STRABAG SE Trading Statement Q1 2021: Order backlog exceeds € 20 billion for the first time in the group’s history
27 May 2021
- Output volume down 2 % due to adverse weather conditions
- Order backlog at record level of € 20.1 billion
- 2021 outlook confirmed: output volume slightly above previous year’s level of € 15.4 billion, EBIT margin below 4.0%
| STRABAG SE | 3M/2021 |
3M/2020 |
in % |
|---|---|---|---|
| Output volume |
2,735.27 |
2,802.98 |
-2% |
| Order backlog | 20,051.37 |
17,701.94 |
13% |
| Employees | 71,292 |
73,502 |
-3% |
| North + West | 3M/2021 |
3M/2020 |
in % |
|---|---|---|---|
| Output volume |
1,354.62 |
1,434.50 |
-6% |
| Order backlog | 9,987.05 |
9,050.28 |
10% |
| Employees | 25,065 |
25,149 |
0% |
| South + East | 3M/2021 |
3M/2020 |
in % |
|---|---|---|---|
| Output volume |
754.28 |
688.04 |
10% |
| Order backlog | 5,148.15 |
4,734.59 |
9% |
| Employees | 18,762 |
18,672 |
0% |
| International + Special Divisions | 3M/2021 |
3M/2020 |
in % |
|---|---|---|---|
| Output volume |
599.97 |
651.98 |
-8% |
| Order backlog | 4,906.32 |
3,912.79 |
25% |
| Employees | 20,607 |
23,006 |
-10% |
| Other | 3M/2021 |
3M/2020 |
in % |
|---|---|---|---|
| Output volume |
26.40 |
28.46 |
-7% |
| Order backlog | 9.85 |
4.28 |
130% |
| Employees | 6,858 |
6,675 |
3% |
STRABAG SE, the publicly listed European-based technology group for construction services, today announced its figures for the first quarter of 2021. “For the first time in our group’s history, the order backlog exceeds the € 20 billion mark, driven by large-scale projects in Germany and the UK, but also by smaller projects, for example in the continued stable residential and office construction sector,” says Thomas Birtel, CEO of STRABAG SE.
Output volume
The STRABAG SE Group generated an output volume of € 2.7 billion in the first quarter of 2021, down 2 % in a year-on-year comparison. Whereas the mild winter of the previous year had made it possible to work well in all markets during the same quarter (with the exception of Austria, where there was a temporary suspension of construction activity due to the lockdown), the cold temperatures in February and March of this year led to a reduction in construction output. In addition, a major tunnelling project in Chile was almost completed in the course of the year.
Order backlog
The order backlog reached a new record level of € 20.1 billion (+13 % compared with 31 March 2020). Large-scale motorway projects in Germany, Hungary and Poland were acquired in transportation infrastructures. In building construction, investment restraint has been noticeable in several segments, such as hotels, while acquisitions were made for a number of residential projects. Overall, Germany and the UK made the strongest contributions to the growth of the order backlog, though Austria also recorded an increase of 30 %. The order backlog was down in Poland, Serbia and the Benelux countries.
Employees
The number of employees decreased by 3 % to 71,292, with the reduction concentrated in the International + Special Divisions segment. In the Americas region, employee numbers declined due to the previously mentioned completion of a major tunnelling project. Employee figures in the remaining markets were mixed but showed virtually no change from a net perspective.
Outlook
The Management Board continues to expect an output volume slightly above the previous year’s level in the 2021 financial year, i.e. above € 15.4 billion. In view of the current price developments for building materials in all core markets, the previously announced normalisation of the EBIT margin to below 4 % can be confirmed. Net investment (cash flow from investing activities) is not expected to exceed € 450 million.
