HOCHTIEF Services Division
| (EUR million) | Q1-Q3 2008 | Q1-Q3 2007 | Percentage change | Q3 2008 | Q3 2007 | Full Year 2007 |
|---|---|---|---|---|---|---|
| New orders | 538.9 | 425.1 | 26.8 | 126.8 | 195.1 | 892.6 |
| Work done | 509.5 | 406.4 | 25.4 | 180.1 | 150.4 | 582.3 |
| Order backlog | 1,622.7 | 952.2 | 70.4 | 1,622.7 | 952.2 | 1,602.2 |
| Divisional sales | 509.4 | 403.3 | 26.3 | 179.6 | 148.4 | 582.1 |
| External sales | 504.6 | 395.1 | 27.7 | 178.5 | 146.3 | 555.9 |
| Operating earnings (EBITA) | 16.3 | 13.6 | 19.9 | 6.1 | 5.2 | 22.0 |
| Profit before taxes | 13.1 | 12.6 | 4.0 | 5.0 | 4.8 | 20.4 |
| Capital expenditure | 5.3 | 3.2 | 65.6 | 2.2 | 0.3 | 16.5 |
| Net assets | 207.6 | 133.9 | 55.0 | 207.6 | 133.9 | 179.0 |
| Employees | 5,711 (End Q1-Q3 2008) |
4,710 (End Q1-Q3 2007) |
21.3 | 5,711 (End Q3 2008) |
4,710 (End Q3 2007) |
4,771 (2007 average) |
New orders were up by 26.8 percent over the previous year's figure to EUR 538.9 million, mainly due to extensions of contracts with existing clients in the quarter under review. One reason for the year-on-year increase is growth at HOCHTIEF Energy Management.
At EUR 509.5 million, work done exceeded the prior-year figure by a substantial 25.4 percent. In Germany, the main reason for this rise was the growing volume of additional work flowing from existing business. Internationally, the division continued to benefit from new contracts acquired last year, particularly the schools projects in the United Kingdom and sports facility projects in Greece. An additional factor in the year-on-year increase in work done is the acquisition in the energy management sector. External sales rose accordingly by 27.7 percent, and the order backlog was also up on the previous year's figure by a very healthy 70.4 percent.
At EUR 16.3 million, operating earnings jumped by 19.9 percent year on year. Despite further expansion activities, profit before taxes was slightly up on the previous year. This positive trend was largely attributable to the international business and energy management activities.
Last year's acquisition in the energy management sector was the main reason for the rise in net assets, which climbed by 55 percent year on year.
The number of employees rose to 5,711 mainly due to growth outside Germany as well as acquisitions. In the quarter under review, HOCHTIEF Facility Management impressively displayed its efficiency in implementing major supraregional projects.
For the next four years, HOCHTIEF Facility Management will be responsible for maintenance of the technical building systems in various terminals at Stuttgart Airport. As the provider of this service, we must adhere to special standards, since the technical systems are located in the high-security zone of the airport's arrivals and departures areas.
HOCHTIEF Facility Management was commissioned by property management company Mayfield to operate five shopping centers in Germany's eastern states. The properties have total retail space measuring 63,500 square meters. This contract represents an extension of our partnership with the Mayfield Group, which operates internationally. Among other projects, HOCHTIEF handles technical and infrastructural facility management at the Biopark Rosental research site in Basel, Switzerland, on behalf of this client.
Thanks to a contract extension, we are lending further strength to our position in the industrial services segment. We will continue to operate various Siemens sites in Germany for another six years. In early October, HOCHTIEF Facility Management signed a contract with Siemens Real Estate worth a total of EUR 192 million, thereby continuing the relationship with this long-time client.
