HOCHTIEF Half-Year Report January to June 2011 / Interim Financial Statements

HOCHTIEF Half-Year Report January to June 2011

To Our Shareholders
Interim Management Report
Interim Financial Statements
Responsibility Statement
Financial Calendar

and other assets and other assets

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Interim Financial Statements (Condensed)

Consolidated Statement of Earnings

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(EUR thousand)	H1 2011	H1 2010	Percentage change	Q2 2011	Q2 2010	Full year 2010
Sales	10,374,977	9,525,548	8.9	5,455,683	5,077,507	20,159,286
Changes in inventories	1,382	49,924	-97.2	(43,662)	30,039	154,350
Other operating income	221,304	97,418	127.2	147,530	60,435	478,756
Materials	(7,181,285)	(6,345,876)	13.2	(3,561,120)	(3,428,868)	(13,763,981)
Personnel costs	(2,193,880)	(1,950,128)	12.5	(1,110,727)	(910,442)	(4,080,859)
Depreciation and amortization	(333,767)	(398,237)	-16.2	(143,235)	(240,340)	(678,543)
Other operating expenses	(777,119)	(656,120)	18.4	(398,399)	(327,856)	(1,553,665)
Profit from operating activities	111,612	322,529	-65.4	346,070	260,475	715,344
Share of profits and losses of equity-method associates and jointly controlled entities	(511,765)	53,029	–	(330,373)	(26,440)	189,820
Net income from other participating interests	44,106	12,275	259.3	32,541	1,847	32,885
Investment and interest income	53,958	34,533	56.3	38,401	18,012	81,564
Investment and interest expenses	(132,495)	(120,780)	9.7	(76,435)	(72,855)	(263,041)
Profit before taxes	(434,584)	301,586	–	10,204	181,039	756,572
Income taxes	108,059	(101,457)	–	2,407	(62,885)	(210,294)
Profit after taxes	(326,525)	200,129	–	12,611	118,154	546,278
Of which: Consolidated net profit/(loss)	[(155,632)]	[88,126]	–	[13,844]	[54,050]	[288,030]
Of which: Minority interest	[(170,893)]	[112,003]	–	[(1,233)]	[64,104]	[258,248]

Earnings per share (EUR)
Diluted and undiluted earnings per share (EUR)	(2.12)	1.32	–	0.19	0.81	4.31

Consolidated Balance Sheet

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(EUR thousand)

June 30, 2011	Dec. 30, 2010
	Intangible assets
Property, plant and equipment
Investment properties
Equity-method investments
Other financial assets
Financial receivables
Other receivables
Deferred tax assets

Current assets
Inventories
Financial receivables
Trade receivables
Other receivables
Current income tax assets
Marketable securities
Cash and cash equivalents

px;"> 24A94;">Assets
Non-current assets

581,445

582,879

2,183,533

1,807,472

23,739

24,010

1,696,578

2,005,642

460,736

505,088

807,566

506,757

113,780

176,072

366,502

260,555

6,233,879

5,868,475

1,608,184

1,268,333

146,113

144,339

4,280,683

3,984,763

189,143

232,420

113,924

99,058

428,123

937,640

1,937,678

2,451,057

8,703,848

9,117,610

14,937,727

14,986,085

(EUR thousand)	June 30, 2011	Dec. 31, 2010
Liabilities and Shareholders’ Equity Shareholders’ equity
Attributable to the Group	2,542,518	2,965,493
Minority interest	1,295,985	1,298,679
	3,838,503	4,264,172
Non-current liabilities
Provisions for pensions and similar obligations	105,331	116,566
Other provisions	408,529	426,850
Financial liabilities	2,022,323	2,576,954
Other liabilities	165,222	186,359
Deferred tax liabilities	69,785	66,005
	2,771,190	3,372,734
Current liabilities
Other provisions	830,699	959,553
Financial liabilities	1,189,775	645,766
Trade payables	5,918,242	5,363,733
Other liabilities	386,711	363,263
Current income tax liabilities	2,607	16,864
	8,328,034	7,349,179
	14,937,727	14,986,085