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<strong>ONE</strong><strong>ROOF</strong> ALL SOLUTIONS Budapest Airport, Hungary An airport’s energy consumption is roughly comparable to that of a small city. Managing that energy carefully translates directly into saving money— and protecting the environment. In the year under review, we analyzed energy use at Budapest Airport, which is part of the HOCHTIEF Concessions portfolio. Our goal: a longranging reduction in energy and hot water costs. In order to pool the HOCHTIEF Group’s know-how, we assembled an excellence team: Specialists from the Group companies HOCHTIEF AirPort, HOCHTIEF Energy Management, HOCHTIEF Facility Management, HOCHTIEF Construction and HOCHTIEF Consult have developed a comprehensive concept to cut operating costs over the long term. We are now making our successful “Sustainable Energy and Heating Concept” available to other airports. That’s how we harness our collective expertise to create individu alized and sustainable solutions.
Strategy • Successful corporate strategy pursued further • End-to-end life cycle management broadened • Product and service range continually expanded • Financial policy secures leeway for new projects HOCHTIEF is an international construction services provider ranking among the world’s leading suppliers in this industry. Our portfolio includes the development, construction, services and concessions and operation modules. They enable us to provide integrated solutions at every link in the life cycle of infrastructure projects, real estate and facilities. Our clients benefit from solutions individually tailored to their projects. We offer both modular services and one-stop shopping for endto-end solutions. There is no other company in the construction industry with a more extensive international reach than HOCHTIEF. We are thus able to provide our services worldwide and balance out within the Group the effects of economic ups and downs in individual regions. Our activities throughout the entire HOCHTIEF Group are based on our vision: “HOCHTIEF is building the future.—Along with our partners, we expand horizons, link people and organizations, create new ways to think and act, and continually enhance the values entrusted to our care.” Our vision will continue to point the way for HOCHTIEF in the future. Our Group strategy includes the following elements: Focus on growth markets We focus on promising growth markets and develop our business in regions with strongly expanding economies. After a series of strategic acquisitions in recent years, we concentrated on organic growth in 2009. For instance, we strengthened our position as a reliable outsourcing partner and in 2009 again acquired several facility management units from our clients, including two divisions of Honeywell Building Solutions in Germany integrated by HOCHTIEF Facility Management. ❘ Information for our Shareholders ❘ ❘ Management Report ❘ ❘ Financial Statements and Notes ❘ Our products and services Development This module encompasses real estate development, from planning and finance all the way to marketing, either as individual offerings or an all-in package. Construction This module comprises traditional construction operations as well as construction management in the areas of building, civil engineering and infrastructure development. Services The services module covers services in the pure sense, such as construction planning, logistics, asset management*, facility management, energy management, property management and insur- ance. Construction management at fee** is also included. Concessions and operation Development Services Construction All modules of the product and service portfolio are closely interlocked. Concessions and operation Included here are all activities aimed chiefly at managing business processes. This notably covers airports as well as our public-private partnership projects such as roads and public buildings. Contract mining***, with its focus on operation, is also assigned to this module. *See glossary on page 197. **See glossary on page 197. ***See glossary on page 197. Annual Report 2009 45
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 and 32: ❘ Information for our Shareholder
Page 33 and 34: Our global presence HOCHTIEF worldw
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: Internationally, new orders fell by
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
Page 87 and 88: jet parking areas. The project will
Page 89 and 90: Project highlights in Australia Ser
Page 91 and 92: The new contract is worth approxima
Page 93 and 94: 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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❘ Information for our Shareholder
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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
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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
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Publication Details and Credits Pub
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