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| name = Hochtief AG
| name = Hochtief AG
| logo = Hochtief logo.svg
| logo = Hochtief logo.svg
| type = [[Public company|Public]] (''[[Aktiengesellschaft]]'')
| type = [[Public company|Public]] [[Subsidiary]]
| traded_as = {{FWB|HOT}}<br/>[[MDAX|MDAX Component]]
| traded_as = {{FWB|HOT}}<br/>[[MDAX|MDAX Component]]
| foundation = {{start date and age|1873}}<ref>{{cite web |url=https://www.hochtief.de/hochtief/79.jhtml| title=HOCHTIEF Konzern > Geschichte|website=hochtief.de}}</ref>
| foundation = {{start date and age|1873}}<ref>{{cite web |url=https://www.hochtief.de/hochtief/79.jhtml| title=Hochtief Konzern Geschichte|website=Hochtief}}</ref>
| location = [[Essen]], Germany
| location = [[Essen]], Germany
| key_people = Marcelino Fernández Verdes <small>([[chief executive officer|CEO]] and chairman of the executive board)</small>, Manfred Wennemer <small>([[Chairman]] of the [[supervisory board]])</small>
| industry = [[Construction]]
| industry = [[Construction]]
| products = Construction services, [[project management]], facility management
| products = Construction services, [[project management]]
| revenue = {{decrease}} €21.377 billion <small>(2021)</small><!-- group revenue, not from AG revenue, as it is more representative --> <ref name="AR2021_AG">{{cite web |url=https://www.hochtief.de/mmdbdownload?id=216382 |title=Annual Financial Statements of HOCHTIEF Aktiengesellschaft as of December 31, 2021 |access-date=25 February 2022 |publisher=Hochtief}}</ref><ref name="AR2021_Group">{{cite web |url=https://www.hochtief.de/mmdbdownload?id=216379 |title=HOCHTIEF Group Report 2021 |access-date=25 February 2022 |publisher=Hochtief}}</ref>
| revenue = {{increase}} €27.756 billion <small>(2023)</small><ref name="AR2023_AG">{{cite web |url=https://www.hochtief.de/mmdbdownload?id=229172 |title=Hochtief Group Report 2023 |access-date=30 September 2023 |publisher=Hochtief}}</ref>
| operating_income = {{decrease}} €205 million <small>(2021)</small><ref name="AR2021_AG" />
| operating_income = {{increase}} €523 million <small>(2023)</small><ref name="AR2023_AG" />
| net_income = {{decrease}} €157.2 million <small>(2021)</small><ref name="AR2021_AG" />
| net_income = {{decrease}} €314 million <small>(2023)</small><ref name="AR2023_AG" />
| assets = {{increase}} €6.459 billion <small>(end 2021)</small><ref name="AR2021_AG" />
| assets = {{increase}} €19 billion <small>(2023)</small><ref name="AR2023_AG" />
| equity = {{decrease}} €2.670 billion <small>(end 2021)</small><ref name="AR2021_AG" />
| equity = {{decrease}} €1.266 billion <small>(end 2023)</small><ref name="AR2023_AG" />
| num_employees = 33,835 <small>(end 2021)</small><!-- employees of group --><!-- number of employees at AG are 161 --><ref name="AR2021_AG" /><ref name="AR2021_Group" />|
| num_employees = 41,575 <small>(end 2023)</small><ref name="AR2023_AG" />
| parent = [[Grupo ACS]] (66.5%)<ref>{{cite web|url=http://www.4-traders.com/ACS-ACTIVIDADES-DE-CONSTR-140640/company/|title=ACS Actividades de Construccion y Servicios company : Shareholders, managers and business summary - Bolsa de Madrid: ACS - 4-Traders|last=4-traders|website=4-traders.com}}</ref>
| parent = [[ACS Group]] (75.71%)<ref>{{cite web|url=http://www.4-traders.com/ACS-ACTIVIDADES-DE-CONSTR-140640/company/|title=ACS Actividades de Construccion y Servicios company: Shareholders, managers and business summary Bolsa de Madrid: ACS - 4-Traders|last= |website=4-traders.com}}</ref>
| homepage = [http://www.hochtief.com www.hochtief.com]
| homepage = {{URL|https://www.hochtief.com|hochtief.com}}
}}
}}


[[File:Abu Simbel, Ramesses Temple, front, Egypt, Oct 2004.jpg|right|thumb|The façade of the greater temple at Abu Simbel, moved to escape the rising Nile. The [[cliff]] behind the temple is artificial, and was created to allow the temple to be moved to a higher location.]]
[[File:Abu Simbel, Ramesses Temple, front, Egypt, Oct 2004.jpg|right|thumb|The façade of the greater temple at Abu Simbel, moved to escape the rising Nile. The [[cliff]] behind the temple is artificial, and was created to allow the temple to be moved to a higher location.]]
'''Hochtief [[Aktiengesellschaft|AG]]''' is a global provider of [[infrastructure]] technology and construction services, with locations in [[North America]], [[Australia]], and [[Europe]]. The [[Essen]] based company is primarily active in the fields of [[high tech]], [[energy transition]], and sustainable infrastructure. With the international projects making up 95% of the company's revenue, Hochtief was among the largest international construction firms in 2023.<ref>{{Cite web |title=ENR’s 2023 Top 250 International Contractors |url=https://www.enr.com/toplists/2023-Top-250-International-Contractors-Preview |access-date=2024-09-30 |website=[[Engineering News-Record]]}}</ref><ref name=":2">{{Cite web |title=Hochtief AG, Essen |url=https://www.northdata.de/HOCHTIEF+AG,+Essen/HRB+279 |access-date=2024-09-30 |website=North Data |language=de}}</ref>
'''Hochtief [[Aktiengesellschaft|AG]]''' is a German [[construction]] company based in [[Essen]], [[North Rhine-Westphalia]], Germany.<ref name=Group>[http://www.hochtief.com/hochtief_en/hochtief?id=1501 Hochtief investor relations website]. Retrieved 16 February 2006</ref> Hochtief is Germany's largest construction company and operates globally, ranking as one of the largest general construction companies in the United States through its [[Turner Construction|Turner]] subsidiary, and in Australia through a 72.683% shareholding in [[CIMIC Group]].<ref>[http://www.hochtief.com/img/content/presse/pressemit/ht_portrait_0905.pdf Corporate Portrait] {{webarchive|url=https://web.archive.org/web/20070927211432/http://www.hochtief.com/img/content/presse/pressemit/ht_portrait_0905.pdf |date=27 September 2007 }}, Hochtief website. Retrieved 16 February 2006</ref> In 2010 it employed more than 70,000 employees across five corporate divisions. One of these, [[Hochtief Concessions]], is a major airport operator. The others are involved with construction project planning, finance, construction and operation.<ref name=Group /> Work done in 2010 was [[Euro|€]]23.23 billion, with more than 80% coming from operations outside Germany.<ref>[http://www.berichte.hochtief.de/ar10/215.jhtml] {{Webarchive|url=https://web.archive.org/web/20120322090610/http://www.berichte.hochtief.de/ar10/215.jhtml |date=22 March 2012 }}, Hochtief annual report website. Retrieved 5 April 2010</ref>


In Australia, the group is active through its subsidiary [[CIMIC Group|Cimic]] (100% since 2022).<ref name=":3">{{Cite news |date=2024-03-18 |title=Konzernabschluss zum Geschäftsjahr vom 1.1.2023 bis zum 31.12.2023 |trans-title=Annual Report 2023 |work=[[Unternehmensregister]]}}</ref> Via its wholly owned subsidiary [[Turner Construction|Turner]] Hochtief is a leader in commercial construction in the [[United States]].<ref>{{Cite web |title=ENR 2023 Top 400 Contractors 1–100 |url=https://www.enr.com/toplists/2023-Top-400-Contractors-1-preview |access-date=2024-09-30 |website=[[Engineering News-Record]]}}</ref> Since June 2018, Hochtief has held a 20% stake in [[Abertis]]. Abertis directly owns 99.1% of the toll road operator Abertis Infraestructuras.<ref name=":3" />
The company's history dates back to 1874 and includes engineering feats such as the transplantation of the [[Abu Simbel]] rock temples in [[Egypt]] (saving them from the rise of the [[River Nile]] caused by the [[Aswan High Dam]]),<ref name=Abu>[http://www.hochtief.com/hochtief_en/115.jhtml The rescue of Abu Simbel, 1963-1968], Hochtief website. Retrieved 16 February 2006</ref> and infrastructure projects like the new [[Athens International Airport]]<ref name=Athens>[http://www.hochtief.com/hochtief_en/542.jhtml System leadership and the public-private partnership from 1990 onwards, Page 2/5], Hochtief history website. Retrieved 16 February 2006</ref> and Germany's first [[nuclear power plant]].<ref name=Kahl>[http://www.hochtief.com/hochtief_en/103.jhtml From the master-builder to the construction corporation (1966-1989), Page 2/3], Hochtief history website. Retrieved 16 February 2006</ref> It is also noted for its involvement with the [[Bauhaus]] movement,<ref>[http://www.hochtief.com/hochtief_en/73.jhtml Sponsoring: Close links with the Bauhaus], Hochtief website. Retrieved 16 February 2006</ref> particularly for its work at [[Zollverein Coal Mine Industrial Complex|Zollverein colliery]]<ref name=Zollverein>[http://www.hochtief.com/hochtief_en/111.jhtml Zollverein coal mine in Essen, 1929-1931], Hochtief history website. Retrieved 16 February 2006; [http://www.worldheritagesite.org/sites/zollverein.html further information] {{webarchive|url=https://web.archive.org/web/20051227115615/http://www.worldheritagesite.org/sites/zollverein.html |date=27 December 2005 }} on http://www.worldheritagesite.org/ accessed 16 February 2006</ref> and the reconstruction of the [[Wassily Kandinsky|Kandinsky]]-[[Paul Klee|Klee]] house in [[Dessau]];<ref name=Kandinsky-Klee>[http://www.hochtief.com/hochtief_en/132.jhtml The Kadinsky-Klee House], Hochtief website. Retrieved 16 February 2005; [http://www.hochtief.com/hochtief_en/135.jhtml Restoration], Hochtief website. Retrieved 16 February 2006; [http://www.worldheritagesite.org/sites/bauhausweimardessau.html Bauhaus and its sites] {{webarchive|url=https://web.archive.org/web/20060830153851/http://www.worldheritagesite.org/sites/bauhausweimardessau.html |date=30 August 2006 }}, http://www.worldheritagesite.org/. Retrieved 16 February 2006</ref> both [[World Heritage Site]]s. During [[World War II]] it deployed forced labor on construction projects.<ref name=Forced_labor>[http://www.hochtief.com/hochtief_en/98.jhtml Politicization of the construction industry (1933-1945), Page 4/4], Hochtief history website. Retrieved 16 February 2006</ref> It built the [[Führerbunker]] in [[Berlin]], the scene of [[Adolf Hitler]]'s suicide, as well as Hitler's home in [[Berghof (residence)|Berghof]] and the [[Wolfsschanze]] headquarters.<ref name=WWII_work>[http://www.hochtief.com/hochtief_en/97.jhtml Politicization of the construction industry (1933-1945), Page 3/4], Hochtief history website. Retrieved 16 February 2006</ref> More recent constructions have included [[Bosphorus Bridge]] ([[Turkey]]),<ref name=Bosporus>[http://www.hochtief.com/hochtief_en/117.jhtml Bosphorus Bridge in Turkey, 1970-1974], Hochtief history website. Retrieved 16 February 2006</ref> [[King Abdulaziz International Airport]] ([[Saudi Arabia]]),<ref name=Jeddah>[http://www.hochtief.com/hochtief_en/104.jhtml From the master-builder to the construction corporation (1966-1989), Page 3/3], Hochtief history website. Retrieved 16 February 2006</ref> and the [[Messeturm]]<ref name=Messeturm>[http://www.hochtief.com/hochtief_en/119.jhtml Exhibition center tower in Frankfurt am Main, 1988-1991], Hochtief history website. Retrieved 16 February 2005; {{Structurae|id=20000123|title=Messe Tower}}</ref> and [[Commerzbank Tower]]<ref name=Commerzbank>[http://www.hochtief.com/hochtief_en/126.jhtml Commerzbank in Frankfurt am Main, 1994-1996], Hochtief website. Retrieved 16 February 2006; {{Structurae|id=20000122|title=Commerzbank Tower}}</ref> in [[Frankfurt]].


Since ACS Group first acquired shares in Hochtief in 2005, it has increased its shareholding to 75.71% in 2023.<ref>{{Cite web |date=2024-02-22 |title=Group Report 2023 |url=https://ircenter.handelsblatt.com/download/companies/hochtief/Annual%20Reports/DE0006070006-JA-2023-EQ-E-00.pdf |website=[[Handelsblatt]] |page=61}}</ref>
In late 2010, Spanish construction company [[Grupo ACS]], which already owned a 30 percent stake of Hochtief, launched a bid that would allow ACS to acquire an additional 20 percent stake of Hochtief. The bid was approved by the German Federal Financial Supervisory Authority (BaFin) on 29 November 2010.<ref>[http://www.bafin.de/nn_722758/SharedDocs/Mitteilungen/EN/2010/pm__101129__uebernahmeangebot__acs__hochtief__en.html Bafin press release] {{webarchive|url=https://web.archive.org/web/20110928091652/http://www.bafin.de/nn_722758/SharedDocs/Mitteilungen/EN/2010/pm__101129__uebernahmeangebot__acs__hochtief__en.html |date=28 September 2011 }}, Bafin website. Retrieved 5 April 2011</ref> ACS increased its stake in Hochtief to 50.16 percent in June 2011,<ref>[http://www.dw-world.de/dw/article/0,,15170633,00.html], Deutsche Welle</ref> effectively taking over control of Hochtief.


==History==
==History==
===Founding and early years===
In 1873, brothers Philipp Helfmann (a [[bricklayer]]) and Balthasar Helfmann (a [[Locksmithing|locksmith]]), originally from [[Kelsterbach]], founded the company ''Gebrüder Helfmann'' in [[Frankfurt|Frankfurt am Main]]. While Balthasar was responsible for the completion of construction contracts, Philipp developed the financing side of the business.<ref name=":0">{{Cite web |title=History |url=https://www.hochtief.com/about-hochtief/history |access-date=2024-09-26 |website=Hochtief |language=en}}</ref> Their first major contract was for the [[University of Giessen]] in 1878.<ref name=":8">{{Cite web |title=University of Giessen |url=https://www.hochtief.com/about-hochtief/history/university-of-giessen |access-date=2024-09-26 |website=Hochtief |language=en}}</ref> By the 1880s, the company had begun to produce its own construction materials but was still only a regional player. Shortly after the death of Balthasar, Philipp Helfmann transformed the company into a joint-stock corporation for building construction and civil engineering named ''Aktiengesellschaft für Hoch- und Tiefbauten'' (Construction and Civil Engineering Corporation) in 1896, just before the German Stock Exchange Act came into force.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=45f.}}</ref>


A major development was the contract for the [[destination spa|spa]] in [[Bad Orb]] in 1899, where the order included not just construction of the buildings, but also provision of infrastructure like [[road]]s and [[garden]]s, arrangement of finances for the project, and maintenance of some responsibilities for operation after the construction. Also in 1899, another [[turnkey]] project, a new [[grain]] [[storage silo|silo]] in [[Genoa]], Italy, was both the firm's first international venture and its first project using [[reinforced concrete]]. Philipp Helfmann died in the same year, with his son-in-law, [[Hans Weidmann]], taking over as [[Chief Executive]].<ref name=":0" />
===Early years===
[[File:Echelsbach Bridge.jpg|thumb|Echelsbach Bridge, completed 1929]]The company was probably founded in 1874 (its first mention in the local address book) as ''Gebrüder Helfmann, Bauunternehmer'' by the [[Kelsterbach]]-born brothers [[Philipp Helfmann|Philipp]] and [[Balthasar Helfmann]], a [[lumber]] [[merchant]] and [[mechanic]] respectively, in [[Bornheim (Frankfurt am Main)|Bornheim]] near [[Frankfurt am Main]].<ref>[http://www.hochtief.com/hochtief_en/77.jhtml The Helfmann Brothers (1873-1896), Page 1/5], Hochtief history website. Retrieved 16 February 2006</ref> While Balthasar focused on the completion of construction contracts, Philipp developed the financing side of the business.<ref>[http://www.hochtief.com/hochtief_en/79.jhtml The Helfmann Brothers (1873-1896), Page 2/5], Hochtief history website. Retrieved 16 February 2006</ref> Their first major contract was for the [[University of Giessen]] in 1878.<ref>[http://www.hochtief.com/hochtief_en/81.jhtml The Helfmann Brothers (1873-1896), Page 4/5], Hochtief history website. Retrieved 16 February 2006</ref> By the 1880s the company had begun to produce its own construction materials but was still only a regional player.<ref>[http://www.hochtief.com/hochtief_en/83.jhtml The Helfmann Brothers (1873-1896), Page 5/5], Hochtief history website. Retrieved 16 February 2006</ref> Shortly after the death of Balthasar, Philipp converted the company into a joint stock corporation, ''Aktiengesellschaft für Hoch- und Tiefbauten'' ("Construction and Civil Engineering Corporation", though literally the "Corporation for High - ''Hoch'' and Deep - ''Tief'' Construction - ''Bauten'').<ref>[http://www.hochtief.com/hochtief_en/84.jhtml Establishment of the "Aktiengesellschaft", (1896-1921), Page 1/5], Hochtief history website. Retrieved 16 February 2006</ref> A major development was the contract for the [[destination spa|spa]] project in [[Bad Orb]] in 1899, with the corporation not simply erecting buildings but also to provide infrastructure like [[road]]s and [[garden]]s, to arrange the finances for the project, and to maintain some responsibilities for operating the project after its construction.<ref>[http://www.hochtief.com/hochtief_en/85.jhtml Establishment of the "Aktiengesellschaft", (1896-1921), Page 2/5], Hochtief history website. Retrieved 16 February 2006</ref> Also in 1899, another [[turnkey]] project, a new [[grain]] [[storage silo|silo]] in [[Genoa]], Italy, was both the firm's first international venture and its first project using [[reinforced concrete]].<ref>[http://www.hochtief.com/hochtief_en/109.jhtml Grain store in the port of Genua, 1899-1901], Hochtief history website]. Retrieved 16 February 2006</ref> Philipp Helfmann died in the same year, with his son-in-law, [[Hans Weidmann]], taking over as [[Chief Executive]].<ref>[http://www.hochtief.com/hochtief_en/88.jhtml Establishment of the "Aktiengesellschaft", (1896-1921), Page 5/5], Hochtief history website. Retrieved 16 February 2006</ref>


===After the Helfmann brothers===
===After the Helfmann brothers===

[[File:Zeche Zollverein abends.jpg|left|thumb|Shaft XII at [[Zollverein Coal Mine Industrial Complex|Zollverein colliery]] was named Schacht "Albert Vögler". The [[Bauhaus]]-influenced design combined function with aesthetics.]]
[[File:Zeche Zollverein abends.jpg|left|thumb|Shaft XII at [[Zollverein Coal Mine Industrial Complex|Zollverein colliery]] was named Schacht "Albert Vögler". The [[Bauhaus]]-influenced design combined function with aesthetics.]]
[[File:Hochtief AG 1927.jpg|right|thumb|Share of the Hochtief AG, issued 4. July 1927]]
[[File:Hochtief AG 1927.jpg|right|thumb|Share of the Hochtief AG, issued 4. July 1927]]
[[File:Echelsbach Bridge.jpg|thumb|Echelsbach Bridge, completed 1929]]
The firm grew rapidly, but was not comparable with the major German construction concerns of the era. In 1921 it attracted investment from the [[industrialist]] [[Hugo Stinnes]]<ref>[http://www.hochtief.com/hochtief_en/89.jhtml Under the influence of the Stinnes Group, (1921-1933), Page 1/6], Hochtief history website. Retrieved 16 February 2006</ref> (described by ''[[Time (magazine)|Time]]'' as the "New Emperor of Germany" for his wealth and influence) and in 1922 the firm moved its base to Essen as part of its integration into the Stinnes group.<ref>[http://www.hochtief.com/hochtief_en/90.jhtml Under the influence of the Stinnes Group, (1921-1933), Page 2/6], Hochtief history website. Retrieved 16 February 2006; Time magazine claim appears uncited in [[Hugo Stinnes]] article</ref> Stinnes planned to use Hochtief for all his construction projects, while the Hochtief saw an opportunity to profit from the [[Treaty of Versailles]], organising the delivery of construction materials to France as part of German [[World War I reparations|reparations]] for [[World War I]].<ref>[http://www.hochtief.com/hochtief_en/91.jhtml Under the influence of the Stinnes Group, (1921-1933), Page 3/6], Hochtief history website. Retrieved 16 February 2006</ref> Fate intervened as Stinnes died in 1924 and within a year his industrial empire collapsed, while the French occupation of the [[Ruhr]] destroyed the chance to profit from the reparations contract that had been made with the French industrialist [[Guy Louis Jean de Lubersac]]. With the help of several [[bank]]s, the company (now known as ''Hochtief Aktiengesellschaft für Hoch- und Tiefbauten vorm. Gebrüder Helfmann'') avoided [[insolvency]]. In the aftermath of the Stinnes collapse, the major [[Public utility|utility]] [[RWE]] and electrical equipment producer [[AEG]] became major share-holders in Hochtief, and Hans Weidmann stepped down in 1927.<ref>[http://www.hochtief.com/hochtief_en/92.jhtml Under the influence of the Stinnes Group, (1921-1933), Page 4/6], Hochtief history website. Retrieved 16 February 2006</ref>
The firm grew rapidly, but was not comparable with the major German construction companies of the era. In 1921, it attracted investment from the [[industrialist]] [[Hugo Stinnes]] (described by ''[[Time (magazine)|Time]]'' as the "New Emperor of Germany" for his wealth and influence) and in 1922, the firm moved its base to Essen as part of its integration into the Stinnes group.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |page=92}}</ref> Stinnes planned to use Hochtief for all his construction projects, while Hochtief saw an opportunity to profit from the [[Treaty of Versailles]], organising the delivery of construction materials to France as part of German [[World War I reparations|reparations]] for [[World War I]]. Stinnes died in 1924,<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=81}}</ref> and within a year his industrial empire collapsed. With the help of several [[bank]]s, the company (now known as ''Hochtief Aktiengesellschaft für Hoch- und Tiefbauten vorm. Gebrüder Helfmann'') avoided [[insolvency]]. In the aftermath of the Stinnes collapse, the major [[Public utility|utility]] [[RWE]] and electrical equipment producer [[AEG (German company)|AEG]] became major shareholders in Hochtief, and Hans Weidmann stepped down in 1927.<ref name=":0" /><ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=113}}</ref>


A series of major construction projects ensued, including the [[Echelsbach Bridge]] (then Germany's largest single span reinforced concrete bridge<ref name=Echelsbach>[http://www.hochtief.com/hochtief_en/111.jhtml The Echelsbach Bridge], Hochtief history website. Retrieved 16 February 2006; {{Structurae|id=20000516|title=Echelsbach Bridge}}. Retrieved 16 February 2006</ref>), the [[Schluchsee dam]]<ref name=Schluchsee>[http://www.hochtief.com/hochtief_en/93.jhtml Under the influence of the Stinnes Group, (1921-1933), Page 5/6], Hochtief history website. Retrieved 16 February 2006</ref> and work at the [[Zollverein Coal Mine Industrial Complex|Zollverein colliery]]. The Zollverein [[architect]]s [[Fritz Schupp]] and [[Martin Kremmer]] seem to be influenced by the [[Bauhaus]], one of the reasons the complex became a [[UNESCO]] World Heritage Site.<ref name=Zollverein /> The iconic Shaft 12 at the colliery was named after Albert Vögler, CEO of the [[Vereinigte Stahlwerke AG]], which was owner of the colliery since 1926.<ref>The claim that Shaft 12 was named after Vögler appears unsourced on the German Wikipedia article, as live on 16 February 2006.</ref> There was also [[canal]] work: the [[Moselle Canal]] in France<ref>[http://www.hochtief.com/hochtief_en/94.jhtml Under the influence of the Stinnes Group, (1921-1933), Page 6/6], Hochtief history website. Retrieved 16 February 2006</ref> and the [[Albert Canal]] in [[Belgium]].<ref name=Albert>[http://www.hochtief.com/hochtief_en/112.jhtml Albert Canal in Belgium, 1930-1934], Hochtief history website. Retrieved 16 February 2006</ref>
A series of major construction projects ensued, including the [[Echelsbach Bridge]] (then Germany's largest single span reinforced concrete bridge),<ref>{{Cite web |title=Echelsbach Bridge |url=https://www.hochtief.com/about-hochtief/history/echelsbach-bridge |access-date=2024-09-26 |website=Hochtief |language=en}}</ref> the [[Schluchsee dam]] and work on the [[Zollverein Coal Mine Industrial Complex|Zollverein colliery]].<ref>{{Cite web |title=Zollverein Colliery in Essen |url=https://www.hochtief.com/about-hochtief/history/zollverein-colliery-in-essen |access-date=2024-09-26 |website=Hochtief |language=en}}</ref>


===From Nazi Germany to Reconstruction===
===From Nazi Germany to Reconstruction===
[[File:Reichskanzlei-Fuehrerbunker.png|thumb|A reconstruction of the layout of the [[Führerbunker]] in Berlin, built by Hochtief in 1943. Hitler committed suicide here during the [[Battle of Berlin]] in 1945.]]Under the [[Third Reich]], [[Jew]]ish members of the Supervisory Board were expelled under the [[Nuremberg Laws]] in 1935. The CEO, [[Eugen Vögler]], did not join the [[Nazi party]] until 1937, however, he did offer his services to the Nazis as leader of the "Construction Industry Business Group" and took a position in the [[Hitler Youth]]. The construction business flourished under the [[Four year plan]], with its vast [[public works]] programme, including the [[Autobahn]] network, and the industrial build-up in preparation for war, for example the construction of a new [[truck]] factory for [[Opel]] in [[Brandenberg]]. Hochtief also worked on a new centre for Nazi rallies in [[Nuremberg]]. In 1936 it moved its Essen headquarters from the [[Pferdemarkt]] to its current location in [[Rellinghauser Straße, Essen|Rellinghauser Straße]]. As war became imminent, the company began work on the [[Westwall]] defensive network. During [[World War II]], it later worked on the [[Atlantic Wall]] defences, and a range of infrastructure projects across German-dominated Europe. Hochtief also constructed buildings for Hitler himself, notably his [[Bavaria]]n Alpine retreat, the [[Berghof (Hitler)|Berghof]], his [[Wolf's Lair]] [[headquarters]] in [[Rastenburg]], and the [[Führerbunker]] in [[Berlin]], where Hitler ultimately committed suicide.<ref name=WWII_work />
[[File:Reichskanzlei-Fuehrerbunker.png|thumb|A reconstruction of the layout of the [[Führerbunker]] in Berlin, built by Hochtief in 1943. Hitler committed suicide here during the [[Battle of Berlin]] in 1945.]]From 1933 onwards, the structures of the [[Nazi Germany|Third Reich]] influenced Hochtief’s business activities.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=123}}</ref> [[Jew]]ish members of the Supervisory Board were expelled under the [[Nuremberg Laws]] in 1935. In 1937, CEO Eugen Vögler joined the [[Nazi Party]] (NSDAP) and served as leader of the Construction Industry Group as well as an honorary squad leader of the [[Hitler Youth]].<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=129–143}}</ref> The construction business flourished under the [[Four Year Plan|four year plan]], with its vast [[public works]] programme, including the [[Autobahn]] network, and the industrial build-up in preparation for war, for example the construction of a new [[truck]] factory for [[Opel]] in [[Brandenberg]]. Hochtief also worked on a new centre for Nazi rallies in [[Nuremberg]]. In 1936, it moved its Essen headquarters from the [[Pferdemarkt]] to its current location on [[Rellinghauser Straße, Essen|Rellinghauser Straße]]. As war became imminent, the company began work on the [[Westwall]] defensive network.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=157–169}}</ref> During [[World War II]], it worked on the [[Atlantic Wall]] defences, and a range of infrastructure projects across German-dominated Europe. Hochtief also constructed buildings for Hitler himself, notably his [[Bavaria]]n Alpine retreat, the [[Berghof (Hitler)|Berghof]], his [[Wolf's Lair]] [[headquarters]] in [[Rastenburg]], and the [[Führerbunker]] in [[Berlin]], where Hitler ultimately committed suicide.<ref name=":0" /><ref>{{Cite web |date=2013-08-18 |title=Vorbunker und Führerbunker |url=http://berliner-unterwelten.de/fuehrerbunker.328.0.html |url-status=dead |archive-url=https://web.archive.org/web/20130818032653/http://berliner-unterwelten.de/fuehrerbunker.328.0.html |archive-date=2013-08-18 |access-date=2024-09-26 |website=Berliner Unterwelten e.V |language=de}}</ref>


After 1939 the firm began to use [[unfree labor|forced labour]] extensively on its projects, as did many other German industrial concerns at the time. Hochtief's slave workers suffered from malnutrition, beating and constant abuse.<ref name="Millo2010">{{cite book|editor=Belle Millo|title=Voices of Winnipeg Holocaust Survivors|url=https://books.google.com/books?id=j0lZwp0VqmgC&pg=PA152|year=2010|publisher=Belle Millo|isbn=978-0-9691256-9-3|page=166}}</ref> The consortium-led nature of construction projects obscures the firm's exact involvement, as does the destruction of many records.<ref name=Forced_labor />
After 1939, the firm began to use [[unfree labor|forced labour]] extensively on its projects, as did many other German industrial concerns at the time. Hochtief's slave workers suffered from malnutrition, beating and constant abuse.<ref name="Millo2010">{{cite book|editor=Belle Millo|title=Voices of Winnipeg Holocaust Survivors|url=https://books.google.com/books?id=j0lZwp0VqmgC&pg=PA152|year=2010|publisher=Belle Millo|isbn=978-0-9691256-9-3|page=166}}</ref><ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=181-195}}</ref>


=== Reconstruction and international expansion ===
During the closing stages of the war, most of the company's branch offices were destroyed, and employees in the East fled the [[Soviet Union|Soviet]] advance. The head office in Essen suffered a direct [[Strategic bombing during World War II|hit from a bomb]] in March 1945,<ref name=Forced_labor /> and regional offices and construction centres in [[Danzig]], [[Halle, Saxony-Anhalt|Halle]], [[Katowice]], [[Königsberg]], [[Kraków]], [[Leipzig]] and [[Magdeburg]] were lost as the territory they were in was allotted to [[Poland]] or the [[East Germany|Soviet Zone of occupation]]. As Eugen Vögler was on the run from the new authorities, he was replaced as CEO by [[Artur Konrad]].<ref>List of centres lost, and appointment of Konrad, taken from [http://www.hochtief.com/hochtief_en/99.jhtml Reconstruction (1945-1966), Page 1/3], Hochtief history website. Retrieved 16 February 2006; Vögler's suicide, with date of death, appears unsourced on his German Wikipedia biography, as live on 16 February 2006.</ref>
[[File:UZ-Historischer Eingang.jpg|thumb|Historic entrance to the former company headquarters]]
[[File: Hochtief Hauptverwaltung Essen gesamt.jpg|thumb|Headquarters of the Group in [[Essen]]]]
==== 1945–1966 ====
After the collapse in 1945, Hochtief lost both its international business and its branches in East Germany.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=205–207}}</ref> Under the leadership of the new CEO, Artur Konrad, operations continued.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |page=218}}</ref>[[File:Egypt.AbuSimbel.03.jpg|right|thumbnail|The old and new positions of the Abu Simbel temples]] One of the first major contracts was for a [[university hospital]] in [[Bonn]], between 1946 and 1949. The introduction of the [[Deutsche Mark]] in 1948 and the beginning of the [[Wirtschaftswunder]] brought more new work.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=259–268}}</ref>


[[Josef Müller (businessman)|Josef Müller]] took over as CEO in 1950. A decision was made to undertake more international projects, following a period of essentially domestic work after World War II. This included a series of power infrastructure works in [[Turkey]] and bridge and [[smelting]] works construction in [[Egypt]] during the early 1950s. Many projects from this period were undertaken outside of the [[First World]], often funded from [[development aid]] budgets.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |page=260}}</ref>
During the initial post-war period, a shortage of machinery, tools, and materials, as well as a dearth of new orders, hampered operations.<ref>[http://www.hochtief.com/hochtief_en/100.jhtml Reconstruction (1945-1966), Page 2/3], Hochtief history website. Retrieved 16 February 2006</ref> Some salvage work occurred, as well as rubble-clearance and basic repairs. One of the first, rare, major contracts was for a [[university hospital]] in [[Bonn]], 1946–49. The introduction of the [[German mark]] in 1948 and the beginning of the [[Wirtschaftswunder]] brought more new work.<ref name=Sariyar>[http://www.hochtief.com/hochtief_en/101.jhtml Reconstruction (1945-1966), Page 3/3], Hochtief history website. Retrieved 16 February 2006</ref>


The company gained international recognition for the relocation of the [[Abu Simbel]] rock temple (from November 1963 to September 1968, planned by Walter Jurecka, former head of the international division) and the Mandulis [[Temple of Kalabsha]] (1961 to 1963). These [[UNESCO]] [[World Heritage Site|World Heritage sites]] had to be relocated due to the construction of the [[Aswan Dam|Aswan High Dam]].<ref>{{Cite news |last= |first= |date=1963-12-06 |title=Es ist spät für Abu Simbel |url=https://www.zeit.de/1963/49/es-ist-spaet-fuer-abu-simbel |access-date=2024-09-30 |work=[[Die Zeit]] |language=de-DE |issn=0044-2070}}</ref><ref>{{Cite book |last=Spencer |first=Terence |url=https://books.google.de/books?id=CFMEAAAAMBAJ&lpg=PA32&dq=Abu+Simbel+Life+1966&pg=PA32&redir_esc=y#v=onepage&q=Abu%20Simbel%20Life%201966&f=false |title=The Race to Save Abu Simbel Is Won |date=1966-12-02 |publisher=Life |year= |pages=33–36 |language=en}}</ref>
===Revival and international expansion===
[[File:Egypt.AbuSimbel.03.jpg|right|thumbnail|The old and new positions of the Abu Simbel temples]] [[Josef Müller (businessman)|Josef Müller]] took over as CEO in 1950. A decision was taken to undertake more international projects, following a period of essentially domestic work after World War II. This included a series of power infrastructure works in [[Turkey]] and bridge and [[smelting]] works construction in [[Egypt]] during the early 1950s. Many projects from this period were undertaken outside of the [[First World]], often funded from [[development aid]] budgets.<ref name=Sariyar />


[[File:Messe-Torhaus, Frankfurt.jpg|left|thumbnail|The radical [[Messe Torhaus]] in Frankfurt, with its "[[Guillotine]]"]]
A high-profile success for the company came in the 1960s, again in Egypt. The rising waters of the [[River Nile]] (a result of the construction of the [[Aswan High Dam]]) threatened the [[Ancient Egypt|ancient]] [[Abu Simbel temples]] complex. The entire site was dismantled and reassembled 200 m further from the river, and 65 m higher,<ref name=Abu /> at a cost of around [[US$]]36 million.<ref>Estimated cost is given, unreferenced, in the [[Abu Simbel]] article.</ref>


==== 1967–1989 ====
[[File:Messe-Torhaus, Frankfurt.jpg|left|thumbnail|The radical [[Messe Torhaus]] in Frankfurt, with its "[[Guillotine]]".]]The focus of the company began to switch away from purely construction and towards more [[turnkey]] work and [[Service (economics)|service provision]], for example the 1961-3 [[Hilton Athens|Hilton Hotel, Athens]], project.<ref name=Kahl /> Most work was domestic, driven by Germany's strong economic growth, with a particular strength in [[power plant]] construction. This included the construction of the [[Federal Republic of Germany]]'s first nuclear power plant, [[Kahl Nuclear Power Plant]], near [[Karlstein am Main|Dettingen am Main]].<ref name=Kahl /> The construction contract had been awarded by [[AEG]], which had been commissioned by the utility company [[RWE]] to build the plant. The plant began to feed its electricity to the grid in June 1961.<ref>[http://www.kernenergie.net/informationskreis/en/wissen/geschichte.php?navid=13 History of Nuclear Power] {{webarchive|url=https://web.archive.org/web/20051120010040/http://www.kernenergie.net/informationskreis/en/wissen/geschichte.php?navid=13 |date=20 November 2005 }}, [http://www.kernenergie.net/informationskreis/en/ German Atomic Energy Forum] {{webarchive|url=https://web.archive.org/web/20070116152100/http://www.kernenergie.net/informationskreis/en/ |date=16 January 2007 }}. Retrieved 16 February 2006</ref> By contrast, the first [[East Germany|East German]] nuclear plant, at [[Rheinsberg]], was connected to the grid in 1966.<ref>[http://world-nuclear.org/info/inf43.html Nuclear Power in Germany, Nuclear Issues Briefing Paper 46, Jan 2009], [[World Nuclear Association]][http://www.world-nuclear.org/] . Retrieved 12 January 2009</ref>
From 1967 onwards, the company’s focus shifted away from purely construction services towards turnkey construction and related services, exemplified by the [[Hilton Athens|Hilton Hotel in Athens]].<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=281f.}}</ref>


By the mid-1970s, the international business accounted for only a small portion of the company’s activities. Most work was domestic, driven by Germany's strong economic growth, with a particular strength in [[power plant]] construction. This included the construction of the [[Federal Republic of Germany]]'s first nuclear power plant, [[Kahl Nuclear Power Plant]], near [[Karlstein am Main|Dettingen am Main]].<ref name="Kahl">[http://www.hochtief.com/hochtief_en/103.jhtml From the master-builder to the construction corporation (1966–1989), Page 2/3], Hochtief history website. Retrieved 16 February 2006</ref><ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |page=286}}</ref> The construction contract had been awarded by [[AEG (German company)|AEG]], which had been commissioned by the utility company [[RWE]] to build the plant. The plant began to feed its electricity to the grid in June 1961.<ref>[http://www.kernenergie.net/informationskreis/en/wissen/geschichte.php?navid=13 History of Nuclear Power] {{webarchive|url=https://web.archive.org/web/20051120010040/http://www.kernenergie.net/informationskreis/en/wissen/geschichte.php?navid=13|date=20 November 2005}}, [http://www.kernenergie.net/informationskreis/en/ German Atomic Energy Forum] {{webarchive|url=https://web.archive.org/web/20070116152100/http://www.kernenergie.net/informationskreis/en/|date=16 January 2007}}. Retrieved 16 February 2006</ref><ref>{{Cite news |date=2016-03-14 |title=Anfang und Ende des ersten deutschen Meilers |url=https://www.focus.de/wissen/klima/anfang-und-ende-des-ersten-deutschen-meilers-versuchsatomkraftwerk-kahl_id_2534024.html |access-date=2024-09-30 |work=Focus Online |language=de}}</ref> By contrast, the first [[East Germany|East German]] nuclear plant, at [[Rheinsberg]], was connected to the grid in 1966.<ref>[http://world-nuclear.org/info/inf43.html Nuclear Power in Germany, Nuclear Issues Briefing Paper 46, Jan 2009] {{Webarchive|url=https://web.archive.org/web/20090220103559/http://world-nuclear.org/info/inf43.html|date=20 February 2009}}, [[World Nuclear Association]][http://www.world-nuclear.org/] . Retrieved 12 January 2009</ref> During the 1960s and 1970s, the company also executed significant transport infrastructure projects. Notable examples include the Raúl Uranga Subfluvial Tunnel in [[Argentina]], the [[Elbe Tunnel (1975)|Elbe Tunnel]] in Hamburg, and the [[Bosphorus Bridge]] in Istanbul.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |page=292}}</ref>
There was also considerable transport infrastructure activity, including on the [[Hernandarias Subfluvial Tunnel]], [[Argentina]] in the 1960s<ref name=Hernandarias>[http://www.hochtief.com/hochtief_en/114.jhtml Paraná Tunnel in Argentina, 1961-1962], Hochtief history website. Retrieved 6 February 2006</ref> and the [[New Elbe Tunnel]] in [[Hamburg]] in the 1970s<ref name=Elbe>[http://www.hochtief.com/hochtief_en/116.jhtml Elbe tunnel in Hamburg, 1969-1975 and 1997-2003], Hochtief history website. Retrieved 16 February 2006</ref>


By the mid-1970s, foreign work (such as the [[Bosporus Bridge]] in Turkey, completed 1974<ref name=Bosporus />) was accelerating while domestic orders were receding, according to the company's annual report of 1975. By 1980, foreign work accounted for more than 50% of Hochtief's business. A major factor was the contract for [[King Abdulaziz International Airport]] (completed 1981), the largest airport in [[Saudi Arabia]], and the most valuable contract Hochtief had ever been involved with.<ref name=Jeddah /> The architecture of the airport is highly rated aesthetically, and it has several unusual features, including Terminal Three, used only during the [[Hajj]], reserved for [[pilgrim]]s travelling to [[Mecca]]. It has a tent-shaped [[fibreglass]] [[roof]], contains a [[mosque]], can accommodate 80,000 travellers at once, and is believed to be the largest terminal in the world.<ref>Uncited sources, [[King Abdulaziz International Airport]] article, as live on 16 February 2006</ref>
After the 1973 oil crisis, the company benefited from the unexpected wealth of oil-exporting countries. By 1980, foreign work accounted for more than 50% of Hochtief's business. A major factor was the contract for the turnkey construction of [[King Abdulaziz International Airport]] (completed in 1981), the largest airport in Saudi Arabia, located in [[Jeddah]], and the most valuable contract Hochtief had ever been involved with.<ref>{{Cite web |title=Airport in Jeddah |url=https://www.hochtief.com/about-hochtief/history/airport-in-jeddah |access-date=2024-09-26 |website=Hochtief |language=en}}</ref> The aesthetics of the architecture of the airport is highly rated, and it has several unusual features, including Terminal Three, used only during the [[Hajj]], reserved for [[pilgrim]]s travelling to [[Mecca]]. It has a tent-shaped [[fibreglass]] [[roof]], contains a [[mosque]], can accommodate 80,000 travellers at once, and is believed to be the largest terminal in the world.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |pages=286–292}}</ref>[[File:Messeturm (Messegelände) Frankfurt-2.jpg|right|thumbnail|When the [[Messeturm]] in Frankfurt was completed in 1991, it was Europe's tallest building.]]


==== 1990–2007 ====
[[File:Messeturm (Messegelände) Frankfurt-2.jpg|right|thumbnail|When the [[Messeturm]] in Frankfurt was completed in 1991, it was Europe's tallest building.]]The 1980s were a difficult time financially, with less foreign work coming through; though they headed the consortium that built the [[Mosul Dam]] in Iraq from 1981 to 1984. There was domestic growth, highlighted by the architecturally radical [[Messe Torhaus]] in [[Frankfurt]], completed in 1984.<ref name=Jeddah /> It was later involved in the construction of the [[Messeturm]] in the same city; once completed in 1991 it was Europe's tallest building.<ref name=Messeturm /> In the mid-1990s, Hochtief was involved in yet another major [[skyscraper]] development in Frankfurt, the [[Commerzbank Tower]], which overtook the Messeturm to become Europe's tallest building, losing the record to [[Triumph-Palace]] in [[Moscow]] in 2003.<ref name=Commerzbank />
After German reunification, the company benefited from the construction boom, although by 1993, slowing economic growth led to increased competitive pressure. Under the leadership of Hans-Peter Keitel initially,<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |page=303}}</ref> and from 2007 Herbert Lütkestratkötter, the company underwent a restructuring.<ref>{{Cite web |last=Heise |first=Stephanie |last2=Heise |first2=Harald |date=2011-04-11 |title=Herbert Lütkestratkötter: Der tragische Abgang des Hochtief-Chefs |url=https://www.wiwo.de/unternehmen/herbert-luetkestratkoetter-der-tragische-abgang-des-hochtief-chefs/5259314.html |access-date=2024-09-30 |website=[[Wirtschaftswoche]] |language=de}}</ref> While construction remained the core business, Hochtief also began offering additional services as a construction provider, including the planning, financing, and operation of buildings. Acquisitions were made to support these new business areas.<ref>{{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich |page=310}}</ref> To further this, Hochtief founded new companies and acquired Australia's [[CIMIC Group|Leighton Holdings]] and the US-based [[Turner Construction]].<ref>{{Cite web |last=Sigrist |first=Damian |date=1999-08-18 |title=Hochtief schliesst eine Lücke |url=https://www.fuw.ch/article/hochtief-schliesst-eine-lcke |access-date=2024-09-30 |website=Finanz und Wirtschaft |language=de}}</ref>


In 2004, Hochtief transitioned from a subsidiary to a publicly traded company: the sale of the majority shareholder RWE’s shares gave Hochtief a new international shareholder structure.<ref>{{Cite news |date=2006-11-23 |title=Hochtief mit neuem Chef und alter Strategie |url=https://www.nzz.ch/articleEOPV2-ld.385950 |access-date=2024-09-30 |work=[[Neue Zürcher Zeitung]] |language=de-CH |issn=0376-6829}}</ref> By 2005, around 80% of the company was in free float.<ref>{{Cite web |date=2005-08-10 |title=Übernahmegerüchte treiben Aktie des Baukonzerns Hochtief |url=https://www.welt.de/print-welt/article687842/Uebernahmegeruechte-treiben-Aktie-des-Baukonzerns-Hochtief.html |access-date=2024-09-30 |website=[[Die Welt]] |language=de}}</ref> Through the acquisition of service companies [[Siemens]] Gebäudemanagement<ref>{{Cite web |date=2003-12-16 |title=Baukonzern Hochtief kauft das Gebäudemanagement von Siemens |url=https://www.welt.de/print-welt/article280356/Baukonzern-Hochtief-kauft-das-Gebaeudemanagement-von-Siemens.html |access-date=2024-09-30 |website=[[Die Welt]] |language=de}}</ref> and [[Lufthansa]] Gebäudemanagement,<ref>{{Cite web |date=2004-05-05 |title=Gebäudemanagement: Lufthansa verkauft Geschäftsfeld |url=https://www.faz.net/aktuell/wirtschaft/unternehmen/gebaeudemanagement-lufthansa-verkauft-geschaeftsfeld-1162325.html |access-date=2024-09-30 |website=[[Frankfurter Allgemeine Zeitung]] |language=de}}</ref> Hochtief Facility Management, a subsidiary, expanded from 800 to approximately 4,500 employees in 2004. In 2007, Hochtief acquired Flatiron, a provider of infrastructure projects in the United States.<ref>{{Cite web |last=Wnuck |first=Corinna |date=2007-09-25 |title=Hochtief übernimmt Flatiron Construction in den USA |url=https://www.finance-magazin.de/deals/ma-deals/hochtief-uebernimmt-flatiron-construction-in-den-usa-17831/ |access-date=2024-09-30 |website=Finance |language=de-DE}}</ref> Hochtief is also represented in the Gulf region through the Habtoor Leighton Group, a Leighton subsidiary.<ref>{{Cite web |last=Maurer |first=Peter |date=2013-12-11 |title=Hochtief-Tochter baut Wohnhochhäuser in Dubai |url=https://www.iz.de/unternehmen/news/-hochtief-tochter-baut-wohnhochhaeuser-in-dubai-1000017743 |access-date=2024-09-30 |website=[[Immobilien Zeitung]] |language=de}}</ref>
The 1990s brought an opportunity to expand operations in the airport management sector, as many countries privatised their airports. When [[Warsaw Frederic Chopin Airport]] needed upgrading in the early 1990s, [[LOT Polish Airlines]] was unable to afford the cost, so a complex financing arrangement was established whereby a bank would pay Hochtief two-thirds of the costs to upgrade the airport, while the airline assigned to the bank the revenues from aircraft using Polish airspace for a period.<ref name=Warsaw>[http://www.hochtief.com/hochtief_en/120.jhtml Warsaw International Airport, 1990-1992], Hochtief history website. Retrieved 16 February 2006</ref> The company began to take responsibility for more operational aspects of projects, including service provision, financing, facility management and software development, following a concept of being a "system leader", as set out by CEO Hans-Peter Keitel. These tasks were felt to be higher up the value chain, and would help the firm shake off the slowdown that had followed the initial boom of [[German reunification]]. These concepts were notably put into action during the construction of the new [[Athens International Airport]] in the late 1990s.<ref>[http://www.hochtief.com/hochtief_en/542.jhtml System leadership and the public-private partnership from 1990 onwards, Page 2/5], Hochtief history website. Retrieved 6 February 2006</ref>


=== Loss of independence ===
In 1999, Hochtief made big inroads into the United States market through its merger with Turner Corporation,<ref>[http://www.turnerconstruction.com/corporate/content.asp?d=1204 Press Release Turner merges with Hochtief] {{webarchive|url=https://web.archive.org/web/20060515004452/http://www.turnerconstruction.com/corporate/content.asp?d=1204 |date=15 May 2006 }}, Turner website. Retrieved 5 April 2011</ref> while in 2000 it celebrated its 125th [[anniversary]]. A part of those celebrations was the DM 1 million donation to the restoration of the Kandinsky-Klee House in [[Dessau]], a project for which it was the general contractor. The house had been used by the [[Bauhaus]] movement as an example of a "Meisterhaus", but Nazi persecution of the Bauhaus, and subsequent neglect, had left significant damage. The house was re-opened on 4 February 2000, after a two-year restoration programme. It forms part of the [[UNESCO]] Bauhaus [[World Heritage Site]].<ref name=Kandinsky-Klee />
In 2005, [[August von Finck Jr.|August von Finck]], through his Custodia Holding, acquired a stake in the company, which was increased to 25.08% in 2006.<ref>{{Cite web |last=Damm |first=Christoph |date=2018-11-27 |title=So verworren ist das Firmenimperium des geheimnisvollen Milliardärs, der die AfD unterstützt haben soll |url=https://www.businessinsider.de/wirtschaft/so-verworren-ist-das-firmenimperium-des-geheimnisvollen-milliardaers-der-die-afd-unterstuetzt-haben-soll-2018-11/ |access-date=2024-09-30 |website=[[Business Insider]] |language=de}}</ref><ref>{{Cite web |date=2006-02-09 |title=Hochtief – Custodia Holding erhöht Anteil auf 25,08 % |url=https://www.finanznachrichten.de/nachrichten-2006-02/5972959-hochtief-custodia-holding-erhoeht-anteil-auf-25-08-009.htm |access-date=2024-09-30 |website=Finanznachrichten |language=de}}</ref> In March 2007, the Spanish construction group [[ACS Group|Actividades de Construcción y Servicios]] (ACS) purchased Custodia’s shares for €72 per share, with the transaction amounting to over €1.26 billion.<ref>{{Cite news |date=2007-03-22 |title=ACS wird Mehrheitsaktionär von Hochtief. |url=https://www.nzz.ch/articleF187O-ld.1106029 |access-date=2024-09-30 |work=[[Neue Zürcher Zeitung]] |language=de-CH |issn=0376-6829}}</ref> Subsequently, ACS acquired more shares, holding 29.9% by September 2010.<ref>{{Cite web |last=Maier |first=Jutta |date=2019-02-03 |title=Machtwechsel bei Hochtief |url=https://www.fr.de/wirtschaft/machtwechsel-hochtief-11706323.html |access-date=2024-09-30 |website=[[Frankfurter Rundschau]] |language=de}}</ref> On 16 September 2010, ACS announced a public takeover bid for the remaining shares, offering an exchange of eight ACS shares for five Hochtief shares. On 29 November, BaFin approved ACS’s takeover of Hochtief. In December, Qatar Holding from the Emirate of Qatar subscribed to a reserved capital increase, acquiring nearly 9.1% of the shares. After improving the offer to nine ACS shares for five Hochtief shares, ACS announced in January 2011 that it held over 30% of Hochtief’s shares following the conclusion of the takeover bid.<ref>{{Cite web |last= |first= |date=2011-02-03 |title=ACS bei Hochtief (fast) am Ziel |url=https://www.n-tv.de/wirtschaft/ACS-bei-Hochtief-fast-am-Ziel-article2419386.html |access-date=2024-09-30 |website=[[n-tv]] |language=de}}</ref><ref>{{Cite web |date=2011-01-04 |title=Übernahme des Baukonzerns Hochtief: ACS nimmt Hürde von 30 Prozent |url=https://www.faz.net/aktuell/wirtschaft/unternehmen/uebernahme-des-baukonzerns-hochtief-acs-nimmt-huerde-von-30-prozent-1582875.html |access-date=2024-09-30 |website=[[Frankfurter Allgemeine Zeitung]] |language=de}}</ref> By June 2011, ACS held slightly over 50% of Hochtief’s shares,<ref>{{Cite web |last=Wiggins |first=Jenny |date=2011-05-27 |title=Leighton hopes ASC stays aloof |url=https://www.afr.com/companies/infrastructure/leighton-hopes-asc-stays-aloof-20110528-icue0 |access-date=2024-09-30 |website=Australian Financial Review |language=en}}</ref> as shares held by Hochtief itself were voting shares attributed to ACS.


=== Restructuring and reorganisation ===
In May 2013, Hochtief sold its airports division to Canada's [[Public Sector Pension Investment Board]] for 1.1 billion euros.<ref>{{cite news| url=https://www.reuters.com/article/us-hochtief-airports-idUSBRE94604J20130507| title=Hochtief sells airport unit to Canada's PSP Investments for $1.4 billion | author=Ludwig Burger| publisher=Reuters| date=7 May 2013}}</ref>
In May 2013, Hochtief sold its airports division to Canada's [[Public Sector Pension Investment Board]] for €1.1 billion.<ref>{{cite news |author=Ludwig Burger |date=7 May 2013 |title=Hochtief sells airport unit to Canada's PSP Investments for $1.4 billion |url=https://www.reuters.com/article/us-hochtief-airports-idUSBRE94604J20130507 |publisher=Reuters}}</ref> At the same time, Hochtief began restructuring its loss-making European activities in 2013: The Group spun off the construction business, which had previously been bundled into one unit, into four largely autonomous companies and cut up to 1,000 jobs, primarily in Germany.<ref>{{Cite web |last=Gassmann |first=Michael |date=2014-02-28 |title=Hochtief baut immer noch um |url=https://www.welt.de/print/die_welt/wirtschaft/article125279024/Hochtief-baut-immer-noch-um.html |access-date=2024-09-30 |website=[[Die Welt]] |language=de}}</ref>


In February 2014, the 50% stake in the real estate company Aurelis Real Estate, a former subsidiary of [[Deutsche Bahn]], was sold to an investor consortium led by the private equity firm Grove.<ref>{{Cite web |last= |date=2014-02-07 |title=Hochtief trennt sich von Aurelis |url=https://www.lto.de/recht/kanzleien-unternehmen/k/clifford-chance-clifford-chance-beraet-grove-fonds-beim-erwerb-von-43-der-anteile-an-aurelis-von-hochtief |access-date=2024-09-30 |website=Legal Tribune Online |language=de}}</ref> Further sales of smaller business units followed. In May 2015, Hochtief’s offshore business was sold to GeoSea, a subsidiary of the DEME Group.<ref>{{Cite web |last= |date=2015-05-26 |title=Hochtief verkauft Offshore-Sparte an GeoSea |url=https://www.lto.de/recht/kanzleien-unternehmen/k/baker-mckenzie-allen-overy-hochtief-verkauft-offshore-sparte-an-geosea |access-date=2024-09-30 |website=Legal Tribune Online |language=de}}</ref> However, Hochtief strengthened its activities in the Asia-Pacific region, increasing its stake in the listed Australian subsidiary Leighton Holdings Limited from approximately 58% to 69.62% in 2014.<ref>{{Cite news |date=2014-05-12 |title=Hochtief bid for Leighton falls short |work=[[The Australian]]}}</ref>
==Structure and ownership==
Hochtief is an [[Aktiengesellschaft]], roughly equivalent to a [[public limited company]] in the United Kingdom. Its [[shares]] are traded on all the German [[stock exchange]]s, including the [[Frankfurt Stock Exchange]] and [[Börse München]], using the [[Xetra (trading system)|Xetra]] system. Hochtief is a component of the [[MDAX]] [[share index]].<ref>[http://www.hochtief.com/hochtief_en/148.jhtml Key figures on Hochtief shares], Hochtief investor relations website, access 16 February 2006</ref> The major [[shareholder]]s are [[Grupo ACS]] with 61%, and Qatar Holdings LLC, with more than 10%. (This makes Hochtief a [[Grupo ACS]] subsidiary.) .<ref>[http://www.hochtief.com/hochtief_en/782.jhtml Shareholder structure], Hochtief investor relations website. Retrieved 18 August 2011</ref>


As part of the reorganisation, the company was renamed from Leighton Holdings to [[CIMIC Group|Cimic Group]] in April 2015.<ref>{{Cite web |last=Wiggins |first=Jenny |date=2015-03-20 |title=Leighton to change name to CIMIC in wake of corruption allegations |url=https://www.afr.com/markets/equity-markets/leighton-to-change-name-to-cimic-in-wake-of-corruption-allegations-20150320-1m40j3 |access-date=2024-09-30 |website=Australian Financial Review |language=en}}</ref>
As of January 2011, Hochtief has streamlined its corporate operations. The group is now divided into four divisions:<ref>[http://www.hochtief.com/hochtief_en/66.jhtml Corporate structure], Hochtief website. Retrieved 5 April 2011</ref>
*Hochtief Americas
*Hochtief Asia-Pacific
*Hochtief Europe
*Hochtief Concessions


=== Developments from the 2020s onwards ===
The European division plans, develops, implements, operates and manages real estate and infrastructure facilities in Europe and in selected regions worldwide.<ref>{{cite web|url=http://www.hochtief.com/hochtief_en/477.jhtml|title=HOCHTIEF Group > Structure > HOCHTIEF Europe|website=hochtief.com}}</ref>
In 2022, Juan Santamaría Cases assumed his position as CEO of the company, succeeding Marcelino Fernández Verdes.<ref>{{Cite web |last=Becker |first=Annette |date=2022-07-19 |title=Hochtief-Chef Fernández räumt das Feld |url=https://www.boersen-zeitung.de/personen/hochtief-chef-fernandez-raeumt-das-feld-d3c4887a-0755-11ed-a300-9f8a6bd55700 |access-date=2024-09-30 |website=[[Börsen-Zeitung]] |language=de}}</ref> In 2023, Hochtief, together with EWE, was awarded funding under the German government's Deutschlandnetz initiative to establish and operate charging points for electric vehicles.<ref>{{Cite web |date=2023-09-07 |title=Elektrofahrzeuge: Zehn Unternehmen dürfen Deutschlandnetz stricken |url=https://www.energie-und-management.de/nachrichten/detail/zehn-unternehmen-duerfen-deutschlandnetz-stricken-196245 |access-date=2024-09-30 |website=Energie & Management |language=de}}</ref>


==Organisation==
The Asia-Pacific division includes the activities of CIMIC Group Limited (formerly known as Leighton Holdings prior to April 2015) in Australia and Asia. CIMIC does not only provide construction and construction services but is also the world's largest contract miner. The [[Americas]] division co-ordinates the United States [[subsidiaries]] Turner Construction (acquired in 1999), Flatiron Construction (acquired in 2007) and E.E. Cruz (acquired in 2010).<ref>[http://www.hochtief.com/hochtief_en/480.jhtml Hochtief Americas], Hochtief website. Retrieved 5 April 2011</ref>
Hochtief is an [[Aktiengesellschaft]]. Its [[shares]] are traded on all German [[stock exchange]]s, including the [[Frankfurt Stock Exchange]] and [[Börse München]], using the [[Xetra (trading system)|Xetra]] system. In the 2023 financial year, Hochtief generated revenue of €27.8 billion, with the majority of earnings coming from Hochtief Americas. During the same financial year, 41,575 employees worked for the group.


=== Shareholder structure ===
Hochtief Concessions develops and implements concession projects. Its business areas include airports, roads, social infrastructure and further public-private partnership projects. One of its subsidiaries, Hochtief Airports, holds stakes in [[Athens International Airport]], [[Düsseldorf Airport]], [[Hamburg Airport]], [[Sydney Airport]], Budapest Airport and [[Rinas Mother Teresa Airport]] ([[Tirana]]).<ref>[http://www.hochtief.com/hochtief_en/476.jhtml Hochtief concessions]. Retrieved 5 April 2011</ref>
Shareholders as of September 2024:

* [[:de:Grupo_ACS|Grupo ACS]] – 75.71%
* Floating share – 21.07%
* Treasury shares – 3.21%

=== Company structure ===
The Hochtief Group operates three divisions with subsidiaries and additionally holds a 20% stake in Abertis HoldCo, S.A.:
{| class="wikitable" style="text-align:center;"
|- class=
! colspan="4" | Hochtief
|- class=
| [[Turner Construction]] || [[CIMIC Group|Cimic Group]] || Engineering and Construction || [[Abertis]]
|}
Turner is an American construction management company.<ref name=":4">{{Cite news |last=Meinke |first=Ulf |date=2024-02-23 |title=Neue Hochtief-Zentrale in Essen |work=Westfälische Rundschau |page=8 |language=de}}</ref> It is primarily involved in the delivery of healthcare and education facilities, airports, sports venues, and office buildings.<ref>{{Cite news |date=2023-04-18 |title=Ein Stadion für New York |work=[[Süddeutsche Zeitung]] |page=14 |language=de}}</ref> Additionally, Turner is increasingly active in the construction of technical facilities, such as factories for electric vehicles and battery recycling, as well as data centres, including those for the internet company [[Meta Platforms|Meta]].<ref>{{Cite web |date=2024-01-26 |title=Hochtief-Tochter errichtet US-Rechenzentrum für Meta |url=https://www.handelsblatt.com/unternehmen/industrie/baukonzern-hochtief-tochter-errichtet-us-rechenzentrum-fuer-meta/100010654.html |access-date=2024-09-26 |website=[[Handelsblatt]] |language=de}}</ref><ref name=":1">{{Cite news |last=Jansen |first=Jonas |last2=Theile |first2=Gustav |date=2023-05-23 |title=Wettlauf im Batteriewerksbau |work=[[Frankfurter Allgemeine Zeitung]] |page=20 |language=de}}</ref><ref name=":5">{{Cite news |date=2023-04-14 |title=Wie sich ein Rechenzentrum rechnet |work=[[Rheinische Post]] |page=26 |language=de}}</ref>

Cimic operates in the Asia-Pacific region, providing construction services for sectors such as education, healthcare, power and energy, transportation, tunnelling, and water.<ref>{{Cite web |last=Meinke |first=Ulf |date=2024-02-22 |title=Neue Hochtief-Zentrale in Essen: Pläne nicht aufgegeben |url=https://www.waz.de/wirtschaft/article241735968/Neue-Hochtief-Zentrale-in-Essen-Plaene-nicht-aufgegeben.html |access-date=2024-09-26 |website=[[Westdeutsche Allgemeine Zeitung]] |language=de}}</ref><ref>{{Cite news |date=2023-12-05 |title=Cimic mit Großauftrag |work=[[Frankfurter Allgemeine Zeitung]] |page=19 |language=de}}</ref> Cimic is also active in natural resources, holding stakes in service providers Thiess and Sedgman.<ref>{{Cite news |last=Jansen |first=Jonas |last2=Hein |first2=Christoph |date=2020-07-13 |title=Schwarzes Gold lockt Hochtief |work=[[Frankfurter Allgemeine Zeitung]] |page=18 |language=de}}</ref>

Engineering and Construction encompasses Hochtief's construction activities and PPP business in Europe, along with the civil engineering company Flatiron in North America. In Europe, Hochtief operates in Germany, Poland, the Czech Republic, Austria, the UK, Scandinavia, and the Netherlands.<ref>{{Cite web |title=Locations and regional contact persons |url=https://www.hochtief.com/activities/locations-and-regional-contact-persons |access-date=2024-09-26 |website=Hochtief |language=en}}</ref>

Hochtief holds a stake in Abertis, a toll road operator with approximately 8,000 kilometres of toll roads in Europe and South America. Abertis operates mainly in France, Spain, Brazil, Chile, the United States, Mexico, and Puerto Rico.<ref name=":6">{{Cite news |last=Müller |first=Benedikt |date=2018-10-30 |title=Mautstraßen statt Pullover |work=[[Süddeutsche Zeitung]] |page=20 |language=de}}</ref>

Subsidiaries include Flatiron, CPB Contractors, Leighton Asia (active in Hong Kong and other Southeast Asian countries),<ref>{{Cite news |date=2024-06-07 |title=Auf vier Prozent bauen |work=[[Wirtschaftswoche]] |page=78 |language=de}}</ref> and Hochtief Infrastructure.<ref>{{Cite web |last=Feldhaus |first=Friedhelm |date=2023-11-21 |title=Hochtief realisiert ÖPP Schulzentrum Süd im niedersächsischen Lehrte |url=https://www.iz.de/projekte/news/-hochtief-realisiert-oepp-schulzentrum-sued-im-niedersaechsischen-lehrte-2000021283 |access-date=2024-09-26 |website=Immobilien Zeitung |language=de}}</ref>

== Products and services ==
The company is mainly active in construction and civil engineering (buildings, bridges, tunnels, etc.). In addition to executing construction projects, Hochtief is also involved in planning and, in some cases, acts as a co-investor. Furthermore, Hochtief is active in the construction and operation of environmental technology facilities, as well as the expansion of digital infrastructure.<ref name=":1" /><ref name=":7">{{Cite web |date=2024-02-22 |title=ACS-Tochter Hochtief steigert Gewinn und Umsatz |url=https://www.sueddeutsche.de/wirtschaft/infrastrukturkonzern-acs-tochter-hochtief-steigert-gewinn-und-umsatz-dpa.urn-newsml-dpa-com-20090101-240222-99-85147 |access-date=2024-09-30 |website=[[Süddeutsche Zeitung]] |language=de}}</ref><ref name=":5" />

The corporate group also provides services such as organising and consulting on real estate and infrastructure facilities.<ref name=":2" /><ref name=":3" />

=== Urban and social infrastructure ===
Hochtief develops and constructs neighbourhoods and districts that include residential properties, as well as public and commercial facilities.<ref name=":2" /><ref>{{Cite web |title=Activities |url=https://www.hochtief.com/activities |access-date=2024-09-30 |website=Hochtief |language=en}}</ref>

=== Energy infrastructure and digital infrastructure ===
Hochtief delivers construction and infrastructure services for energy systems, from generation to utilization, and supports digital infrastructure projects like data centers and telecom networks.<ref name=":4" /><ref name=":1" /><ref name=":7" />

Hochtief is active in the energy infrastructure sector through subsidiaries such as Flatiron in the USA and Canada, CPB Contractors in Australia, Leighton Asia in Hong Kong and Southeast Asia, as well as Hochtief Infrastructure in Germany.<ref name=":3" />

=== Transport infrastructure ===
In the field of transport infrastructure, the company constructs [[bridge|bridges]], [[Rail transport|railways]], stations, [[airport]]s, and ports, as well as roads, tunnels, and motorways both domestically and internationally, often within the framework of concession models such as public-private partnerships.<ref name=":3" />

Hochtief holds a 20% stake in the internationally operating toll road operator [[Abertis]], which owns approximately 8,000 kilometres of toll roads across several countries.<ref name=":6" />

=== Mining operations ===
Hochtief is involved in the mining business through Cimic and holds a stake in Thiess, a contract miner. In October 2020, Cimic sold 50% of its stake in its mining subsidiary Thiess to the Elliott Fund Management;<ref>{{Cite web |date=2020-10-19 |title=Hochtief subsidiary CIMIC enters sale agreement with Elliott for 50% of Thiess |url=https://www.hochtief.com/news-media/press-releases/press-release/hochtief-subsidiary-cimic-enters-sale-agreement-with-elliott-for-50-of-thiess |access-date=2024-09-30 |website=Hochtief |language=en}}</ref> in April 2024, Cimic increased its shareholding back to 60%.<ref>{{Cite news |date=2024-04-24 |title=Hochtief-Aktie unter Druck |url=https://www.finanzen.net/nachricht/aktien/mehr-anteile-erworben-hochtief-aktie-unter-druck-hochtief-tochter-cimic-baut-thiess-beteiligung-aus-13446358 |access-date=2024-09-30 |work=Finanzen |language=de}}</ref>


==Timeline of notable construction projects==
==Timeline of notable construction projects==
*1927-1932: [[Zollverein Coal Mine Industrial Complex|Zollverein colliery]] (Shaft XII), [[Essen]]<ref name=Zollverein />
*1928-1929: Echelsbach Bridge, near Echelsbach, [[Bavaria]]<ref name=Echelsbach />
*1929-1931: Schluchsee Dam, [[Schluchsee]], [[Black Forest]]<ref name=Schluchsee />
*1930-1934: [[Albert Canal]], [[Belgium]]<ref name=Albert />
*1938-1945: Projects included the [[Westwall]] and [[Atlantic Wall]] defenses, and [[Adolf Hitler|Hitler's]] [[Berghof (Hitler)|Berghof]], [[Wolf's Lair]] and [[Führerbunker]]<ref name=WWII_work />
[[File:Commerzbank-Zentrale 2004-11-28a.JPG|thumb|right|The [[Commerzbank Tower]] surpassed the Messeturm]]
[[File:Commerzbank-Zentrale 2004-11-28a.JPG|thumb|right|The [[Commerzbank Tower]] surpassed the Messeturm]]
[[File:Hamburg, Elbphilharmonie -- 2023 -- 6564.jpg|thumb|Elbphilharmonie]]
*1946-1949: Bonn University Hospital, [[Bonn]]<ref name=Sariyar />
[[File:Aerial View of Frankfurt Airport 1.jpg|thumb|Franfurt Airport]]
*1952-1956: Sariyar Hydroelectric plant, [[Ankara]], [[Turkey]]<ref name=Sariyar />

*1958-1961: [[Kahl Nuclear Power Plant]], [[Karlstein am Main|Dettingen am Main]]<ref name=Kahl />
Projects Hochtief has been involved in include the [[Elbphilharmonie]] in Hamburg, the [[Gotthard Base Tunnel]] in Switzerland and the project planning of the [[Burj Khalifa]] in Dubai. Hochtief has also worked on various airports, such as those in Frankfurt, Athens, and Warsaw, as well as several expansions of the German motorways. International bridge construction projects include the [[Øresund Bridge]] and the [[Bosphorus Bridge]].<ref>{{Cite news |date=2023-02-24 |title=Viele Aufträge für Hochtief |work=[[Frankfurter Allgemeine Zeitung]] |language=de}}</ref><ref>{{Cite web |last=Bühren |first=Katja |date=2012-09-28 |title=Hochtief baut Passagierterminal am Warschauer Flughafen um |url=https://www.iz.de/projekte/news/-hochtief-baut-passagierterminal-am-warschauer-flughafen-um-1000010936 |access-date=2024-09-30 |website=[[Immobilien Zeitung]] |language=de}}</ref>
*1960-1969: [[Hernandarias Subfluvial Tunnel]], [[Argentina]]<ref name=Hernandarias />

*1961-1963: Hilton Hotel, [[Athens]], [[Greece]]<ref name=Kahl />
*1963-1968: [[Abu Simbel]] [[temple]]s transplanted, [[Egypt]]<ref name=Abu />
*1878–1879: [[University of Giessen]], [[Giessen]]<ref name=":8" />
*1927–1932: [[Zollverein Coal Mine Industrial Complex|Zollverein colliery]] (Shaft XII), [[Essen]]<ref name="Zollverein">[http://www.hochtief.com/hochtief_en/111.jhtml Zollverein coal mine in Essen, 1929-1931], Hochtief history website. Retrieved 16 February 2006; [http://www.worldheritagesite.org/sites/zollverein.html further information] {{webarchive|url=https://web.archive.org/web/20051227115615/http://www.worldheritagesite.org/sites/zollverein.html|date=27 December 2005}} on http://www.worldheritagesite.org/ accessed 16 February 2006</ref>
*1969-1975: [[New Elbe Tunnel]], [[Hamburg]]<ref name=Elbe />
*1927–1928: [[Predigtstuhl Cable Car]], [[Bad Reichenhall]]
*1970-1974: [[Bosphorus Bridge]], [[Turkey]]<ref name=Bosporus />
*1928–1929: Echelsbach Bridge, near Echelsbach, [[Bavaria]]<ref name="Echelsbach">[http://www.hochtief.com/hochtief_en/111.jhtml The Echelsbach Bridge], Hochtief history website. Retrieved 16 February 2006; {{Structurae|id=20000516|title=Echelsbach Bridge}}. Retrieved 16 February 2006</ref>
*1974-1981: [[King Abdulaziz International Airport]], [[Jeddah]], [[Saudi Arabia]]<ref name=Jeddah />
*1929–1931: Schluchsee Dam, [[Schluchsee]], [[Black Forest]]<ref name="Schluchsee">[http://www.hochtief.com/hochtief_en/93.jhtml Under the influence of the Stinnes Group, (1921-1933), Page 5/6], Hochtief history website. Retrieved 16 February 2006</ref>
*1981-1984: [[Mosul Dam]], [[Iraq]]
*1930–1934: [[Albert Canal]], [[Belgium]]<ref name="Albert">[http://www.hochtief.com/hochtief_en/112.jhtml Albert Canal in Belgium, 1930–1934], Hochtief history website. Retrieved 16 February 2006</ref>
*1984-1985: [[Messe Torhaus]], [[Frankfurt am Main]]<ref name=Jeddah />
*1938–1945: Projects included the [[Westwall]] and [[Atlantic Wall]] defenses, and [[Adolf Hitler|Hitler's]] [[Berghof (Hitler)|Berghof]], [[Wolf's Lair]] and [[Führerbunker]]<ref name="WWII_work">[http://www.hochtief.com/hochtief_en/97.jhtml Politicization of the construction industry (1933–1945), Page 3/4], Hochtief history website. Retrieved 16 February 2006</ref>
*1988-1991: [[Messeturm]], [[Frankfurt am Main]]<ref name=Messeturm />
*1946–1949: [[University of Bonn|Bonn University]] Hospital, [[Bonn]]<ref name="Sariyar">[http://www.hochtief.com/hochtief_en/101.jhtml Reconstruction (1945–1966), Page 3/3], Hochtief history website. Retrieved 16 February 2006</ref>
*1990-1992: Terminal One, [[Warsaw Chopin Airport|Warsaw Airport]], [[Poland]]<ref name=Warsaw />
*1994-1996: [[Commerzbank Tower]], [[Frankfurt am Main]]<ref name=Commerzbank />
*1952–1956: [[Sarıyar Dam|Sariyar Dam]], [[Ankara]], Turkey<ref name=Sariyar/>
*1954–1964: [[Vianden Pumped Storage Plant]], [[Vianden]], [[Luxembourg]]
*1996-2000: [[Athens International Airport]], [[Greece]]<ref name=Athens />
*1958–1961: [[Kahl Nuclear Power Plant]], [[Karlstein am Main|Dettingen am Main]]<ref name=Kahl/>
*1998-2000: Kandinsky-Klee house restoration, [[Dessau]]<ref name=Kandinsky-Klee />
*1960–1969: [[Hernandarias Subfluvial Tunnel]], Argentina<ref name="Hernandarias">[http://www.hochtief.com/hochtief_en/114.jhtml Paraná Tunnel in Argentina, 1961–1962], Hochtief history website. Retrieved 6 February 2006</ref>
*2002-2004: [[Katima Mulilo Bridge]], [[Zambia]] and [[Namibia]]<ref>[http://www.klausdierks.com/Namibian_Roads/Zambezi_bridge.htm Website of] Dr. [[Klaus Dierks]] [http://www.klausdierks.com/FrontpageMain.html], first Deputy Minister for Works, Transport and Communication in independent Namibia, involved in the planning and negotiations for the bridge. Retrieved 15 February 2005.</ref>
*1961–1963: Hilton Hotel, [[Athens]], Greece<ref name=Kahl/>
*2004-2008: [[Opera Krakowska]], [[Krakow]], Poland<ref>[http://www.opera.krakow.pl/english.php?id=386 The Opera Krakowska: "About us"] Access date: 9 July 2009</ref>
*1963–1968: [[Abu Simbel]] [[temple]]s transplanted, Egypt<ref name="Abu">[http://www.hochtief.com/hochtief_en/115.jhtml The rescue of Abu Simbel, 1963–1968], Hochtief website. Retrieved 16 February 2006</ref>
*2005-2008: [[Dnipro Stadium]], [[Ukraine]]<ref>{{cite web |url=http://www.fcdnipro.dp.ua/content/ru/?new_stadium |title=Archived copy |access-date=2008-10-13 |url-status=dead |archive-url=https://web.archive.org/web/20081005024532/http://www.fcdnipro.dp.ua/content/ru/?new_stadium |archive-date=5 October 2008}}</ref>
*1968–1972: [[Frankfurt Airport]], [[Frankfurt]]
*2014-2019: Expansion of [[King Khalid International Airport]], [[Riyadh]], [[Saudi Arabia]]<ref>{{cite web |url=https://www.bloomberg.com/news/articles/2015-06-30/hochtief-led-group-seals-1-5-billion-riyadh-airport-contract |title=Hochtief-Led Group Seals $1.5 Billion Riyadh Airport Contract |publisher=bloomberg.com |author=Webb, Alex |date=30 June 2015 |access-date=7 April 2016}}</ref>
*1969–1975: [[New Elbe Tunnel]], [[Hamburg]]<ref name="Elbe">[http://www.hochtief.com/hochtief_en/116.jhtml Elbe tunnel in Hamburg, 1969–1975 and 1997–2003], Hochtief history website. Retrieved 16 February 2006</ref>
*1970–1974: [[Bosphorus Bridge]], Turkey<ref name="Bosporus">[http://www.hochtief.com/hochtief_en/117.jhtml Bosphorus Bridge in Turkey, 1970–1974], Hochtief history website. Retrieved 16 February 2006</ref>
*1974–1981: [[King Abdulaziz International Airport]], [[Jeddah]], Saudi Arabia<ref name="Jeddah">[http://www.hochtief.com/hochtief_en/104.jhtml From the master-builder to the construction corporation (1966–1989), Page 3/3], Hochtief history website. Retrieved 16 February 2006</ref>
*1981–1984: [[Mosul Dam]], [[Iraq]]
*1984–1985: [[Messe Torhaus]], [[Frankfurt am Main]]<ref name=Jeddah/>
*1988–1991: [[Messeturm]], [[Frankfurt am Main]]<ref name="Messeturm">[http://www.hochtief.com/hochtief_en/119.jhtml Exhibition center tower in Frankfurt am Main, 1988–1991], Hochtief history website. Retrieved 16 February 2005; {{Structurae|id=20000123|title=Messe Tower}}</ref>
*1990–1992: Terminal One, [[Warsaw Chopin Airport|Warsaw Airport]], Poland<ref name="Warsaw">[http://www.hochtief.com/hochtief_en/120.jhtml Warsaw International Airport, 1990–1992], Hochtief history website. Retrieved 16 February 2006</ref>
*1994–1996: [[Commerzbank Tower]], [[Frankfurt am Main]]<ref name="Commerzbank">[http://www.hochtief.com/hochtief_en/126.jhtml Commerzbank in Frankfurt am Main, 1994–1996], Hochtief website. Retrieved 16 February 2006; {{Structurae|id=20000122|title=Commerzbank Tower}}</ref>
*1996–2000: [[Athens International Airport]], Greece<ref name="Athens">[http://www.hochtief.com/hochtief_en/542.jhtml System leadership and the public-private partnership from 1990 onwards, Page 2/5], Hochtief history website. Retrieved 16 February 2006</ref>
*1996–2000: Øresund Bridge, [[Copenhagen]] and [[Malmö]], [[Sweden]]
*1998–2000: Kandinsky-Klee house restoration, [[Dessau]]<ref name="Kandinsky-Klee">[http://www.hochtief.com/hochtief_en/132.jhtml The Kadinsky-Klee House], Hochtief website. Retrieved 16 February 2005; [http://www.hochtief.com/hochtief_en/135.jhtml Restoration], Hochtief website. Retrieved 16 February 2006; [http://www.worldheritagesite.org/sites/bauhausweimardessau.html Bauhaus and its sites] {{webarchive|url=https://web.archive.org/web/20060830153851/http://www.worldheritagesite.org/sites/bauhausweimardessau.html|date=30 August 2006}}, http://www.worldheritagesite.org/. Retrieved 16 February 2006</ref>
*2001–2016: [[Gotthard Base Tunnel]], [[Erstfeld]], [[Switzerland]]
*2002–2004: [[Katima Mulilo Bridge]], [[Zambia]] and [[Namibia]]<ref>[http://www.klausdierks.com/Namibian_Roads/Zambezi_bridge.htm Website of] Dr. [[Klaus Dierks]] [http://www.klausdierks.com/FrontpageMain.html], first Deputy Minister for Works, Transport and Communication in independent Namibia, involved in the planning and negotiations for the bridge. Retrieved 15 February 2005.</ref>
*2004–2008: [[Opera Krakowska]], [[Kraków]], Poland<ref>[http://www.opera.krakow.pl/english.php?id=386 The Opera Krakowska: "About us"] Access date: 9 July 2009</ref>
*2005–2008: [[Dnipro Stadium]], Ukraine<ref>{{cite web |url=http://www.fcdnipro.dp.ua/content/ru/?new_stadium |title=Футбольный клуб "Днепр" |access-date=2008-10-13 |url-status=dead |archive-url=https://web.archive.org/web/20081005024532/http://www.fcdnipro.dp.ua/content/ru/?new_stadium |archive-date=5 October 2008}}</ref>
*2007–2016: [[Elbphilharmonie]], [[Hamburg]]
*2009–2011: [[Lake Champlain Bridge (2011–present)|Lake Champlain Bridge]], [[Crown Point, New York]] and [[Chimney Point, Vermont]]
*2009–2012: [[Berlin Ostkreuz station]], Berlin
*2011–2017: [[Queensferry Crossing]], [[Edinburgh]], [[Scotland]]<ref>{{Cite web |date=2017-08-30 |title=Scotland's Queensferry Crossing welcomes first traffic |url=https://www.theengineer.co.uk/content/news/scotlands-queensferry-crossing-welcomes-first-traffic/ |access-date=2024-09-30 |website=The Engineer |language=en}}</ref>
*2014–2019: Expansion of [[King Khalid International Airport]], [[Riyadh]], Saudi Arabia<ref>{{cite web |url=https://www.bloomberg.com/news/articles/2015-06-30/hochtief-led-group-seals-1-5-billion-riyadh-airport-contract |title=Hochtief-Led Group Seals $1.5 Billion Riyadh Airport Contract |publisher=bloomberg.com |author=Webb, Alex |date=30 June 2015 |access-date=7 April 2016}}</ref>
*2016–2020: [[SoFi Stadium]], [[Los Angeles]], [[California]]
*2017–2020: Remodelling od the [[State Opera (Prague)|State Opera]], [[Prague]], [[Czech Republic]]
*Start 2019: [[The Spiral (New York City)|The Spiral]], [[New York City]]<ref>{{Cite web |last=Hillemacher |first=Monika |date=2021-06-17 |title=Im Ausland bauen deutsche Firmen Brücken und grüne Hochhäuser |url=https://www.iz.de/unternehmen/news/-im-ausland-bauen-deutsche-firmen-bruecken-und-gruene-hochhaeuser-161521 |access-date=2024-09-30 |website=[[Immobilien Zeitung]] |language=de}}</ref>
*Start 2019: [[Sydney Metro]]: Pitt Street Station, [[Sydney]], Australia<ref>{{Cite web |date=2019-09-17 |title=Hochtief-Tochter Cimic baut Metrostation in Sydney |url=https://www.sueddeutsche.de/wirtschaft/essen-hochtief-tochter-cimic-baut-metrostation-in-sydney-dpa.urn-newsml-dpa-com-20090101-190917-99-908607 |access-date=2024-09-30 |website=[[Süddeutsche Zeitung]] |language=de}}</ref>

The company is also working on the [[Chacao Channel bridge]] due to be completed in 2025.<ref>{{cite web |url=https://www.researchgate.net/publication/266137787 |title=Chacao Channel bridge |publisher=Conference: 6th International Conference on Case Histories in Geotechnical EngineeringAt: Arlington, VA |date=1 August 2008 |access-date=3 May 2021}}</ref>

== Sustainability ==
In 2022, Hochtief published its Sustainability Plan 2025, aiming for the company’s operations to become climate-neutral by 2045.<ref>{{Cite web |date=2022-12-12 |title=Hochtief ist weltweiter Branchenführer für Nachhaltigkeit |url=http://www.deal-magazin.com/news/2/120745/HOCHTIEF-ist-weltweiter-Branchenfuehrer-fuer-Nachhaltigkeit |access-date=2024-09-26 |website=Deal Magazin |language=de}}</ref> Additionally, the company is listed in the [[Dow Jones Sustainability Indices|Dow Jones Sustainability Index]] by [[S&P Global]].<ref>{{Cite web |last=Göbel |first=Vanessa |date=2023-12-18 |title=Diese Unternehmen sind führend im Dow Jones Sustainability Index |url=https://www.markenartikel-magazin.de/_rubric/detail.php?rubric=marke-marketing&nr=71555 |access-date=2024-09-26 |website=Markenartikel Magazin |language=de-DE}}</ref>

== Bibliography ==


* {{Cite book |last=Pohl |first=Manfred |title=Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert |last2=Siekmann |first2=Birgit |date=2000 |publisher=Piper |isbn=978-3-492-04270-3 |location=München Zürich}}
The company is also working on the [[Chacao Channel bridge]] due to be completed in 2025.<ref>{{cite web|url=https://www.researchgate.net/publication/266137787|title=Chacao Channel bridge|publisher=Conference: 6th International Conference on Case Histories in Geotechnical EngineeringAt: Arlington, VA|date=1 August 2008|access-date=3 May 2021}}</ref>


==Notes and references==
==Notes and references==
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==External links==
==External links==
*{{Official website|http://www.hochtief.com/}}
*{{Official website|https://www.hochtief.com/}}
*[[:de:Albert Vögler]]
*[[:de:Albert Vögler]]
*[[:de:Zeche Zollverein]]
*[[:de:Zeche Zollverein]]
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[[Category:Construction and civil engineering companies established in 1873]]
[[Category:Construction and civil engineering companies established in 1873]]
[[Category:German companies established in 1873]]
[[Category:German companies established in 1873]]
[[Category:Company in the MDAX]]
[[Category:Companies in the MDAX]]
[[Category:Companies listed on the Frankfurt Stock Exchange]]
[[Category:Abu Simbel]]

Latest revision as of 08:14, 24 October 2024

Hochtief AG
Company typePublic Subsidiary
FWBHOT
MDAX Component
ISINDE0006070006 Edit this on Wikidata
IndustryConstruction
Founded1873; 151 years ago (1873)[1]
HeadquartersEssen, Germany
ProductsConstruction services, project management
RevenueIncrease €27.756 billion (2023)[2]
Increase €523 million (2023)[2]
Decrease €314 million (2023)[2]
Total assetsIncrease €19 billion (2023)[2]
Total equityDecrease €1.266 billion (end 2023)[2]
Number of employees
41,575 (end 2023)[2]
ParentACS Group (75.71%)[3]
Websitehochtief.com
The façade of the greater temple at Abu Simbel, moved to escape the rising Nile. The cliff behind the temple is artificial, and was created to allow the temple to be moved to a higher location.

Hochtief AG is a global provider of infrastructure technology and construction services, with locations in North America, Australia, and Europe. The Essen based company is primarily active in the fields of high tech, energy transition, and sustainable infrastructure. With the international projects making up 95% of the company's revenue, Hochtief was among the largest international construction firms in 2023.[4][5]

In Australia, the group is active through its subsidiary Cimic (100% since 2022).[6] Via its wholly owned subsidiary Turner Hochtief is a leader in commercial construction in the United States.[7] Since June 2018, Hochtief has held a 20% stake in Abertis. Abertis directly owns 99.1% of the toll road operator Abertis Infraestructuras.[6]

Since ACS Group first acquired shares in Hochtief in 2005, it has increased its shareholding to 75.71% in 2023.[8]

History

[edit]

Founding and early years

[edit]

In 1873, brothers Philipp Helfmann (a bricklayer) and Balthasar Helfmann (a locksmith), originally from Kelsterbach, founded the company Gebrüder Helfmann in Frankfurt am Main. While Balthasar was responsible for the completion of construction contracts, Philipp developed the financing side of the business.[9] Their first major contract was for the University of Giessen in 1878.[10] By the 1880s, the company had begun to produce its own construction materials but was still only a regional player. Shortly after the death of Balthasar, Philipp Helfmann transformed the company into a joint-stock corporation for building construction and civil engineering named Aktiengesellschaft für Hoch- und Tiefbauten (Construction and Civil Engineering Corporation) in 1896, just before the German Stock Exchange Act came into force.[11]

A major development was the contract for the spa in Bad Orb in 1899, where the order included not just construction of the buildings, but also provision of infrastructure like roads and gardens, arrangement of finances for the project, and maintenance of some responsibilities for operation after the construction. Also in 1899, another turnkey project, a new grain silo in Genoa, Italy, was both the firm's first international venture and its first project using reinforced concrete. Philipp Helfmann died in the same year, with his son-in-law, Hans Weidmann, taking over as Chief Executive.[9]

After the Helfmann brothers

[edit]
Shaft XII at Zollverein colliery was named Schacht "Albert Vögler". The Bauhaus-influenced design combined function with aesthetics.
Share of the Hochtief AG, issued 4. July 1927
Echelsbach Bridge, completed 1929

The firm grew rapidly, but was not comparable with the major German construction companies of the era. In 1921, it attracted investment from the industrialist Hugo Stinnes (described by Time as the "New Emperor of Germany" for his wealth and influence) and in 1922, the firm moved its base to Essen as part of its integration into the Stinnes group.[12] Stinnes planned to use Hochtief for all his construction projects, while Hochtief saw an opportunity to profit from the Treaty of Versailles, organising the delivery of construction materials to France as part of German reparations for World War I. Stinnes died in 1924,[13] and within a year his industrial empire collapsed. With the help of several banks, the company (now known as Hochtief Aktiengesellschaft für Hoch- und Tiefbauten vorm. Gebrüder Helfmann) avoided insolvency. In the aftermath of the Stinnes collapse, the major utility RWE and electrical equipment producer AEG became major shareholders in Hochtief, and Hans Weidmann stepped down in 1927.[9][14]

A series of major construction projects ensued, including the Echelsbach Bridge (then Germany's largest single span reinforced concrete bridge),[15] the Schluchsee dam and work on the Zollverein colliery.[16]

From Nazi Germany to Reconstruction

[edit]
A reconstruction of the layout of the Führerbunker in Berlin, built by Hochtief in 1943. Hitler committed suicide here during the Battle of Berlin in 1945.

From 1933 onwards, the structures of the Third Reich influenced Hochtief’s business activities.[17] Jewish members of the Supervisory Board were expelled under the Nuremberg Laws in 1935. In 1937, CEO Eugen Vögler joined the Nazi Party (NSDAP) and served as leader of the Construction Industry Group as well as an honorary squad leader of the Hitler Youth.[18] The construction business flourished under the four year plan, with its vast public works programme, including the Autobahn network, and the industrial build-up in preparation for war, for example the construction of a new truck factory for Opel in Brandenberg. Hochtief also worked on a new centre for Nazi rallies in Nuremberg. In 1936, it moved its Essen headquarters from the Pferdemarkt to its current location on Rellinghauser Straße. As war became imminent, the company began work on the Westwall defensive network.[19] During World War II, it worked on the Atlantic Wall defences, and a range of infrastructure projects across German-dominated Europe. Hochtief also constructed buildings for Hitler himself, notably his Bavarian Alpine retreat, the Berghof, his Wolf's Lair headquarters in Rastenburg, and the Führerbunker in Berlin, where Hitler ultimately committed suicide.[9][20]

After 1939, the firm began to use forced labour extensively on its projects, as did many other German industrial concerns at the time. Hochtief's slave workers suffered from malnutrition, beating and constant abuse.[21][22]

Reconstruction and international expansion

[edit]
Historic entrance to the former company headquarters
Headquarters of the Group in Essen

1945–1966

[edit]

After the collapse in 1945, Hochtief lost both its international business and its branches in East Germany.[23] Under the leadership of the new CEO, Artur Konrad, operations continued.[24]

The old and new positions of the Abu Simbel temples

One of the first major contracts was for a university hospital in Bonn, between 1946 and 1949. The introduction of the Deutsche Mark in 1948 and the beginning of the Wirtschaftswunder brought more new work.[25]

Josef Müller took over as CEO in 1950. A decision was made to undertake more international projects, following a period of essentially domestic work after World War II. This included a series of power infrastructure works in Turkey and bridge and smelting works construction in Egypt during the early 1950s. Many projects from this period were undertaken outside of the First World, often funded from development aid budgets.[26]

The company gained international recognition for the relocation of the Abu Simbel rock temple (from November 1963 to September 1968, planned by Walter Jurecka, former head of the international division) and the Mandulis Temple of Kalabsha (1961 to 1963). These UNESCO World Heritage sites had to be relocated due to the construction of the Aswan High Dam.[27][28]

The radical Messe Torhaus in Frankfurt, with its "Guillotine"

1967–1989

[edit]

From 1967 onwards, the company’s focus shifted away from purely construction services towards turnkey construction and related services, exemplified by the Hilton Hotel in Athens.[29]

By the mid-1970s, the international business accounted for only a small portion of the company’s activities. Most work was domestic, driven by Germany's strong economic growth, with a particular strength in power plant construction. This included the construction of the Federal Republic of Germany's first nuclear power plant, Kahl Nuclear Power Plant, near Dettingen am Main.[30][31] The construction contract had been awarded by AEG, which had been commissioned by the utility company RWE to build the plant. The plant began to feed its electricity to the grid in June 1961.[32][33] By contrast, the first East German nuclear plant, at Rheinsberg, was connected to the grid in 1966.[34] During the 1960s and 1970s, the company also executed significant transport infrastructure projects. Notable examples include the Raúl Uranga Subfluvial Tunnel in Argentina, the Elbe Tunnel in Hamburg, and the Bosphorus Bridge in Istanbul.[35]

After the 1973 oil crisis, the company benefited from the unexpected wealth of oil-exporting countries. By 1980, foreign work accounted for more than 50% of Hochtief's business. A major factor was the contract for the turnkey construction of King Abdulaziz International Airport (completed in 1981), the largest airport in Saudi Arabia, located in Jeddah, and the most valuable contract Hochtief had ever been involved with.[36] The aesthetics of the architecture of the airport is highly rated, and it has several unusual features, including Terminal Three, used only during the Hajj, reserved for pilgrims travelling to Mecca. It has a tent-shaped fibreglass roof, contains a mosque, can accommodate 80,000 travellers at once, and is believed to be the largest terminal in the world.[37]

When the Messeturm in Frankfurt was completed in 1991, it was Europe's tallest building.

1990–2007

[edit]

After German reunification, the company benefited from the construction boom, although by 1993, slowing economic growth led to increased competitive pressure. Under the leadership of Hans-Peter Keitel initially,[38] and from 2007 Herbert Lütkestratkötter, the company underwent a restructuring.[39] While construction remained the core business, Hochtief also began offering additional services as a construction provider, including the planning, financing, and operation of buildings. Acquisitions were made to support these new business areas.[40] To further this, Hochtief founded new companies and acquired Australia's Leighton Holdings and the US-based Turner Construction.[41]

In 2004, Hochtief transitioned from a subsidiary to a publicly traded company: the sale of the majority shareholder RWE’s shares gave Hochtief a new international shareholder structure.[42] By 2005, around 80% of the company was in free float.[43] Through the acquisition of service companies Siemens Gebäudemanagement[44] and Lufthansa Gebäudemanagement,[45] Hochtief Facility Management, a subsidiary, expanded from 800 to approximately 4,500 employees in 2004. In 2007, Hochtief acquired Flatiron, a provider of infrastructure projects in the United States.[46] Hochtief is also represented in the Gulf region through the Habtoor Leighton Group, a Leighton subsidiary.[47]

Loss of independence

[edit]

In 2005, August von Finck, through his Custodia Holding, acquired a stake in the company, which was increased to 25.08% in 2006.[48][49] In March 2007, the Spanish construction group Actividades de Construcción y Servicios (ACS) purchased Custodia’s shares for €72 per share, with the transaction amounting to over €1.26 billion.[50] Subsequently, ACS acquired more shares, holding 29.9% by September 2010.[51] On 16 September 2010, ACS announced a public takeover bid for the remaining shares, offering an exchange of eight ACS shares for five Hochtief shares. On 29 November, BaFin approved ACS’s takeover of Hochtief. In December, Qatar Holding from the Emirate of Qatar subscribed to a reserved capital increase, acquiring nearly 9.1% of the shares. After improving the offer to nine ACS shares for five Hochtief shares, ACS announced in January 2011 that it held over 30% of Hochtief’s shares following the conclusion of the takeover bid.[52][53] By June 2011, ACS held slightly over 50% of Hochtief’s shares,[54] as shares held by Hochtief itself were voting shares attributed to ACS.

Restructuring and reorganisation

[edit]

In May 2013, Hochtief sold its airports division to Canada's Public Sector Pension Investment Board for €1.1 billion.[55] At the same time, Hochtief began restructuring its loss-making European activities in 2013: The Group spun off the construction business, which had previously been bundled into one unit, into four largely autonomous companies and cut up to 1,000 jobs, primarily in Germany.[56]

In February 2014, the 50% stake in the real estate company Aurelis Real Estate, a former subsidiary of Deutsche Bahn, was sold to an investor consortium led by the private equity firm Grove.[57] Further sales of smaller business units followed. In May 2015, Hochtief’s offshore business was sold to GeoSea, a subsidiary of the DEME Group.[58] However, Hochtief strengthened its activities in the Asia-Pacific region, increasing its stake in the listed Australian subsidiary Leighton Holdings Limited from approximately 58% to 69.62% in 2014.[59]

As part of the reorganisation, the company was renamed from Leighton Holdings to Cimic Group in April 2015.[60]

Developments from the 2020s onwards

[edit]

In 2022, Juan Santamaría Cases assumed his position as CEO of the company, succeeding Marcelino Fernández Verdes.[61] In 2023, Hochtief, together with EWE, was awarded funding under the German government's Deutschlandnetz initiative to establish and operate charging points for electric vehicles.[62]

Organisation

[edit]

Hochtief is an Aktiengesellschaft. Its shares are traded on all German stock exchanges, including the Frankfurt Stock Exchange and Börse München, using the Xetra system. In the 2023 financial year, Hochtief generated revenue of €27.8 billion, with the majority of earnings coming from Hochtief Americas. During the same financial year, 41,575 employees worked for the group.

Shareholder structure

[edit]

Shareholders as of September 2024:

  • Grupo ACS – 75.71%
  • Floating share – 21.07%
  • Treasury shares – 3.21%

Company structure

[edit]

The Hochtief Group operates three divisions with subsidiaries and additionally holds a 20% stake in Abertis HoldCo, S.A.:

Hochtief
Turner Construction Cimic Group Engineering and Construction Abertis

Turner is an American construction management company.[63] It is primarily involved in the delivery of healthcare and education facilities, airports, sports venues, and office buildings.[64] Additionally, Turner is increasingly active in the construction of technical facilities, such as factories for electric vehicles and battery recycling, as well as data centres, including those for the internet company Meta.[65][66][67]

Cimic operates in the Asia-Pacific region, providing construction services for sectors such as education, healthcare, power and energy, transportation, tunnelling, and water.[68][69] Cimic is also active in natural resources, holding stakes in service providers Thiess and Sedgman.[70]

Engineering and Construction encompasses Hochtief's construction activities and PPP business in Europe, along with the civil engineering company Flatiron in North America. In Europe, Hochtief operates in Germany, Poland, the Czech Republic, Austria, the UK, Scandinavia, and the Netherlands.[71]

Hochtief holds a stake in Abertis, a toll road operator with approximately 8,000 kilometres of toll roads in Europe and South America. Abertis operates mainly in France, Spain, Brazil, Chile, the United States, Mexico, and Puerto Rico.[72]

Subsidiaries include Flatiron, CPB Contractors, Leighton Asia (active in Hong Kong and other Southeast Asian countries),[73] and Hochtief Infrastructure.[74]

Products and services

[edit]

The company is mainly active in construction and civil engineering (buildings, bridges, tunnels, etc.). In addition to executing construction projects, Hochtief is also involved in planning and, in some cases, acts as a co-investor. Furthermore, Hochtief is active in the construction and operation of environmental technology facilities, as well as the expansion of digital infrastructure.[66][75][67]

The corporate group also provides services such as organising and consulting on real estate and infrastructure facilities.[5][6]

Urban and social infrastructure

[edit]

Hochtief develops and constructs neighbourhoods and districts that include residential properties, as well as public and commercial facilities.[5][76]

Energy infrastructure and digital infrastructure

[edit]

Hochtief delivers construction and infrastructure services for energy systems, from generation to utilization, and supports digital infrastructure projects like data centers and telecom networks.[63][66][75]

Hochtief is active in the energy infrastructure sector through subsidiaries such as Flatiron in the USA and Canada, CPB Contractors in Australia, Leighton Asia in Hong Kong and Southeast Asia, as well as Hochtief Infrastructure in Germany.[6]

Transport infrastructure

[edit]

In the field of transport infrastructure, the company constructs bridges, railways, stations, airports, and ports, as well as roads, tunnels, and motorways both domestically and internationally, often within the framework of concession models such as public-private partnerships.[6]

Hochtief holds a 20% stake in the internationally operating toll road operator Abertis, which owns approximately 8,000 kilometres of toll roads across several countries.[72]

Mining operations

[edit]

Hochtief is involved in the mining business through Cimic and holds a stake in Thiess, a contract miner. In October 2020, Cimic sold 50% of its stake in its mining subsidiary Thiess to the Elliott Fund Management;[77] in April 2024, Cimic increased its shareholding back to 60%.[78]

Timeline of notable construction projects

[edit]
The Commerzbank Tower surpassed the Messeturm
Elbphilharmonie
Franfurt Airport

Projects Hochtief has been involved in include the Elbphilharmonie in Hamburg, the Gotthard Base Tunnel in Switzerland and the project planning of the Burj Khalifa in Dubai. Hochtief has also worked on various airports, such as those in Frankfurt, Athens, and Warsaw, as well as several expansions of the German motorways. International bridge construction projects include the Øresund Bridge and the Bosphorus Bridge.[79][80]

The company is also working on the Chacao Channel bridge due to be completed in 2025.[104]

Sustainability

[edit]

In 2022, Hochtief published its Sustainability Plan 2025, aiming for the company’s operations to become climate-neutral by 2045.[105] Additionally, the company is listed in the Dow Jones Sustainability Index by S&P Global.[106]

Bibliography

[edit]
  • Pohl, Manfred; Siekmann, Birgit (2000). Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert. München Zürich: Piper. ISBN 978-3-492-04270-3.

Notes and references

[edit]
  1. ^ "Hochtief Konzern Geschichte". Hochtief.
  2. ^ a b c d e f "Hochtief Group Report 2023". Hochtief. Retrieved 30 September 2023.
  3. ^ "ACS Actividades de Construccion y Servicios company: Shareholders, managers and business summary – Bolsa de Madrid: ACS - 4-Traders". 4-traders.com.
  4. ^ "ENR's 2023 Top 250 International Contractors". Engineering News-Record. Retrieved 30 September 2024.
  5. ^ a b c "Hochtief AG, Essen". North Data (in German). Retrieved 30 September 2024.
  6. ^ a b c d e "Konzernabschluss zum Geschäftsjahr vom 1.1.2023 bis zum 31.12.2023" [Annual Report 2023]. Unternehmensregister. 18 March 2024.
  7. ^ "ENR 2023 Top 400 Contractors 1–100". Engineering News-Record. Retrieved 30 September 2024.
  8. ^ "Group Report 2023" (PDF). Handelsblatt. 22 February 2024. p. 61.
  9. ^ a b c d "History". Hochtief. Retrieved 26 September 2024.
  10. ^ a b "University of Giessen". Hochtief. Retrieved 26 September 2024.
  11. ^ Pohl, Manfred; Siekmann, Birgit (2000). Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert. München Zürich: Piper. pp. 45f. ISBN 978-3-492-04270-3.
  12. ^ Pohl, Manfred; Siekmann, Birgit (2000). Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert. München Zürich: Piper. p. 92. ISBN 978-3-492-04270-3.
  13. ^ Pohl, Manfred; Siekmann, Birgit (2000). Hochtief und seine Geschichte: von den Brüdern Helfmann bis ins 21. Jahrhundert. München Zürich: Piper. p. 81. ISBN 978-3-492-04270-3.
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