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© STRABAG
© STRABAG
Company News

STRABAG SE Trading Statement 9M 2020: Figures confirm the outlook

  • Output volume down 9 % to € 11.1 billion 
  • Order backlog up 7 % to € 19.0 billion
  • 2020 outlook confirmed: output volume at € 15.0 billion, EBIT margin expected to reach at least 3.5 %
STRABAG SE
9M/2020
9M/2019
in %
Output volume
11,099.85
12,150.23
-9%
Order backlog
18,962.07
17,733.68
7%
Employees
74,169
76,875
-4%
North + West
9M/2020
9M/2019
in %
Output volume
5,707.72
5,848.53
-2%
Order backlog
9,583.15
8,843.12
8%
Employees
25,697
25,161
2%
South + East
9M/2020
9M/2020
in %
Output volume
3,294.79
3,528.95
-7%
Order backlog
4,486.08
4,642.64
-3%
Employees
20,218
19,547
3%
International + Special Divisions
9M/2020
9M/2019
in %
Output volume
1,991.56
2,677.03
-26%
Order backlog
4,887.63
4,243.94
15%
Employees
21,589
25,728
-16%
Other
9M/2020
9M/2019
in %
Output volume
105.78
95.72
11%
Order backlog
5.21
3.98
31%
Employees
6,665
6,439
4%

STRABAG SE, the publicly listed European-based technology group for construction services, today announced its figures for the first nine months of 2020. “We have seen a continuation of the trend observed in the previous quarters: the decline in output is in line with expectations for the year as a whole, and the order backlog remains very high. We are therefore staying with the outlook for 2020,” says Thomas Birtel, CEO of STRABAG SE.

Output volume

In the first three quarters of 2020, STRABAG SE generated an output volume of € 11,099.85 million, 9 % less than in the same period of the previous year. This is largely due to the same three factors as reported in the semi-annual report: the loss of a German key account in the property and facility services business resulting from an expired contract in mid-2019, the temporary halt to construction activity due to the coronavirus crisis in Austria, and the performance and completion of tunnelling projects in Chile.

Order backlog

The order backlog as per 30 September 2020 amounted to € 19.0 billion, up 7 % on the same date in the previous year. The execution of large orders in the Americas, Hungary and Poland, among other places, was contrasted by new large orders and contract extensions in tunnelling in the United Kingdom and a significant increase in the order backlog in Germany. The company added several substantial projects to its order books in Germany in the third quarter of 2020, including a major contract for Deutsche Bahn and the award of the A49 motorway project in Hesse under a public-private partnership (PPP) scheme. Further projects acquired in the third quarter include the expansion of the water supply system in Ghana as well as railway modernisation works along a 9.6 km section in the Czech Republic and a 11.2 km section in Bulgaria.

Employees

The reduced output is also reflected in the lower number of employees, which fell by 4 % to 74,169 compared to the first nine month of the previous year. Due to the aforementioned loss of a large, long-running contract in the Property & Facility Services segment in the previous year, the greatest decline was recorded in Germany, followed by project-related staff reductions in the Middle East. Developments in the other markets were mixed.

Outlook

The Management Board confirms its outlook for the 2020 financial year as updated in August and anticipates a decrease in the output volume to approx. € 15.0 billion (-10 %). At the same time, it should still be possible to attain an EBIT margin of at least 3.5 % as had been previously expected. Net investment (cash flow from investing activities) is not expected to exceed € 450 million.

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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.