Reconciliation of profit from operating activities to operating earnings (EBITA)
Undiluted and diluted earnings per share
*In connection with the change in the Group’s structure, interest credited on the average financing balance—a purely statistical item—is no longer included as a separate item in the reconciliation as it has ceased to be material and as such its separate disclosure is no longer required. Operating earnings (EBITA) for the first half of the prior year is reduced as a result by EUR 5,079,000 to EUR 391,158,000 and for the second quarter of 2010 by EUR 4,754,000 to EUR 239,207,000. For the prior year, 2010, as a whole, operating earnings is reduced by EUR ,808,000 to EUR 947,527,000.
Earnings per share can become diluted as a result of potential shares (mainly
stock options and convertible bonds). HOCHTIEF’s share-based
payment arrangements do not have a dilutive effect on earnings. Consequently,
diluted and undiluted earnings per share are identical.
Responsibility StatementTo the best of our knowledge, and in accordance with the applicable reporting principles for interim financial reporting, the interim consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the interim management report of the Group includes a fair review of the development and performance of the business and the position of the Group, together with a description of the material opportunities and risks associated with the expected development of the Group for the remaining months of the fiscal year. Essen, August 3, 2011 The Executive Board Dr. Stieler Dr. Lohr Dr. Rohr This document contains forward-looking statements. These statements reflect the current views, expectations and assumptions of the Executive Board of HOCHTIEF Aktiengesellschaft and are based on information currently available to the Executive Board of HOCHTIEF Aktiengesellschaft. Such statements involve risks and uncertainties and do not guarantee future results (such as profit before tax or consolidated net profit) or developments (such as with regard to possible future divestments, general business activities or business strategy). Actual results (such as profit before tax or consolidated net profit), dividends and other developments (such as with regard to possible future divestments, general business activities or business strategy) relating to HOCHTIEF Aktiengesellschaft and the HOCHTIEF Group may therefore differ materially from the expectations and assumptions described in such statements due to, among other things, changes in the general economic, sectoral and competitive environment, capital market developments, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, the conduct of other shareholders, and other factors. Aside from statutory publication obligations, HOCHTIEF Aktiengesellschaft does not assume any obligations to update any forward-looking statements. |
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