HOCHTIEF Aktiengesellschaft, DE0006070006

HOCHTIEF Aktiengesellschaft, DE0006070006

05.11.2021 - 22:21:18

HOCHTIEF Aktiengesellschaft: Arbitration decision having an extraordinary one-off impact of around EUR 195 million on the nominal net profit

HOCHTIEF Aktiengesellschaft (HOCHTIEF) today was informed of the decision in a long-running arbitration concerning a legacy project from 2012 for the construction of a hydro electric power plant in Chile. HOCHTIEF left the Chilean construction market in 2017. A subsidiary of the division HOCHTIEF Europe was involved in the construction joint venture. The decision will have a negative extraordinary one-off impact on HOCHTIEF's nominal net profit of around EUR 195 million (which includes the amount awarded, interest, legal fees and other costs), thereof approximately EUR 146 million will be cash flow effective. The guidance for the operational net profit of EUR 410-460 million remains unchanged, as the operational net profit does not include extraordinary one-off items. The company is currently analyzing actions including extraordinary profits at the HOCHTIEF Group to mitigate the impact. Furthermore, the joint venture is investigating options to challenge the decision. ?

05-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.dgap.de

Language: English Company: HOCHTIEF Aktiengesellschaft Alfredstra?e 236 45133 Essen

Germany Phone: +49 (0)201 824-1833 Fax: +49 (0)201 824-2750 E-mail: investor-relations@hochtief.de Internet: www.hochtief.de ISIN: DE0006070006 WKN: 607000 Indices: SDAX Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart, Tradegate Exchange EQS News ID: 1246780 ? End of Announcement DGAP News Service


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