Management
• To manage entire German portfolio of aurelis
33Turning Vision into Value.
• Largest provider of property management services in Germany
HOCHTIEF Real Estate
34Turning Vision into Value.Property management for Deutsche Bahn office building, Karlsruhe
HOCHTIEF Services
35Turning Vision into Value.Saint Gobain, Aachen
HOCHTIEF Services
HOCHTIEF Facility Management
• Siemens contract extended: HOCHTIEF Facility Management to • Siemens contract extended: HOCHTIEF Facility Management to operate 60 sites for another six years
• New contract to operate 52 Hesse State properties• New contract to operate 52 Hesse State properties
HOCHTIEF Energy Management
• A leading provider of energy contracting services
• Cutting-edge methods for procuring and saving energyg g p g g gy
36Turning Vision into Value.
HOCHTIEF Services
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37Turning Vision into Value.DEVK, Cologne
Sustainability
38Turning Vision into Value.WestendDuo, Frankfurt am Main
Sustainability
• Common denominator throughout the Group
• Able to make a particularly large contribution to reducing energy • Able to make a particularly large contribution to reducing energy consumption
– Construction and real estate sector responsible for at least 40 Construction and real estate sector responsible for at least 40 percent of all primary resource consumption
• Financial advantage of green buildingsFinancial advantage of green buildings
– Sell at up to 16 percent premium on conventional counterparts in USA
– German green building market at upwards of EUR 20 billion and rising
39Turning Vision into Value.
Nachhaltigkeit
40Turning Vision into Value.DB AG Bürogebäude, KarlsruheOne Haworth Center, Holland, Michigan
Sustainability
Accomplishments in 2008
• Major hand in developing green building certification in Germany• Major hand in developing green building certification in Germany
• Gold preliminary certificate for “smarthouse” project in Munich
• Now 900 LEED Accredited Professionals at Turner
• HOCHTIEF listed in Dow Jones Sustainability Indexes for third time
41Turning Vision into Value.
Nachhaltigkeit
42Turning Vision into Value.smarthouse, Munich
Strategic Initiatives
• HOCHTIEF expanding in rapidly growing regions
• HOCHTIEF expanding its services business• HOCHTIEF expanding its services business
• HOCHTIEF adding to its range of capabilities
• HOCHTIEF systematically exploiting synergies across the Group
• HOCHTIEF positioning itself as an attractive employer
43Turning Vision into Value.
Outlook
• New orders, order backlog and sales:Steadying at normal levels, below 2008 figures
• Profit before taxes and consolidated net profit:Similarly high levels to 2008
44Turning Vision into Value.
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