European Utilities Correspondent
Peter's Feed
Jan 15, 2013

Hungary’s budget threat fades as airport recovers

FRANKFURT/BUDAPEST, Jan 15 (Reuters) – The danger of an 800
billion forint ($3.61 billion) hit to the Hungarian budget from
compensation payments linked to a fall in business at Budapest
airport faded on Tuesday as airport operator Hochtief
said the facility was doing well.

Last year’s collapse of state-owned carrier Malev,
which was responsible for 40 percent of annual sales at Budapest
airport, raised concerns a corresponding fall in passenger
numbers could trigger payments to the five airport operators
under a so-called hardship clause.

Nov 14, 2012

Bilfinger profit beats forecasts on Scandinavian orders

FRANKFURT, Nov 14 (Reuters) – Germany’s Bilfinger
beat expectations for quarterly earnings, helped by orders to
maintain factories in Scandinavia, oil platforms in the North
Sea and a gas plant in Germany.

Bilfinger, which services industrial plants, won major
orders in the period from clients such as Germany’s BASF
, Britain’s BP and Norway’s Statoil,
the Mannheim, Germany-based company said on Wednesday.

Nov 12, 2012

Deutsche Wohnen raises 2012 outlook

FRANKFURT, Nov 12 (Reuters) – German real estate group
Deutsche Wohnen raised its earnings expectations after
increasing rents, leasing more apartments and selling more

“Demand for properties as an investment continues to
increase,” the company said on Monday.

Nov 8, 2012

HeidelbergCement’s profit saved by prices, cost cuts

FRANKFURT, Nov 8 (Reuters) – German cement maker
HeidelbergCement beat third-quarter earnings forecasts
as price increases, cost cuts and a lower euro made up for
declining sales.

With a weak economy keeping a lid on overall demand, Chief
Executive Bernd Scheifele is focusing on raising profitability
with a series of programmes to lift prices and shave costs.

Nov 8, 2012

HeidelbergCement Q3 profit beats on U.S. housing recovery

FRANKFURT, Nov 8 (Reuters) – German cement maker
HeidelbergCement reported third-quarter earnings that
beat expectations thanks to a recovery in residential
construction in North America and continued strong demand from

Operating income rose 15 percent to 649 million euros ($828
million), compared with the 586 million euro average of
estimates in a Reuters poll.

Nov 7, 2012

Hochtief raises expectations for 2012 sales and orders

FRANKFURT, Nov 7 (Reuters) – Hochtief AG, a German
construction and industrial services provider, posted higher
than expected third-quarter earnings and raised expectations for
orders and sales on Asia and the United States.

Its order backlog and sales this year will match 2011
levels, and not fall as previously predicted, helped by its
construction business in the United States and its building and
mining operations in Australia, the company, controlled by
Spain’s ACS, said on Wednesday.

Nov 6, 2012

Fraport profit tops forecasts on Frankfurt growth

FRANKFURT, Nov 6 (Reuters) – German airport operator Fraport
earned more than expected in the third quarter and
predicted three years of rising profits supported by a fourth
runway at its Frankfurt airport which has increased passenger
numbers and air traffic.

Fraport makes more than a third of its operating earnings
from retail outlets at F rankfurt and sales of surplus land. It
has expanded one of its two terminals there to tap passenger
growth after the fourth runway opened in 2010.

Oct 10, 2012

BayernLB launches sale of 33,000 flats

MUNICH, Oct 10 (Reuters) – German public sector lender
BayernLB will start the sale of 33,000 flats in the
next few days, its Chief Executive said, in a deal that could
easily top this year’s biggest real estate transaction in

The bank, which has to sell the real estate unit GBW
to meet European Commission demands, is seeking
non-binding bids until year-end, CEO Gerd Haeusler said on

Oct 10, 2012

Allianz turns lender to boost property investments

MUNICH (Reuters) – Allianz (ALVG.DE: Quote, Profile, Research, Stock Buzz), Europe’s largest insurer, is taking advantage of banks’ diminished appetite for lending against real estate by offering loans to boost its investment in property.

The loans offer a similar return to the rental yields on acquired buildings and help Allianz to overcome a scarcity of prime real estate investment opportunities, Olivier Piani, chief executive officer of Allianz Real Estate, said.

Aug 14, 2012

Hochtief hit by troubled Hamburg construction project

FRANKFURT, Aug 14 (Reuters) – Hochtief, the German
construction and industrial services provider controlled by
Spain’s ACS, reported a surprise second-quarter loss on
Tuesday, hit by a troubled concert hall project in Hamburg which
analysts said now puts the company in danger of missing its
full-year profit forecast.

The company would have to earn about 475 million euros ($587
million) before taxes and about 229 million euros net in the
second half to reach its targets.