Update shared on 15 Dec 2025
Fair value Increased 6.30%Analysts have raised their price target on HOCHTIEF by approximately €17 to about €285, citing slightly lower perceived risk, stronger expected revenue growth, modestly improved profit margins, and a marginally higher future earnings multiple.
What's in the News
- HOCHTIEF, through its Sedgman unit and HOCHTIEF Infrastructure, has been appointed EPCM contractor for Vulcan Energy’s Lionheart Project, covering both a EUR 397 million Lithium Extraction Plant and a EUR 337 million Central Lithium Plant, reinforcing its role in critical minerals infrastructure (Key Developments)
- HOCHTIEF has agreed to invest EUR 169 million in Vulcan Energy, including EUR 39 million in the Lionheart Project and up to EUR 130 million via a share subscription, becoming a cornerstone investor in the sustainable lithium and renewable energy business (Key Developments)
- The company has been named preferred supplier for the Lionheart Project’s civil construction works, strengthening its integrated presence across the energy transition value chain (Key Developments)
- HOCHTIEF raised its 2025 operational net profit guidance to a range of EUR 750 to 780 million, from a previous range of EUR 680 to 730 million, indicating a targeted 20 to 25 percent year-on-year increase, with the company citing very strong profit momentum at the Turner segment and an expected acceleration in Q4 2025 (Key Developments)
Valuation Changes
- Fair Value Estimate has risen slightly from approximately €267.84 to about €284.71 per share, reflecting a modest uplift in the underlying valuation.
- Discount Rate edged down marginally from around 7.10 percent to about 7.00 percent, implying a slightly lower perceived risk profile.
- Revenue Growth increased from roughly 9.99 percent to about 10.77 percent, indicating higher expected top line expansion.
- Net Profit Margin improved slightly from around 2.55 percent to about 2.57 percent, pointing to modestly better profitability assumptions.
- Future P/E moved up from about 19.20x to roughly 19.80x, suggesting a small increase in the valuation multiple applied to future earnings.
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