The Hochtief executive board is now anticipating the group’s profit before taxes from our operating business to be slightly less than €550m (£460m). Consolidated net profit will come in at just under €180m.
Figures were previously expected to be slightly below the record levels set in 2010. In that year, profit before taxes amounted to €757m and consolidated net profit to €288m.
In its updated forecast, Hochtief reiterates its guidance for new orders, the order backlog, and sales.
The adjustments at Leighton are due to a further deterioration in earnings on the Airport Link road project in Brisbane and at the Victorian Desalination Plant. Both projects are scheduled to be completed this year.
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