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192 Annual Report 2009 Subsidiaries, Associates and Other Significant Participating Interests of the HOCHTIEF Group at December 31, 2009 I. Affiliates included in the Consolidated Financial Statements HOCHTIEF Americas Division Percentage stock held Shareholders’ equity Local currency (thousand) EUR thousand Profit/(loss) for the year (EUR thousand) HOCHTIEF Americas GmbH, Essen 100 547,336 – 1 The Turner Corporation, Dallas, USA 100 2 USD 501,862 348,373 45,881 3 Flatiron Construction Corp., Delaware, USA 100 2 USD 139,970 97,162 36,969 3 HOCHTIEF Asia Pacific Division HOCHTIEF Asia Pacific GmbH, Essen 100 1,126,040 – 1 Leighton Holdings Limited, Sydney, Australia 54.83 2 AUD 2,386,339 1,490,722 349,940 3 HOCHTIEF Concessions Division HOCHTIEF Concessions AG, Essen 100 191,170 – 1 HOCHTIEF AirPort HOCHTIEF AirPort GmbH, Essen 100 2 135,000 – 1 Airport Partners GmbH, Düsseldorf 40 2 140,665 19,451 HAP Hamburg Airport Partners GmbH & Co. KG, Hamburg 71 2 395,190 19,202 Sydney Airport Intervest GmbH, Essen 46.3 2 HOCHTIEF AirPort Capital Verwaltungs GmbH & Co. 262,738 18,581 KG, Essen 100 2 1,205 5,221 HOCHTIEF PPP Solutions HOCHTIEF PPP Solutions GmbH, Essen 100 2 32,352 – 1 HOCHTIEF PPP Solutions Chile Limitada, Santiago de Chile, Chile 100 2 HOCHTIEF PPP SOLUTIONS (UK) Limited, CLP 39,140,658 54,014 871 Swindon, UK 100 2 GBP 82 93 (1,696) HOCHTIEF Europe Division HOCHTIEF Construction AG, Essen 100 203,665 – 1 STREIF Baulogistik GmbH, Essen 100 2 31,659 – 1 DURST-BAU GmbH, Vienna, Austria 100 2 (1,095) 431 HOCHTIEF (UK) CONSTRUCTION Ltd., Swindon, UK 100 2 GBP 7,523 8,471 135 HOCHTIEF CZ a.s., Prague, Czech Republic 100 2 CZK 959,047 36,223 124 HOCHTIEF Polska S.A., Warsaw, Poland 99.96 2 PLN 128,492 31,306 13,172 OOO HOCHTIEF, Moscow, Russia 100 2 RUB 285,663 6,619 4,523 HOCHTIEF Construction Qatar W.L.L., Doha, Qatar 49 2 QAR 95,386 18,312 22,747 HOCHTIEF Real Estate Division Deutsche Bau- und Siedlungs-Gesellschaft mbH, Essen 100 17,490 – 1 HOCHTIEF Projektentwicklung GmbH, Essen 100 7,670 – 1 HOCHTIEF Aurestis Beteiligungsgesellschaft mbH, Essen 100 2 6,570 – 1 HOCHTIEF Services Division HOCHTIEF Facility Management GmbH, Essen 100 6,071 – 1 HOCHTIEF Energy Management GmbH, Essen 100 2 17,018 – 1
Corporate Headquarters ❘ Information for our Shareholders ❘ ❘ Management Report ❘ ❘ Financial Statements and Notes ❘ Percentage stock held Shareholders’ equity Local currency (thousand) EUR thousand Profit/(loss) for the year (EUR thousand) HOCHTIEF Insurance Broking and Risk Managment Solutions GmbH, Essen 100 779 – 1 Contractors’ Casualty & Surety Reinsurance Company S.A., Steinfort, Luxembourg 100 2 USD 11,564 8,027 3,463 Builders’ Credit Reinsurance Company S.A., Steinfort, Luxembourg 100 2 USD 6,000 4,165 1,602 II. Equity-method investments HOCHTIEF Concessions Division HOCHTIEF AirPort Budapest Airport Zrt., Budapest, Hungary 49.67 2 337,169 4 (13,963) 4 Flughafen Düsseldorf GmbH, Düsseldorf 50 2 146,924 4 39,561 4 Flughafen Hamburg GmbH, Hamburg 49 2 63,760 4 – 1 Athens International Airport S.A., Athens, Greece 26.67 2 431,693 4 117,307 4 Tirana International Airport SHPK, Tirana, Albania 47 2 30,068 4 8,035 4 HOCHTIEF PPP Solutions HERRENTUNNEL LÜBECK GmbH & Co. KG, Lübeck 50 2 (4,958) 4 (1,591) 4 Sociedad Concesionaria Autopista Vespucio Norte Express S.A., Santiago de Chile, Chile 17.95 2 CLP 65,331,845 4 90,158 4 1,107 4 Sociedad Concesionaria Túnel San Cristóbal S.A., Santiago de Chile, Chile 50 2 CLP 7,762,657 4 10,712 4 865 4 HOCHTIEF Real Estate Division aurelis Real Estate GmbH & Co. KG, Eschborn 50 2 91,709 4 19,527 4 III. Other companies HOCHTIEF Concessions Division HOCHTIEF AirPort Southern Cross Airports Corporation Holdings Limited, Sydney, Australia 13.27 2 AUD 1,218,590 4 761,241 4 109,770 4 1 Profit/loss transfer agreement 2 Indirect shareholding 3 Consolidated result for group 4 Fiscal 2008 figures Annual Report 2009 193
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HOCHTIEF Annual Report 2009 ONEROOF
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Our Company at a Glance in 2009 HOC
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Turning Vision into Value HOCHTIEF
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❘ Information for our Shareholder
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us: For instance, Leighton was awar
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A major topic relating to the HOCHT
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esolutions regarding the Executive
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Executive Board Dr.-Ing. Herbert L
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One focus of corporate governance a
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Executive Board compensation also i
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Supervisory Board compensation tion
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Indexed performance of HOCHTIEF sto
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Regional distribution (as of Decemb
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with the goal of improving an airpo
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HOCHTIEF Concessions Division: Conc
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Our global presence HOCHTIEF worldw
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*For further information, please se
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The economic crisis will continue t
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and communications. The weak infras
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This sustained growth will be affec
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Internationally, new orders fell by
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Strategy • Successful corporate s
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we bring together our experts for t
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Our cross-divisional competence cen
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stones of this consulting service i
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meters of concrete and 142,000 squa
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Employees • Staff development too
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market in the USA. Turner currently
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In our global procurement network,
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HOCHTIEF Group performance The HOCH
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Value Added • Net value added con
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Financial Review • Strong year-on
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The EUR 15 million negative amount
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to the emerging challenges of the f
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Further loans are in place on a loc
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y Leighton. Other non-current liabi
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HOCHTIEF Aktiengesellschaft Stateme
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als. Section 23 (1) of the Articles
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of parties acting in concert, acqui
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provided on appointment and replace
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Segment Reporting Synergies boost s
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delphia. The project is worth appro
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jet parking areas. The project will
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Project highlights in Australia Ser
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The new contract is worth approxima
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Budapest Airport HOCHTIEF AirPort s
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The Elefsina-Patras-Tsakona toll ro
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HOCHTIEF Europe Division • Return
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essary work in the North Sea. With
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HOCHTIEF Real Estate Division • S
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Together with the Senator Group, th
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unified and optimized. The associat
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HOCHTIEF Services Division • Exis
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2009. HOCHTIEF Energy Management wi
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Risk Report • Group-wide early wa
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Execution Ausführungsaudit Audit E
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Fiscal year 2010 will be shored up
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HOCHTIEF works with first-rate cert
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Investing in sustained growth Our c
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which was established in 2008, is a
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Consolidated Statement of Earnings
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Consolidated Balance Sheet (EUR tho
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[Independent] Auditors’ Report We
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As in the prior year, the Consolida
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Property, plant and equipment is st
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The POC method is used primarily in
Page 141 and 142: value initially recognized in equit
Page 143 and 144: The remaining new or amended standa
Page 145 and 146: IFRIC 17 Distributions of Non-cash
Page 147 and 148: 6. Other operating expenses (EUR th
Page 149 and 150: 9. Income taxes 2009 2008 (EUR thou
Page 151 and 152: Impairment losses of EUR 64,000 (20
Page 153 and 154: Impairment losses of EUR 58,000 (20
Page 155 and 156: Associates The following tables sho
Page 157 and 158: 17. Other receivables and other ass
Page 159 and 160: The figure of EUR 1,422,095,000 (20
Page 161 and 162: As of December 31, 2009, HOCHTIEF A
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Page 165 and 166: The quantities of SARs and stock aw
Page 167 and 168: Investing plan assets to cover futu
Page 169 and 170: The effects of a one percentage poi
Page 171 and 172: Sundry other financial liabilities
Page 173 and 174: Maximum payments as of December 31,
Page 175 and 176: Management of interest rate risk HO
Page 177 and 178: The following sensitivity analyses
Page 179 and 180: The impairments in trade receivable
Page 181 and 182: 2008 (EUR thousand) Available for s
Page 183 and 184: The EUR 9,600,000 gains are include
Page 185 and 186: 35. Segment reporting Segmental rep
Page 187 and 188: Profit/(loss) from operating activi
Page 189 and 190: All non-cash income and expense and
Page 191: The fees for services provided in G
Page 195 and 196: Supervisory Board Committees Nomina
Page 197 and 198: Glossary Alumni program The alumni
Page 199 and 200: Our five year summary Five Year Sum
Page 201 and 202: Publication Details and Credits Pub
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