Americas division
| (EUR million) | 2008 | 2007 |
|---|---|---|
| New orders | 7,743.3 | 7,715.7 |
| Work done | 8,117.6 | 7,270.4 |
| Order backlog | 8,397.9 | 8,379.9 |
| Divisional sales | 8,045.1 | 6,953.3 |
| External sales | 8,045.1 | 6,953.2 |
| Operating earnings (EBITA) | 102.8 | 77.0 |
| Profit before taxes | 76.9 | 76.0 |
| Capital expenditure | 37.0 | 215.3 |
| RONA (%) | 19.0 | 21.8 |
| Net assets (December 31) | 465.3 | 482.7 |
| Employees (average over the year) | 10,752 | 9,778 |
The HOCHTIEF Americas division's key figures
Despite the general weakness in the economy, new orders in the HOCHTIEF Americas division remained at the same level as in 2007. Work done clearly exceeded the prior year. Compared with 2007, both of these order KPIs showed a negative exchange rate effect and a positive effect from the inclusion of Flatiron for the full year for the first time. The order backlog stabilized overall at the record level of the prior year.The positive business performance in 2008 was particularly reflected in the operating earnings, which increased 33.5 percent. This increase compared with 2007 compensated the positive nonrecurring effect from the return of guarantees to Aecon in 2007. Profit before taxes stood at the prioryear level (up 1.2 percent), primarily due to the increased interest expense arising in connection with the acquisition of Flatiron.
Capital expenditure, which rose sharply in 2007 due to the acquisition of Flatiron, fell back to the level of prior years in 2008.
The increase in the average number of employees is attributable
to two opposing effects: The inclusion of the Flatiron
employees for the full year resulted in a significant increase.
By contrast, in Brazil, temporary capacities that had been
built up for the completion of major construction projects
were shed again.
