Reconciliation of profit from operating activities to operating earnings (EBITA)
| (EUR thousand) | H1 2008 | H1 2007 | Q2 2008 | Q2 2007 |
|---|---|---|---|---|
| Profit from operating activities | 157,978 | 60,642 | 132,928 | 30,730 |
| + Net income from participating interests | 173,190 | 98,502 | 77,112 | 62,500 |
| - Non-operating earnings | (+) 1,494 | (+) 644 | (+) 726 | (+) 530 |
| + Interest credited* | 23,527 | 15,995 | 13,535 | 10,095 |
| Operating earnings (EBITA) | 356,189 | 175,783 | 224,301 | 103,855 |
*The change in Group structure has resulted in an adjustment relating to the interest credit. Unlike in the previous year's published reports,
an interest credit is only recognized for the divisions within the Constructon module, i.e. HOCHTIEF Americas, HOCHTIEF Asia Pacific and
HOCHTIEF Europe.
Undiluted and diluted earnings per share
| (EUR thousand) | H1 2008 | H1 2007 | Q2 2008 | Q2 2007 |
|---|---|---|---|---|
| Consolidated net profit (EUR thousand) | 79,033 | 13,776 | 46,975 | 4,209 |
| Number of shares in circulation (weighted average) | 69947000 | 66061133 | 69947000 | 66434325 |
| Earnings per share | 1.13 | 0.21 | 0.67 | 0.06 |
Earnings per share can become diluted as a result of potential shares (mainly stock options and convertible bonds). HOCHTIEF's share-based
payment arrangements do not have a dilutive effect on earnings. Consequently, diluted and undiluted earnings per share are identical.
Responsibility Statement
To the best of our knowledge, and in accordance with the
applicable reporting principles for interim financial reporting,
the interim consolidated financial statements give a
true and fair view of the assets, liabilities, financial position
and profit or loss of the Group, and the interim management
report of the Group includes a fair review of the development
and performance of the business and the position
of the Group, together with a description of the
principal opportunities and risks associated with the expected
development of the Group for the remaining
months of the fiscal year.
Essen, August 5, 2008
The Executive Board Dr. Lütkestratkötter Ehlers Dr. Lohr Dr. Noé Dr. Rohr
