STRABAG informs on future reporting for first and third quarters
9 April 2019
- Significance of Q1 figures severely limited in the construction industry
- First and third quarter reports to be replaced by a trading statement: output volume, order backlog, employee numbers, outlook
- Trading statement can be made available sooner
With the amendment of the Vienna Stock Exchange’s prime market rules in February 2019, it is up to the listed companies to decide whether and how they report on the first and third quarters of the year. STRABAG, the Vienna Stock Exchange-listed company for construction services, welcomes this initiative by the Vienna Stock Exchange to give the issuers greater opportunities for self-determination.
The construction sector is subject to strong seasonality. Due to weather conditions, the output volume in the first quarter is usually comparatively low, which is why the informative value of the figures is very limited – in particular, they do not provide any indication of the development in the following months. A comparison of a quarter with its previous quarter is – in contrast to other industries – not meaningful.
After considering the interests of all stakeholders, STRABAG has therefore decided not to prepare IFRS financial statements in the first and third quarters of the year. These will be replaced by the publication of a trading statement that will include the output volume, order backlog and employee numbers as well as an update of the outlook for the respective financial year. The trading report can be made available closer to the end of the quarter than was the case with the quarterly reports.
For STRABAG, it is important to inform the capital market of developments continuously, transparently and quickly. With the publication of a trading statement, this remains guaranteed. A semi-annual report will be published unchanged in terms of its scope. The new release dates can be found in the updated company calendar.
