Overview
- Hochtief was added to Germany’s DAX index on Monday, June 22, 2026, replacing Porsche SE and joining the 40 largest listed German companies.
- The promotion follows a more-than threefold rise in Hochtief’s share price over the past year that lifted its market value to about €38–39 billion.
- Analysts and company reports attribute the rally mainly to large contracts to build data centres for artificial intelligence, together with big infrastructure and defence orders.
- Hochtief meets DAX rules despite concentrated ownership because ACS holds roughly 80% while about 20% of shares are free float, a level of liquidity deemed sufficient for inclusion.
- Management says the group will focus on AI-related infrastructure, defence work, digitalisation and involvement in small modular reactors, and the move is expected to force passive funds to rebalance and increase investor attention on Hochtief’s Turner and Cimic units and record order backlog.