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Q1: Hochtief increases Net Profit by 40%

  • EUR 93 million operational net profit (+30% year on year), EUR 88 million nominal net profit (+40%)
    • Operational PBT margin at 3.8%, +20 bps yoy
  • Over EUR 100 million year on year improved net cash from op. activities
    • EBITDA cash conversion rate remains very high at 108% in last twelve months
    • Further reduction in seasonally typical cash outflow
  • EUR 341 million net cash position significantly positive (+ EUR 317 million yoy)
    • Net cash would stand at approximately EUR 1 billion, if adjusted for net investments and dividends in the last twelve months
  • EUR 45 billion order backlog (+23% yoy)
    • Order backlog at highest level since transformation initiated; +13% yoy excluding UGL
    • All divisions show double-digit yoy increases in order backlog
    • New orders rose to EUR 7.4 billion (+18% yoy)
  • First rating for the Group: BBB investment grade by Standard & Poor’s
  • Guidance confirmed: Operational net profit for 2017 of EUR 410–450 million (+13% to 25% yoy)
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SMT Scharf Earnings up in FY 2016

SMT Scharf AG (WKN 575198, ISIN DE0005751986) improved its operating earnings by 8.7% to EUR 2.5 million in the fiscal year elapsed (2015: EUR 2.3 million). As expected at the start of 2016, revenue of EUR 42.6 million was tangibly below the previous year's level (2015: EUR 50.3 million). The Group achieved an EBIT margin of 5.9% (2015: 4.6%) on total operating revenue of EUR 42.2 million (2015: EUR 50.0 million). At the bottom line, SMT Scharf achieved a further year-on-year improvement in consolidated net income to EUR 1.9 million (2015: EUR 1.5 million).

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Bauer AG's nine-month Figures behind Expectations

  • Total Group revenues are down by 4.1 % to EUR 1,146.3 million;
  • EBIT improves by 4.4 % to EUR 38.0 million (previous year: EUR 36.4 million); Earnings after tax are EUR -4.0 million (previous year: EUR -2.7 million).
  • The order backlog remains stable at a high level of EUR 1,019.0 million
  • The full-year forecast has been corrected.
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SMT Scharf boosts Profitability on reduced Revenue

SMT Scharf AG is reporting a considerable improvement in its operating results during the first months of the current fiscal year. The declining revenue trend at the start of the year stabilised in the third quarter, reflecting robust service business offsetting reductions in new equipment business.

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K+S Group: Revenues and Earnings down significantly as expected

  • Revenues: 9M: € 2.5 billion (9M/15: € 3.2 billion) / Q3: € 688 million (9M/15: € 891 million)
  • EBIT I: 9M: € 202 million (9M/15: € 628 million) / Q3: € -31 million (9M/15: € 132 million)
  • Lower price level particularly in the Potash and Magnesium Products business unit
  • Production limitations due to restricted deep-well injection permit at Werra plant
  • Outlook: EBIT I between € 200 million and € 260 million in 2016
  • Legacy: Replacement of the damaged process vessel has started; first tonne in the second quarter of 2017
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Boliden’s Q3: Strong Earnings and high Mine Production

Boliden’s third quarter was primarily characterised by improvements in metal prices and high production in Mines. Revenues for the period totalled SEK 9,733 m (9,764) and the operating profit, excluding revaluation of process inventory, improved to SEK 1,318 m (1,055). The free cash flow was negatively affected by higher stock levels and totalled SEK 91 m (953).

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National Geographic showcases Abu Dhabi's Tunnel Enhancement STEP Project

The construction of the Abu Dhabi Deep Sewer Tunnel, one of the deepest gravity tunnels in the world, as explored in a documentary by National Geographic. Shown on September 5th at a premier event in the auditorium of the Emirates Palace in Abu Dhabi, "Megastructures: Abu Dhabi Super Tunnel" describes in detail the Strategic Tunnel Enhancement Programme (STEP), which was completed in 2014.

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Vanadium: Closure at Highveld to result in Supply-side Changes

  • Roskill has released its new vanadium market report with forecasts out to 2026.

Production of vanadium feedstock peaked in 2013 and has since declined year-on-year.  The drop in supply is mainly a reflection of lower demand in 2014 and 2015, although more structural changes to supply-side market dynamics have also had an impact.  

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Strabag SE with better Earnings after six Months of 2016

  • Output volume of € 5.7 billion after six months, 8 % below the very high figure of the previous year
  • Order backlog up 4 % to € 15.4 billion
  • EBIT – even when adjusted for a non-operating profit – up 29 %; seasonally negative as usual for the first half of the year
  • Outlook 2016: slightly lower output volume, confirmed 3 % target for EBIT margin  
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BAM reports improved Results and strong Cash Flow

BAM reports improved results and strong cash flow; reiterates full year outlook:

  • Construction: Netherlands profitable and turnaround ongoing; negative result and refocus in Germany
  • Civil engineering: strong margin improvement
  • Property: improved results for residential and non-residential activities
  • PPP: solid performance driven by portfolio; funding PGGM JV increased
  • Brexit: predominantly FX translation effects
  • Order book: lower level, improved quality due to tender discipline
  • Cash flow: strong improvement in working capital efficiency
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Glencore: 2016 Half-Year Report - further Losses

"Delivering on our debt reduction plan, underpinned by industry-leading cost performance and robust operating cash flows"

Glencore's Chief Executive Officer, Ivan Glasenberg, commented: "Since we announced our measures to reduce debt levels last September, we have made considerable progress towards achieving our goals.

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