Data centres, energy, transport drive big jump in Hochtief’s sales

A Hochtief tunnelling project (Image courtesy of Hochtief)

Hochtief reported a 25% year-on-year increase in group sales to €18.4 billion for the first six months of 2025 (29% on a currency-adjusted basis), driven largely by strong organic growth in its strategic sectors.

Operational net profit climbed 18% to €355 million. New orders rose 23% to €26.1 billion, with its total order backlog standing at €69 billion, an increase of 15% year-on-year.

Chief executive Juan Santamaría Cases said Hochtief was delivering end-to-end infrastructure and services solutions that matched the rising demand in growth markets.

Growth underpinned by strategic sectors

More than half of the group’s new orders were in strategic growth markets such as digital infrastructure, energy, transport, and advanced technologies, sectors Hochtief said typically presented lower risk profiles.

The company has rapidly grown its global presence in data centres, where it now claims around 6GW of capacity built. Its US subsidiary Turner doubled its order intake in the segment during the first half, while a Cimic-led joint venture began work on a new development in the Philippines. Meanwhile, Hochtief is pushing forward with plans for a network of decentralised Edge data centres across Europe, including future expansions into Austria, Switzerland and the UK.

Semiconductor facilities were also a key driver. New projects in the US, Malaysia and Germany reflected rising investment from clients in artificial intelligence (AI) and cloud technologies.

Energy infrastructure formed another major pillar of growth. Cimic is developing renewable energy assets and grid infrastructure across Australia, while in Germany, Hochtief was awarded a planning contract for new onshore converter stations, designed to transmit North Sea wind power to industrial centres in the Ruhr region.

Transport infrastructure continued to be a key contributor, boosted by stimulus packages in multiple geographies. Notable wins included a €1.2 billion highway PPP in the Netherlands, a US$1 billion rail project for FlatironDragados between Washington D.C and Virginia, and upgrades to Germany’s rail network, including contracts for Deutsche Bahn and the Munich S-Bahn. In Australia, a Cimic joint venture is set to deliver faster rail links in Queensland ahead of the 2032 Brisbane Olympics.

Energy transition and digitalisation make for positive outlook

The company maintained its full-year 2025 guidance, targeting operational net profit of between €680 million and €730 million, representing a potential rise of up to 17%.

Further sectoral gains were seen in biopharma and healthcare, where Turner retained its position as the top construction manager in the US, as well as education, social infrastructure and defence. A €2 billion defence backlog includes active projects in Australia and the US, where Hochtief is delivering facilities for the Royal Australian Air Force and the US Navy’s Pearl Harbor base.

Meanwhile, critical minerals projects continued to expand, in line with rising demand for battery-related metals. The group is involved in lithium developments in Germany, Portugal, Brazil and Canada, alongside a new vanadium and rare earths processing project in Queensland.

Hochtief said it expected to continue capitalising on global shifts toward digitalisation, clean energy, and sustainable mobility and pointed to further investment opportunities where it could deploy equity to support long-term infrastructure growth.