- New division created
- Earnings again contributed significantly to HOCHTIEF's business success
- PPP portfolio expanded further
- HOCHTIEF Concessions among the world's leading infrastructure providers
In the first quarter of the year under review, HOCHTIEF
Concessions GmbH was established as the new main
company for the division of the same name combining the
HOCHTIEF AirPort and HOCHTIEF PPP Solutions companies.
This move is our reaction to the increasing importance
of concessions and operation*. At the same time, the
transparency and efficiency of these activities is being improved
and synergies between the business segments
reinforced.
HOCHTIEF Concessions is already one of the world"s
leading infrastructure providers with operations in all key
markets worldwide. The company is both an investor and
a manager. HOCHTIEF Concessions offers one-stop
shopping for project development, financing and capital
raising, construction and project management as well as
operation and asset management for airports, toll roads,
PPP-based public building and renewable energy projects.
Our comprehensive expertise and many years' experience
in these areas are the key to our success. This is true in
particular in the business segments in which competitive
hurdles are very high owing to their complexity.
Positive fiscal year for HOCHTIEF AirPort**
The total number of passengers at our six airport holdings
was 90 million, which represents an increase of 1.5 percent
over 2007 (88.7 million passengers). However, the
weakening economy curbed growth.
Once again, HOCHTIEF AirPort was successful in putting
the airports in a position to handle the forecast growth in
traffic volume as well as developing new business segments
and sources of income. One of these is the non-aviation
segment, which includes food outlets, shopping malls and
car parking, for example.
Current HOCHTIEF AirPort projects
In August 2008, the company qualified for the privatization
of the Pulkovo Airport in St. Petersburg and also took on
several consulting projects. For instance, HOCHTIEF AirPort
prepared master plans for Roschino Airport in Tyumen,
Siberia,
and Riga International Airport in Latvia. A feasibility
study was also conducted on the expansion and upgrading
of Henri Coand' Airport in Bucharest, Romania. Moreover,
in 2008 we provided our services as a seasoned airport
manager to Frederic Chopin Airport in Warsaw, Poland,
to successfully begin operation of the new Terminal 2 on
time.
The airport holdings
Athens International Airport
HOCHTIEF AirPort stake: 26.7% / HOCHTIEF AirPort Capital stake:
13.3%
In the year under review, the airport's passenger volume
was 16.5 million, a slight decrease of 0.4 percent from the
previous year. In June 2008, the airport's management
welcomed the hundred millionth passenger since the airport
opened in 2001. Construction work on the 50,000-squaremeter
convention and exhibition center at the airport continued
according to schedule and is slated for completion
in 2009. In May 2008, Athens International Airport received
the European Commission's GreenBuilding Award for exemplary
energy conservation measures throughout the
airport facility. In the run-up to the Olympic Summer Games
in 2008, Beijing Airport benefited from the expertise of the
former Olympic host city's airport managers. Subsequently,
a partnership agreement was signed to ensure an extensive
sharing of experience in the future.
Budapest Airport
HOCHTIEF AirPort stake: 37.25%
In 2008, the number of passengers declined compared
with 2007, dropping 1.8 percent to 8.4 million. The "BUD
Future" modernization program launched in 2007 with investments
totaling EUR 261 million continued. HOCHTIEF
AirPort is preparing the second largest airport in the new
EU member states for future challenges and creating the
conditions required for expansion of the non-aviation business.
One of the elements of the investment program is
the BUD Skycourt, a building connecting Terminals 2A and
2B and providing space for retail and catering units.
