STRABAG SE Trading Statement 9M/2024: Strong order growth in the first nine months of 2024
14 November 2024
- Output stable at a high level of € 13.6 billion
- Order backlog up 8% to € 25.3 billion since 31 December 2023, +4% year-on-year
- Outlook for 2024 confirmed: output volume of around € 19.4 billion, EBIT margin ≥ 4%
| STRABAG SE | 9M/2024 |
9M/2023 |
in % |
|---|---|---|---|
| Output volume | 13,618.21 |
13,642.34 |
0% |
| Order backlog | 25,335.23 |
24,361.94 |
4% |
| Employees (FTE) | 77,953 |
76,632 |
2% |
| North + West | 9M/2024 |
9M/2023 |
in % |
|---|---|---|---|
| Output volume | 5,874.35 |
5,921.14 |
-1% |
| Order backlog | 12,206.23 |
11,554.11 |
6% |
| Employees (FTE) | 22,237 |
21,991 |
1% |
| South + East | 9M/2024 |
9M/2023 |
in % |
|---|---|---|---|
| Output volume | 5,268.07 |
5,434.95 |
-3% |
| Order backlog | 8,151.41 |
7,529.27 |
8% |
| Employees (FTE) | 26,715 |
26,855 |
-1% |
| International + special divisions | 9M/2024 |
9M/2023 |
in % |
|---|---|---|---|
| Output volume | 2,288.01 |
2,114.11 |
8% |
| Order backlog | 4,954.52 |
5,251.45 |
6%- |
| Employees (FTE) | 21,373 |
20,210 |
6% |
| Other | 9M/2024 |
9M/2023 |
in % |
|---|---|---|---|
| Output volume | 187.78 |
172.14 |
9% |
| Order backlog | 23.07 |
27.11 |
-15% |
| Employees (FTE) | 7,628 |
7,576 |
1% |
STRABAG SE, the publicly listed European technology group for construction services, today announced its figures for the first nine months of 2024. “After nine months, we see ourselves confirmed in our assessment for business development in 2024. Particularly encouraging is the increase in our order backlog by around € 1.9 billion to € 25.3 billion in the year to date, a growth trend that has continued beyond the third quarter. The basis for this development is the good mix of new orders, above all in projects related to the energy transition. This applies in particular to our infrastructure and services business. Our order backlog already gives us good visibility towards 2026 and a solid starting position for the coming year,” says Klemens Haselsteiner, CEO of STRABAG SE.
Output volume
STRABAG SE was able to maintain its output at a high level during the first nine months of 2024, generating a volume of € 13,618.21 million. The largest increases were recorded in Poland, in Germany, and in tunnelling and transportation infrastructures in Italy, while declines were registered in Austria and Hungary. The downturn in the residential construction market in Austria is negatively impacting the output volume as expected.
Order backlog
After exceeding the € 25 billion mark for the first time in the first half of the year, the order backlog was increased further to € 25,335.23 million by the end of the third quarter. This corresponds to a year-on-year increase of 4%. The largest growth in absolute terms was recorded in Germany, Poland and Slovakia. Significant bridge construction and grid expansion projects for the energy transition were acquired in the home market of Germany in the third quarter. The order backlog in the United Kingdom and in Hungary decreased due to the ongoing fulfilment of large projects there. A decline was also observed in Austria owing to the challenging conditions in building construction.
Employees
The average number of employees in the first nine months of 2024 stood at 77,953 FTEs, a plus of 2% compared to the same period of the previous year. The largest increases were recorded in Germany and the Benelux countries as a result of acquisitions in mechanical and electrical (M&E) services and energy management within the property and facility services portfolio.
Outlook
The Management Board continues to expect an output volume of around € 19.4 billion for the full 2024 financial year. By segment, growth is projected in International + Special Divisions, with a largely stable outlook in North + West and a decline at a continued high level in South + East. The guidance for an EBIT margin of at least 4% remains unchanged. The outlook for net investments (cash flow from investing activities) is being raised from a previous maximum forecast of € 750 million to a maximum of € 800 million in 2024.
