ONE ROOF

Glossary
Alumni program
The alumni program at our US subsidiary Turner targets
former employees who have worked for the company for
some time and have reached further training levels there.
The aim of the program is to maintain contact to highly
qualified employees—for example, to re-recruit them when
market conditions improve.
Asset management
Asset management means all activities involved in managing
buildings and properties. This includes rent accounting,
tenant administration, utility billing and support, systems
maintenance, energy management, coordinating repairs
and refurbishing, as well as short-to-medium-run planning
of all cash flows relating to the property.
BOOT concession
Under a build-own-operate-transfer (BOOT) concession,
the company builds then owns and operates a project for
a contractually agreed period before transferring it back to
the customer.
Cash flow
One of the key figures used to assess a company’s financial
position. Represents the net inflow of funds from sales
and other operating activities.
Cofferdam system
A system which provides a dry enclosure in water for foundation
work on bridges and other structures.
Construction management at fee
An approach to project management where the construction
manager advises the client and, during the design and
build phases, provides services for a fee such as administration,
construction planning and progress monitoring.
The construction manager has little or no financial involvement
in the project.
Contract mining
In contract mining, a mine owner contracts out certain
operations to a service provider. HOCHTIEF’s Australian
subsidiary Leighton extracts commodities such as ores
and coal under long-term contract to mine owners. Its
services also include mine development and renaturalization
after mine closure.
Core real estate
Core real estate consists of high-value properties, usually
in prime locations and consequently fully rented out for the
foreseeable future to reliable clients of strong credit standing.
Debt issuance program (DIP)
Contractual framework/model documentation for domestic
and international debt issues. The debt issuance program
can be deployed as a flexible revolving financing instrument
and is used for long-term borrowing on public
capital markets.
Euroconstruct countries
The Euroconstruct countries are a group of 19 countries—15
in Western and four in Eastern Europe—where the development
of regional construction markets is monitored on a
regular basis. The countries covered are Austria, Belgium,
the Czech Republic, Denmark, Finland, France, Germany,
Hungary, Ireland, Italy, the Netherlands, Norway, Poland,
Portugal, Slovakia, Spain, Sweden, Switzerland and the
UK.
Facility
Provision by a bank of cash or guarantees up to a stipulated
maximum.
Financial covenants
Financial indicators which are negotiated with a loan and
with which the borrower is required to comply.
German Sustainable Building Council (DGNB)
The German Sustainable Building Council and the German
Federal Ministry of Transport, Building and Urban Development
(BMVBS) have developed the German Sustainable
Building Certificate. DGNB trains auditors who award the
certificate in gold, silver or bronze. It is the German chapter
of the World Green Building Council.
Issuer
An issuer of securities is a company in the case of shares
and a company, public body, the state or other institution
in the case of bonds.
Further terms and explanations
are provided in the Investor
Relations section of the
HOCHTIEF website,
www.hochtief.com. Here, you
will find a detailed glossary.
Annual Report 2009 197