HOCHTIEF Anual report 2008
HOCHTIEF's Concessions Business
- Additions to PPP portfolio
- Stage set for further international expansion
- Infrastructure projects prove largely stable
- HOCHTIEF Concessions formed
HOCHTIEF is geared to sustainable, profitable growth. A
key part in this growth strategy is played by our intensive
and continuously expanding activities in the concessions
and operation business. These activities include the airport
and public-private partnership (PPP) segments served by
the HOCHTIEF Concessions division.
Recognizing the growing importance of the concessions
business to HOCHTIEF, we created a new HOCHTIEF
Concessions division in the first quarter of 2008. The division
is presided over by HOCHTIEF Concessions GmbH
and contains HOCHTIEF AirPort GmbH and HOCHTIEF
PPP Solutions GmbH. It thus brings together our activities
in the airports, toll roads, public buildings and renewable
energies segments. The new structure allows closer cooperation
and the reaping of synergies in market development,
business planning, special operator responsibilities
and other technical areas – making us a strong partner for
our clients.
HOCHTIEF further expanded its portfolio in the concessions
business during the year. The expansion is based
on:
- The expertise and innovative strength we have shown time
and again in designing, financing, building and operating
complex projects, which means we can optimize and
provide services at every stage of the project life cycle
- Our experience with concessions and operation projects
worldwide
- Our closely linked international network and cross-border
transfer of know-how, which enable us to reap synergies
- Our excellent reputation as one of the world's leading
construction services providers.
Structure of HOCHTIEF's concessions business
At the end of 2008, HOCHTIEF held stakes in six airports,
eight toll roads, fifteen public building projects and two
renewable energy projects. Further interests are owned by
our subsidiary Leighton.** Our company consequently
occupies a globally leading position in the market for privately
financed infrastructure projects.
The following information relates exclusively to the project
portfolios of HOCHTIEF AirPort and HOCHTIEF PPP Solutions
and their valuation.
HOCHTIEF AirPort***
HOCHTIEF became established in this dynamic market as
early as the mid-1990s with the award in Athens of the
world's first
BOOT concession for an airport, secured
among other things by virtue of our airport construction
expertise. We have since added interests in Budapest,
Düsseldorf, Hamburg, Sydney and Tirana airports. This
portfolio of attractive airports with strong prospects for the
future makes us one of the world's largest private and independent
airport investors and managers. HOCHTIEF
AirPort only enters into long-term arrangements with the
goal of improving an airport's operating efficiency and passenger
comfort. Total passenger numbers served across
our airport portfolio swelled to some 90 million in fiscal
2008.
The net present value (NPV) established by HOCHTIEF Concessions was calculated as of December 31, 2008 on the basis of
various future-looking assumptions, among others with regard to the operative and financial development of individual
subsidiaries/associates as well as with regard to the applied discounting rates. In the event these assumptions change or
do not materialize, this may lead to a deviation – possibly even on a significant scale – of the actual value from the
value shown here.
HOCHTIEF Anual report 2008 | Copyright 2009 HOCHTIEF
