Hochtief AG increases 2025 operating profit guidance

Hochtief AG, a leading construction and engineering group listed on Xetra, has raised its operating profit forecast for the 2025 fiscal year. The updated guidance reflects a stronger-than‑expected performance across the company’s five divisions—Airport, Development, Construction Services Americas, Construction Services Asia Pacific, and Construction Services Europe.

Updated financial outlook

  • Revised operating profit range: €750 million to €780 million.
  • Previous guidance: €680 million to €730 million.
  • Increase compared with the prior year: 20 %–25 % higher than the €625 million operating profit recorded in 2024.

The management cited improved business momentum, particularly the robust activity of Turner, a U.S. subsidiary of the Spanish infrastructure conglomerate ACS. This enhanced performance has prompted the company to adjust its 2025 earnings projection upward.

Market context

  • Close price (2025‑11‑04): €262.20.
  • 52‑week high: €268.00 (2025‑10‑08).
  • 52‑week low: €110.30 (2024‑11‑18).
  • Market capitalization: €19.7 billion.
  • Price‑earnings ratio: 23.92.

The new forecast comes at a time when the MDAX, where Hochtief is a constituent, is trading near 29,300 points. The index has shown modest volatility, with a slight decline in early trade on 6 November 2025.

Implications for investors

The upward revision is expected to support the share price by signalling stronger profitability prospects. The company’s current price, close to its 52‑week high, indicates that the market may already have priced in some of the anticipated earnings lift. However, the guidance update provides additional confirmation of operational resilience amid fluctuating construction markets.

Summary

Hochtief AG’s decision to raise its 2025 operating profit outlook reflects improved business dynamics, particularly from its Turner subsidiary. The company now expects €750 million to €780 million in operating profit, representing a 20 %–25 % increase over last year’s results. This update aligns with the group’s broader strategy to deliver sustainable growth across its global construction and engineering portfolio.