European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank47

Germany · Industrials

Hochtief

Develops, invests in, designs, constructs and operates projects in advanced technology, energy transition, sustainable mobility and large-scale civil engineering.

+46%revenue growth
FY2022–FY2025
+87%net-income growth
FY2022–FY2025
+625%stock return
FY2022–FY2025
+35%2026 stock return
current context only

Company profile

From construction manager to infrastructure co-investor

HOCHTIEF is not one contractor playing the same role on every asset. The group works through Turner in North American buildings and advanced technology, CIMIC companies in Australia and Asia, HOCHTIEF Infrastructure in Europe and a 38.2% stake in North American civil engineer FlatironDragados. Depending on the project, it may lead a construction consortium, deliver through a specialist subsidiary, co-invest or remain involved in operation; it does not own or operate every bridge, railway or power asset it builds.

Transport megaprojects

Three pylons above Scotland, three tunnels beneath Munich

As leader of a consortium, HOCHTIEF built the 2.7-kilometre Queensferry Crossing with three 207-metre pylons, connecting roads and wind protection. In Munich, a separate 50:50 joint venture with Implenia, under HOCHTIEF Infrastructure's technical leadership, is constructing two traffic tunnels, a rescue tunnel, an underground station and a track underpass over roughly three kilometres, with completion scheduled for May 2033. In both cases HOCHTIEF is a contractor, not the road or rail operator.

Digital infrastructure

Six gigawatts built, then a planned fifteen-site edge network

HOCHTIEF says its companies have delivered about 6 GW of data-centre capacity. Turner is applying that experience to Meta's planned 1 GW, four-million-square-foot campus in Lebanon, Indiana, as one of the contractors. In Germany, the first YEXIO edge site entered operation in September 2025: HOCHTIEF PPP Solutions and Palladio Partners delivered it, while HOCHTIEF PPP Solutions jointly operates the network with Thomas-Krenn.AG. Mass timber, water cooling, waste-heat use and renewable power underpin the first facility. Heiligenhaus is the first operating site in a planned fifteen-site network; the remaining sites should not yet be described as operating.

Energy infrastructure

A solar farm on a gold mine and 148 kilometres of new grid

At the 50 MW Kidston Solar Farm in Queensland, CIMIC company UGL delivered engineering, procurement, construction, testing and commissioning and now operates the facility; HOCHTIEF reports 535,000 panels and electricity equivalent to 26,500 households. For Transgrid's HumeLink West, a UGL and CPB Contractors joint venture is delivering 148 kilometres of 500 kV transmission line, two new substations and an existing-substation upgrade. The same site uses portable EcoPro solar-and-battery systems designed by CPB; the joint venture builds the grid assets but does not own them. A UGL film from White Rock makes the design-build-operate model visible.

Critical minerals

Invest, engineer and build a planned lithium chain

For Vulcan Energy's planned Lionheart project in Germany, HOCHTIEF agreed an investment package of up to EUR 169 million. Sedgman and HOCHTIEF Infrastructure were appointed engineering, procurement and construction-management contractor for a lithium-extraction plant and central lithium plant, while HOCHTIEF is preferred for civil works. The planned annual capacity is 24,000 tonnes of battery-grade lithium hydroxide monohydrate, which the companies equate to about 500,000 electric-vehicle batteries. These are future targets, not current production, and HOCHTIEF has not been named plant operator.

Current 2026 update

What has changed in 2026?

Contract update on 22 July 2026 · 22 July 2026

Contract update on 22 July 2026latest official update
4company-specific highlights
+35%2026 stock return · context only

Sales

First-quarter sales rose 5.3% to EUR 9.39 billion; the company reported 14% growth after currency adjustment.

Three months ended 31 March 2026 · EUR 9,394m · +5.3%

Operational net profit

Operational net profit increased 29.9% to EUR 217 million, while nominal net profit fell 31.8% to EUR 210 million from EUR 308 million.

Three months ended 31 March 2026 · EUR 217m · +29.9%

2026 outlook

HOCHTIEF reiterated 2026 operational net-profit guidance of EUR 950 million to EUR 1,025 million.

Three months ended 31 March 2026

Narrogin Wind Farm

CIMIC companies UGL and CPB Contractors were selected to build the 179 MW Narrogin Wind Farm, using 23 turbines, with work starting in the current quarter.

Contract update on 22 July 2026

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202547+46%+87%+625%