Hochtief has identified a EUR 210bn (USD 240bn) PPP project pipeline, the German construction firm’s executives said in the 3Q18 earnings call held 7 November.
In the US, Hochtief noted a “slow but steady rise” in the US P3 market and said the company is optimistic for 2019, pointing to Texas, Georgia and Alabama as states with significant activity, according to its earnings report.
Hochtief is part of the consortium that was awarded the Los Angeles International Airport (LAX) Automated People Mover P3, holding an 18% equity share.
Canada was cited as one of the most mature PPP markets, particularly in Ontario, with social infrastructure and civil projects dominating.
The Americas were Hochtief’s second most active market (after Asia-Pacific) with EUR 247.7m EBITDA in the first three quarters.
The firm reported a 33% year-on-year increase in net profits to EUR 403m for the first nine months of 2018. Net profit in the past quarter alone was EUR 173.9m, up 52.9% from the same period last year. EBITDA rose 10.2% from last year to EUR 366.8m and totaled EUR 1.04bn for the first nine months of 2018.