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Elefsina-Patras-Tsakona toll road, Greece From Athens via Patras, the second largest port in Greece, to Tsakona: The Elefsina-Patras-Tsakona toll road is one of the country’s most important traffic corridors. Part of the link on the northern coast of the Peloponnesian peninsula is being newly constructed, while existing segments are being widened. The consortium, in which HOCHTIEF PPP Solutions holds a 25 percent stake, is designing, financing and building the 365-kilometer freeway and will operate it until 2038. Among the partners in this venture to build the largest freeway project in the country is our sister company HOCHTIEF Construction. 54 Annual Report 2009 <strong>ONE</strong><strong>ROOF</strong> ALL SOLUTIONS
Employees • Staff development tools enhanced • Global vacancy management established • Safety at work increased • Number of trainees up Human resources strategy rigorously pursued HOCHTIEF’s success depends on the performance, qualifications and motivation of its employees in all corporate divisions. This is why we aim to retain the right employees for our company. We therefore identify talented individuals in Germany and internationally, secure them for HOCHTIEF and foster their continuous development. Our employees can count on our skills management tailored to individual capabilities and potential and ranging from the company’s training phase through to the development of new managers. Our growthoriented human resources strategy is a key element of our overall corporate strategy. Strategic response to shortage of specialist staff The need for skilled and management personnel in the construction industry continues to pose challenges for HOCHTIEF. These challenges can only be resolved with long-term approaches in human resources management. In 2009, we were primarily seeking employees for property services, project management, procurement as well as monitoring and control. We were also still in need of construction engineers for international assignments. Overall, we managed to fill more than 90 percent of the vacant positions within the HOCHTIEF Group. Increase in employee numbers The number of employees at HOCHTIEF rose to a total of 66,178 in 2009, with the Asia Pacific division recording the highest increase. In the USA, the number of employees dropped, reflect- ing the lower construction output. This development chiefly affected Turner, where jobs have been cut in a socially responsible manner, carefully allowing for proj- ❘ Information for our Shareholders ❘ ❘ Management Report ❘ ❘ Financial Statements and Notes ❘ ect requirements and specific conditions. In order to keep job losses to a minimum, employees were offered short and long-term transfers and Turner remains in constant contact with many of its former employees through its strategic alumni program*, so that when market conditions improve the company can consider them for employment once again. Global filling of vacant positions As a global group of companies, we have exacting demands and therefore require exceptionally well-qualified personnel. In order to fill vacant international positions in a selective manner with the most suitable internal or external specialist staff, we have set up the Global Recruitment department. This department makes sure that information is exchanged at an early stage in order to fill positions across national borders. Vacant positions and projects worldwide can be presented centrally and attractively on a new intranet platform. So far, the companies HOCHTIEF Construction, Turner, Flatiron and Thiess have been integrated. Retention programs successful For HOCHTIEF, retaining capable and talented employees in the company for the long term is a success factor. For this reason, an intern retention program was launched at the end of 2008 to retain above-average interns at the company. So far, eight out of ten interns supported on the basis of this program have been given employment contracts at HOCHTIEF. For employees specifically wishing to gain a further qualification through a doctorate, we offer a doctoral program. The participating students are released for study at the university for an agreed period, receive financial assistance for the duration of their studies, and are guaranteed a job at HOCHTIEF when they return. Our “Employees Recruit Employees” program also con- tinued to bear fruit, with new employees again being recruited in this way. This program rewards employees who propose a candidate with a bonus. Further information on our employees as well as occupational safety and health at HOCHTIEF is available on the Internet at www.hochtief.com under Career and Sustainability. *See glossary on page 197. Annual Report 2009 55
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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 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: meters of concrete and 142,000 squa
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
Page 95 and 96: The Elefsina-Patras-Tsakona toll ro
Page 97 and 98: HOCHTIEF Europe Division • Return
Page 99 and 100: essary work in the North Sea. With
Page 101 and 102: HOCHTIEF Real Estate Division • S
Page 103 and 104: Together with the Senator Group, th
Page 105 and 106:
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
Page 125 and 126:
Page 127 and 128:
Consolidated Statement of Earnings
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Consolidated Balance Sheet (EUR tho
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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
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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