A bullish Strabag adjusts upwards its 2019 outlook

We now expect the output volume to clearly exceed €15 billion and the operating EBIT margin to attain at least last year’s level of 3.3%. These forecasts lead us to anticipate another record year,” said Thomas Birtel, chief executive Strabag.

Output volume was just over €11.6 billion in the first nine months of the 2018 financial year. The company statement said that this upwards movement of 12 % was driven especially by the German building construction and civil engineering business as well as by the markets in Americas, Austria and Poland. Consolidated group revenue grew by 14%.

The order backlog increased by 13% over the level of 30 September 2017 to a little more than €18 billion.

“Contributing to this development once more were numerous new large orders in the group’s largest markets, above all in Germany, Poland and Hungary. A significant development, too, was the contract extension for the Alto Maipo tunnelling project in Chile in the second quarter of 2018 with a value in the triple-digit million-euro range.”