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HOCHTIEF Q1 profit climbs 15.9% YOY

HOCHTIEF AG said its first-quarter normalized net income was €1.26 per share, compared with the S&P Capital IQ consensus estimate of €1.36 per share.

EPS climbed 16.3% year over year from €1.09.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €81.1 million, a gain of 15.9% from €69.9 million in the prior-year period.

The normalized profit margin dropped to 1.6% from 1.6% in the year-earlier period.

Total revenue rose 16.6% on an annual basis to €5.15 billion from €4.41 billion, and total operating expenses increased 15.1% from the prior-year period to €4.93 billion from €4.29 billion.

Reported net income grew 39.4% year over year to €88.3 million, or €1.37 per share, from €63.3 million, or 98 cents per share.