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32 Annual Report 2009 Combined Company and Group Management Report Group structure and business activities Corporate Headquarters (management holding company) Control level (corporate centers) Service level HOCHTIEF Insuran ce Broking and Risk Management Solutions GmbH HOCHTIEF ViCon GmbH HOCHTIEF Americas Divisions HOCHTIEF Asia Pacific HOCHTIEF Concessions Control and service levels integrated into Group structure The HOCHTIEF Group comprises six operating divisions. The management holding company has a control and a service level. The control level—the Executive Board and the Group’s corporate centers—is responsible for the strategic and organizational development of HOCHTIEF Aktiengesellschaft. The corporate centers are Global Procurement, Controlling, Finance/Investor Relations, Human Resources, Accounting, Legal, Auditing, Tax, Corporate Development, Corporate Communications, Insurance Management and Corporate Governance/Compliance. The serv ice level brings together a range of ancillary functions for the Group as a whole, with Service Center units providing support in communications, accounting, legal, tax and other matters. The occupational safety, health and environmental protection competence center OSHEP is also part of the service level. Our two companies HOCHTIEF Insurance Broking and Risk Management Solutions and HOCHTIEF ViCon are likewise directly owned by HOCHTIEF Aktiengesellschaft. Their task is to develop and implement trailblazing solutions in order to generate further added value for the Group. HOCHTIEF Europe HOCHTIEF Real Estate HOCHTIEF Services HOCHTIEF Insurance Broking and Risk Management Solutions HOCHTIEF Insurance Broking and Risk Management Solutions offers insurance services spanning the entire life cycle of infrastructure projects, real estate and facilities before, during and after construction. The brokerage insures project risks across the Group—for example, covering construction work on infrastructure projects, real estate and facilities. This service is not restricted to Group companies but is also available to third parties— notably those involved in a project. For the period after the end of the construction phase, clients, owners and end users can purchase cover for risks such as fire and business interruption. HOCHTIEF Insurance’s portfolio is rounded out with reinsurance services used mainly by the HOCHTIEF Americas division. This includes insurance for construction work, subcontractor default and liability risks. Our insurance activities not only allow us to cut insur ance costs in that HOCHTIEF covers calculable risks itself. HOCHTIEF Insurance also brings in additional revenue and earnings by writing business with outside partners.
Our global presence HOCHTIEF worldwide: A selection of our divisions’ numerous subsidiaries and associates underscores HOCHTIEF’s global HOCHTIEF Americas Turner (USA) Flatiron (USA, Canada) HOCHTIEF do Brasil (Brazil) FLATIRON FLATIRON HOCHTIEF Asia Pacific Leighton Holdings (Australia) Leighton Contractors (Aus tralia, New Zealand) Thiess (Australia, India, Indonesia) John Holland Group (Australia) Leighton International (Brunei, India, Malaysia, Qatar, Singapore, Sri Lanka, United Arab E m i r a t e s ) Leighton Properties ( Australia) Leighton Asia (Cambodia, Hong Kong, Indonesia, Laos, Macau, Mongolia, Philippines, Thailand, Vietnam) Al Habtoor Engineering (United Arab Emirates, Qatar) HOCHTIEF Concessions HOCHTIEF Concessions (Germany) HOCHTIEF AirPort (Germany) HOCHTIEF AirPort Capital (Germany) HOCHTIEF AirPort Retail (Albania) HOCHTIEF PPP Solutions (Canada, Chile, Germany, Greece, Ireland, UK, USA) HOCHTIEF PPP Schools Capital (UK) Transport & Logistics Consultancy (UK) DURST-BAU LEIGHTO N Geschäftsbericht 2008 33
Page 1 and 2: HOCHTIEF Annual Report 2009 ONEROOF
Page 3 and 4: Our Company at a Glance in 2009 HOC
Page 5 and 6: Turning Vision into Value HOCHTIEF
Page 7 and 8: ❘ Information for our Shareholder
Page 9 and 10: us: For instance, Leighton was awar
Page 11 and 12: A major topic relating to the HOCHT
Page 13 and 14: esolutions regarding the Executive
Page 15 and 16: Executive Board Dr.-Ing. Herbert L
Page 17 and 18: One focus of corporate governance a
Page 19 and 20: Executive Board compensation also i
Page 21 and 22: Supervisory Board compensation tion
Page 23 and 24: Indexed performance of HOCHTIEF sto
Page 25 and 26: Regional distribution (as of Decemb
Page 27 and 28: with the goal of improving an airpo
Page 29 and 30: HOCHTIEF Concessions Division: Conc
Page 31: ❘ Information for our Shareholder
Page 35 and 36: *For further information, please se
Page 37 and 38: The economic crisis will continue t
Page 39 and 40: and communications. The weak infras
Page 41 and 42: This sustained growth will be affec
Page 43 and 44: Internationally, new orders fell by
Page 45 and 46: Strategy • Successful corporate s
Page 47 and 48: we bring together our experts for t
Page 49 and 50: Our cross-divisional competence cen
Page 51 and 52: stones of this consulting service i
Page 53 and 54: meters of concrete and 142,000 squa
Page 55 and 56: Employees • Staff development too
Page 57 and 58: market in the USA. Turner currently
Page 59 and 60: In our global procurement network,
Page 61 and 62: HOCHTIEF Group performance The HOCH
Page 63 and 64: Value Added • Net value added con
Page 65 and 66: Financial Review • Strong year-on
Page 67 and 68: The EUR 15 million negative amount
Page 69 and 70: to the emerging challenges of the f
Page 71 and 72: Further loans are in place on a loc
Page 73 and 74: y Leighton. Other non-current liabi
Page 75 and 76: HOCHTIEF Aktiengesellschaft Stateme
Page 77 and 78: als. Section 23 (1) of the Articles
Page 79 and 80: of parties acting in concert, acqui
Page 81 and 82: provided on appointment and replace
Page 83 and 84:
Segment Reporting Synergies boost s
Page 85 and 86:
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
Page 99 and 100:
essary work in the North Sea. With
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HOCHTIEF Real Estate Division • S
Page 103 and 104:
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
Page 115 and 116:
Fiscal year 2010 will be shored up
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HOCHTIEF works with first-rate cert
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❘ Information for our Shareholder
Page 121 and 122:
Investing in sustained growth Our c
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which was established in 2008, is a
Page 125 and 126:
Page 127 and 128:
Consolidated Statement of Earnings
Page 129 and 130:
Consolidated Balance Sheet (EUR tho
Page 131 and 132:
Page 133 and 134:
[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
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value initially recognized in equit
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The remaining new or amended standa
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IFRIC 17 Distributions of Non-cash
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6. Other operating expenses (EUR th
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9. Income taxes 2009 2008 (EUR thou
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Impairment losses of EUR 64,000 (20
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Impairment losses of EUR 58,000 (20
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Associates The following tables sho
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17. Other receivables and other ass
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The figure of EUR 1,422,095,000 (20
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As of December 31, 2009, HOCHTIEF A
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Top Executive Retention Plan 2004 T
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The quantities of SARs and stock aw
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Investing plan assets to cover futu
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The effects of a one percentage poi
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Sundry other financial liabilities
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Maximum payments as of December 31,
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Management of interest rate risk HO
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The following sensitivity analyses
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The impairments in trade receivable
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2008 (EUR thousand) Available for s
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The EUR 9,600,000 gains are include
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35. Segment reporting Segmental rep
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Profit/(loss) from operating activi
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All non-cash income and expense and
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The fees for services provided in G
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Corporate Headquarters ❘ Informat
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Supervisory Board Committees Nomina
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Glossary Alumni program The alumni
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Our five year summary Five Year Sum
Page 201 and 202:
Publication Details and Credits Pub
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