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HOCHTIEF Q1 profit climbs 886.3% YOY

HOCHTIEF AG said its first-quarter normalized net income came to 83 euro cents per share, compared with the S&P Capital IQ consensus estimate of 84 cents per share.

EPS increased 904.9% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €56.6 million, an increase of 886.3% from €5.7 million in the prior-year period.

The normalized profit margin rose to 1.1% from 0.1% in the year-earlier period.

Total revenue increased on an annual basis to €5.06 billion from €4.88 billion, and total operating expenses increased on an annual basis to €4.95 billion from €4.82 billion.

Reported net income rose 274.1% on an annual basis to €51.8 million, or 76 cents per share, from €13.9 million, or 20 cents per share.