Accounting policies
The Consolidated Financial Statements as of March 31,
2009 are prepared in accordance with International Financial
Reporting Standards (IFRS) as adopted by the EU.
The Interim Financial Statements and the Interim Management
Report have been neither audited nor reviewed.
This quarterly report is based on the Consolidated Financial
Statements as of and for the year ending December
31, 2008. This report has been prepared using the same
accounting policies as the 2008 Consolidated Financial
Statements. Information on those accounting policies is
given in the 2008 Annual Report. All prior-year figures are
calculated on the same basis.
Consolidation changes
There were no changes in the composition of the consolidated
Group in the first three months of fiscal 2009. The
Consolidated Financial Statements include HOCHTIEF
Aktiengesellschaft and a total of 58 domestic and 340 foreign
consolidated companies plus 15 domestic and 101
foreign companies accounted for using the equity method.
Own shares
As of March 31, 2009, HOCHTIEF Aktiengesellschaft held
a total of 3,499,753 shares of treasury stock. These shares
were purchased over the course of fiscal 2008. 31,753 of
the Company's own shares were purchased in order to offer
them for purchase by persons in the Company's employment
or the employment of an affiliate. 3,468,000 of the
Company's own shares were purchased for the purposes
provided for in the resolution of the General Shareholders'
Meeting of May 8, 2008. These shares represent EUR
8,959,368 (4.9996 percent) of the Company's capital stock.
Contingent liabilities
The contingent liabilities relate to liabilities under guarantees
and letters of comfort; they have increased since December
31, 2008 by EUR 2,160,000 to EUR 29,801,000.
Segment reporting
Segmental reporting in the HOCHTIEF Group is based on
the Group's divisional operations. The breakdown by divisions
and regions mirrors the Group's internal reporting
systems. Detailed information on the various segments
making up the HOCHTIEF Group is provided herein in the
Interim Management Report.
Related party disclosures
There has been no change in the companies and individuals
comprising related parties of HOCHTIEF Aktiengesellschaft
and HOCHTIEF Group companies. The information
provided in this regard in the notes to the most recent Consolidated
Financial Statements therefore continues to apply.
No material transactions were entered into during the period
under review between HOCHTIEF Aktiengesellschaft or
any HOCHTIEF Group company and any related party or
parties having material influence over the results of operations
or financial condition of the Company or the Group.
