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Strong operational net profit growth of 35% year-on-year (yoy) to EUR 480 million
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Sales increased 10% to EUR 20.1 billion
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Outstanding operating cash flow of EUR 2.4 billion in last 12 months (LTM) pre-factoring, up EUR 396 million
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Strong improvement in net cash position of EUR 1.5 billion following dividend payment of EUR 393 million
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Strong and sustained growth in new orders of EUR 31.5 billion, up 25% foreign exchange-adjusted (fx-adj)
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Record order backlog of EUR 84.8 billion, up 23% yoy
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2026 operational net profit guidance increased to EUR 1,025 million-EUR 1,100 million, up 30 to 40% (previously: EUR 950-1,025 million, +20-30%)
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Turner 2026 operational profit before tax guidance increased to US$1,400 million to US$1,460 million, up 35% to 40%
HOCHTIEF has increased its 2026 profit guidance after reporting strong first-half growth in profit, cash flow and new orders, supported by demand for digital infrastructure, energy and defense projects and resource-related work.
The Group now expects operational net profit of EUR 1,025 million to EUR 1,100 million in 2026, an increase of 30% to 40% on the previous year, subject to market conditions. At Turner, the outlook for 2026 operational profit before tax is US$1,400 to US$1,460 million, an increase of 35% to 40%.
Operational net profit for the six months to June 30 rose 35% to EUR 480 million, while sales increased 10% to EUR 20.1 billion. New orders climbed 25% fx-adj to EUR 31.5 billion and the order backlog reached a record EUR 84.8 billion, providing around two years of revenue visibility.
The result reflects continued demand for advanced infrastructure projects, particularly in digital infrastructure, energy, defense and critical minerals. Approximately 60% of new orders were generated from strategic growth markets.
ACS Group and HOCHTIEF Chief Executive Officer Juan Santamaría said HOCHTIEF entered the second half of the year with strong momentum.
“We're seeing sustained demand for the infrastructure that supports economic growth, particularly data centers, energy, defense and critical minerals projects. Our strategic focus on these markets is translating into strong growth in new work, with a record backlog across our business. What increasingly sets us apart is the way our companies work together, combining capabilities from across the Group to support clients through multiple stages of an asset's lifecycle.”
HOCHTIEF generated operating cash flow of EUR 2.4 billion over the last 12 months before factoring, up EUR 396 million yoy. Net operating cash flow rose to EUR 1.7 billion over the same period, supported by continued working capital discipline.
The Group’s balance sheet remained strong during the period. Net cash showed a strong improvement of EUR 1.5 billion yoy, following the dividend payment of EUR 393 million, due to outstanding cash flow performance.
The company's order book continues to be supported by strong growth in large-scale digital infrastructure projects. Total data center orders more than doubled over the last 12 months, with recent awards including major projects in North America and Europe.
The record EUR 84.8 billion order backlog was 23% higher than a year earlier and reflects growth across HOCHTIEF's core markets in North America, Australia and Europe. New orders were equivalent to 1.5 times work completed during the period.
