CIMIC Group announced that it has completed an extensive strategic review of its financial investment of a non-controlling 45% interest in BIC Contracting (BICC), a company operating in the Middle East region. In this context, CIMIC has reassessed its financial exposure to BICC, mainly shareholder loans and financial guarantees. CIMIC will recognize a one-off post-tax impact of around EUR 1.1 billion in its 2019 financial statements, representing all of CIMIC’s exposure in relation to BICC. The aforementioned impact includes an expected cash outlay, net of tax, of around EUR 0.4 billion during 2020, as CIMIC’s financial guarantees of certain BICC liabilities materialize. CIMIC has committed facilities and cash available to meet all obligations as required. Consequently, CIMIC will not declare a final dividend for 2019. Accordingly, HOCHTIEF group will recognise a one-off, post-tax, impact of around EUR 0.8 billion, after minorities, in its 2019 financial statements. The aforementioned impact includes an expected cash outlay, net of tax, of around EUR 0.4 billion during 2020. Excluding the BICC impact, CIMIC expects to report Net profit after tax (NPAT) for 2019 of around AUD 800 million, in line with its 2019 guidance.