Development of the business segments

• Brisk new business with good earnings potential
• Successful sale of projects to financial investors
• Net present value of the portfolio substantially higher than book value

The Concessions business segment recorded brisk new business over the past year. In Germany, public acceptance of privately-financed solutions in public-sector building construction is growing. Here we received the order to realize the Burg correctional facility near Magdeburg. In Canada, Northern Ireland and Norway we are carrying out three new transportation projects. The investment volume of the new projects totals € 1.4 billion; our equity commitment amounts to € 62 million.

As part of our portfolio policy, we sold the British Embassy in Berlin, schools in the English county of Wiltshire and a hospital in the City of Hull (northern England) to financial investors at attractive conditions. On the secondary market there is currently great interest in the purchase of mature projects which no longer carry the risks of design, construction and commissioning. Along with the long-term expansion of our portfolio, the sale of individual projects remains an alternative by which disproportionately high value increases can be realized in the initial phases of the life cycle of concessions projects.

Key figures for Concessions

Concessions: equity investment by region