EQS-News: STRABAG SE / Key word(s): Quarter Results
STRABAG SE Trading Statement Q1/2024: Continued high order backlog as
solid basis for rest of year
29.05.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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STRABAG SE Trading Statement Q1/2024: Continued high order backlog as
solid basis for rest of year
• Slight output growth of 2%
• Order backlog stable year-on-year, plus of 5% to € 24.6 billion
compared to year-end 2023
• Outlook for 2024 confirmed: output volume around € 19.4 billion, EBIT
margin ≥ 4%
STRABAG SE 3M/2024 3M/2023 %
Output volume 3,436.11 3,384.71 2%
Order backlog 24,553.29 24,510.68 0%
Employees (FTE) 75,482 73,747 2%
NORTH + WEST 3M/2024 3M/2023 %
Output volume 1,499.23 1,504.49 0%
Order backlog 11,666.22 10,601.18 10%
Employees (FTE) 21,918 21,426 2%
SOUTH + EAST^1) 3M/2024 3M/2023 %
Output volume 1,166.94 1,162.89 0%
Order backlog 7,615.83 8,488.51 -10%
Employees (FTE) 25,026 25,159 -1%
INTERNATIONAL + SPECIAL DIVISIONS^1) 3M/2024 3M/2023 %
Output volume 704.51 658.17 7%
Order backlog 5,247.66 5,326.39 -1%
Employees (FTE) 20,893 19,569 7%
OTHER 3M/2024 3M/2023 %
Output volume 65.43 59.16 11%
Order backlog 23.58 94.60 -75%
Employees (FTE) 7,645 7,593 1%
1) The construction materials business, previously reported as part of
International + Special Divisions, was integrated into the South + East
segment with retroactive effect from 1 January 2023. The previous year’s
figures have been adjusted accordingly.
STRABAG SE, the publicly listed European technology group for construction
services, today announced its figures for the first quarter of 2024. “The
trends observed in the previous year continued into the first quarter of
2024. The situation in individual markets remains challenging, and there
are still no signs of a reversal in residential construction. These
developments notwithstanding, we were able to increase our order backlog
to € 24.6 billion compared to the end of 2023, giving us a solid basis for
the rest of the year. We expect to see positive momentum above all from
forward-looking projects in energy infrastructure and in reconstruction,
conversion and refurbishment,” says Klemens Haselsteiner, CEO of STRABAG
SE.
Output volume
The STRABAG SE Group generated an output volume of € 3.4 billion in the
first quarter of 2024, a slight increase of 2% compared to the same period
of the previous year. The largest increases in absolute terms were
recorded in the core markets of Germany, Poland and Romania. The output
fell in Austria, among other places, due to the sharp decline in the
residential construction market.
Order backlog
The order backlog as at 31 March 2024 remained stable at a high level of €
24.6 billion year-on-year. Compared to the end of 2023, this figure grew
by 5%, attributable to successful project acquisitions in the first
quarter of the current year. New projects include the construction of a
shipping lock in Kriegenbrunn (Germany), the expansion of a rapid transit
line in Toronto (Canada) and the construction of a bridge over the river
Oder near Nędza (Poland).
In a year-on-year comparison, the order backlog increased the most in
Germany, Poland and the Middle East. Declines were recorded in Austria
and, due to the ongoing fulfilment of large projects, in the United
Kingdom.
Employees
The average number of employees in the first quarter of 2024 was 75,482
FTEs, a plus of 2% over the previous year. The largest increase was
recorded in Germany, particularly due to an acquisition in the property
and facility services sector. Employee numbers were increased to a lesser
extent in the United Kingdom and Romania, among other places, to
accommodate projects in those regions.
Outlook for 2024
“The construction industry remains challenging in individual European
markets. With the expected interest rate cuts, however, the environment
should gradually improve starting in the second half of 2024,” says
Klemens Haselsteiner, CEO of STRABAG SE. Based on the continued high order
backlog and the diversified positioning of the STRABAG Group, the
Management Board confirms its construction output target of € 19.4 billion
for 2024 for the time being. An EBIT margin of at least 4% is expected
this year as well. Net capital expenditure is also forecast to reach up to
€ 750 million.
STRABAG SE is a European-based technology group for construction services,
a leader in innovation and financial strength. Our activities span all
areas of the construction industry and cover the entire construction value
chain. We create added value for our clients by taking an end-to-end view
of construction over the entire life cycle – from planning and design to
construction, operation and facility management to redevelopment or
demolition. In all of our work, we accept responsibility for people and
the environment: We are shaping the future of construction and are making
significant investments in our portfolio of more than 250 innovation and
400 sustainability projects. Through the hard work and dedication of our
approximately 86,000 employees, we generate an annual output volume of
around € 19 billion.
Our dense network of subsidiaries in various European countries and on
other continents extends our area of operation far beyond the borders of
Austria and Germany. Working together with strong partners, we are
pursuing a clear goal: to design, build and operate construction projects
in a way that protects the climate and conserves resources. More
information is available at www.strabag.com.
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29.05.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: STRABAG SE
Donau-City-Straße 9
1220 Vienna
Austria
Phone: +43 1 22422 – 1089
Fax: +43 1 22422 – 1177
E-mail: investor.relations@strabag.com
Internet: www.strabag.com
ISIN: AT000000STR1, AT0000A36HJ5
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1912651
End of News EQS News Service
1912651 29.05.2024 CET/CEST