Hochtief Reports Record Orders Driven by AI Data Center Demand
Hochtief Reports Record Orders Driven by AI Data Center Demand
German construction giant Hochtief has reported a record order backlog of €90 billion, marking a 29 percent increase from the previous year. The surge is primarily attributed to intense global demand for data center infrastructure supporting the artificial intelligence boom. Operating profits also rose significantly during the first nine months of the year.
German construction conglomerate Hochtief reported a record order backlog reaching €90 billion by the end of September, representing a 29 percent increase compared to the same period last year. The company attributes this growth largely to surging demand for data center infrastructure.
Over the past twelve months, Hochtief secured approximately €27 billion in contracts specifically for data centers. Additional projects include infrastructure developments across Asia, the United States, and Europe, as well as specific initiatives such as a research center in Berlin and power grid expansion in Australia.
Financial results for the first nine months of the year showed an operating profit increase of 40 percent to €752 million. Revenue grew by 14 percent to just over €32 billion. Juan Santamaría, a member of the executive board, highlighted the strong outlook for the company amidst these developments.
Hochtief, which employs approximately 64,400 people and is listed on the DAX index, cited rising demand in artificial intelligence, energy, defense, and critical minerals as key drivers supporting its expansion.
F.Peeters--RTC
