BERLIN (dpa-AFX) - Hochtief AG (HOCFF.PK), a German construction firm, reported Monday higher profit in its first quarter with a one-time gain as well as strong growth in revenues.
On the XETRA in Germany, HOCHTIEF shares were gaining around 2.4 percent to trade at 160.50 euros.
In the first quarter, nominal net profit surged 131.8 percent to 307.8 million euros from last year's 132.8 million euros. Earnings per share were 4.09 euros, up from 1.77 euros a year ago.
The latest results included a 146 million euros one-off non-cash gain from Flatiron transaction.
HOCHTIEF's operational net profit was 166.8 million euros or 2.22 euros per share, compared to 142.2 million euros or 1.89 euros per share in the prior year.
Group sales for the first three months of the year increased 32% to 8.92 billion euros from 6.76 billion euros last year, mainly driven by strong organic revenue growth.
New orders grew 23.3% year-over-year to 12.96 billion euros.
Order backlog was 70.2 billion euros, up 20% from the prior year.
Looking ahead, HOCHTIEF continues to expect fiscal 2025 operational net profit of between 680 million euros and 730 million euros, which represents an increase of up to 17% compared with last year.
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