EQS-News: STRABAG SE demonstrates resilience and achieves best result to date

EQS-News: STRABAG SE / Key word(s): Annual Results
   STRABAG SE demonstrates resilience and achieves best result to date

   28.04.2025 / 07:00 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   STRABAG SE demonstrates resilience and achieves best result to date

     • Output volume slightly above previous year at € 19.2 billion
     • New record order backlog of € 25.4 billion (+8% vs. 2023)
     • EBIT margin above expectations at 6.1% (2023: 5.0%)
     • Dividend proposal of € 2.50 per share (2023: € 2.20)
     • Outlook for 2025: output volume of around € 21.0 billion, EBIT margin
       ≥ 4.5%
     • Online Annual and Sustainability Report 2024 available at
       report.strabag.com

    

                              2024      2023      %    6M/24     6M/23     %
   Output volume         € mn 19,238.80 19,139.14 1    8,329.29  8,258.62  1
   Revenue               € mn 17,422.22 17,666.54 -1   7,462.39  7,684.37  -3
   Order backlog         € mn 25,362.47 23,466.13 8    25,191.89 24,320.48 4
   EBITDA                € mn 1,644.18  1,418.31  16   358.87    351.14    2
   EBITDA margin         %    9.4       8.0            4.8       4.6        
   EBIT                  € mn 1,061.89  880.20    21   81.92     87.35     -6
   EBIT margin           %    6.1       5.0            1.1       1.1        
   Net income after min. € mn 823.00    630.51    31   91.51     74.14     23
   Earnings per share    €    7.35      6.30      17                       14
                                                       0.84      0.74
   Employees             FTE  78,174    77,136    1    77,337    75,551    2

   STRABAG SE, the publicly listed European technology group for construction
   services, faced a mixed market environment in 2024. Driven by strong
   momentum in infrastructure and challenges in building construction, the
   company delivered strong performance. Once again, STRABAG demonstrated its
   ability to offset declining trends in individual construction segments.
   This is due to its broad positioning, not only by segment, but also by
   geography, client structure, and project scale.

   Stefan Kratochwill, CEO of STRABAG SE: “We have once again proven our
   economic strength in 2024 – in a year with tailwind from the
   infrastructure sector and headwind in building construction. In numbers,
   this means nothing less than the best result in our company history. A
   record order backlog with pioneering projects in areas including
   infrastructure, energy, and high-tech production – particularly in the
   semiconductor industry – provides a promising foundation for the future.”

   Output volume, revenue and order backlog
   The STRABAG SE Group generated an output volume of € 19,238.80 million in
   the 2024 financial year, representing a slight increase of 1% or € 100
   million. The consolidated Group revenue amounted to € 17,422.22 million.
   The operating segments North + West contributed 41%, South + East 41% and
   International + Special Divisions 18% to the revenue. After exceeding the
   € 25 billion mark for the first time in the first half of the year, the
   order backlog was increased further to € 25,362.47 million by the end of
   2024, which corresponds to an increase of € 1.9 billion or 8% compared to
   the previous year.

   Financial performance
   The earnings before interest, taxes, depreciation and amortisation
   (EBITDA) increased by 16% to € 1,644.18 million. In a year-on-year
   comparison, this corresponds to a noticeable increase in the EBITDA margin
   from 8.0% to 9.4%. In line with the higher investments as part of the
   Strategy 2030, depreciation and amortisation expense increased as expected
   by 8% to € 582.29 million.

   The earnings before interest and taxes (EBIT) exceeded the € 1.0 billion
   mark for the first time in 2024, amounting to € 1,061.89 million. This
   resulted in a significant increase in the EBIT margin from 5.0% to 6.1%.
   The EBIT margin in the 2024 financial year was considerably higher than
   originally projected, mainly due to positive earnings effects in the North
   + West segment and – compared to the previous year – lower negative
   effects on earnings in the volatile international project business.

   The net interest income again rose sharply year-on-year, increasing from €
   44.13 million to € 75.42 million. This growth was primarily due to the
   higher interest income, caused by the continued high interest rates in
   2024 and STRABAG SE’s high net cash position.

   The income tax rate was 27.2%, considerably lower than in the previous
   year. This was due to a lower shortfall in tax relief on large-scale
   projects. The net income totalled € 828.33 million, up 31% from the
   previous year’s level.

   The earnings owed to minority shareholders totalled € 5.33 million,
   compared to € 2.89 million in the previous year. The net income after
   minorities increased by 31% to € 823.00 million, the highest figure since
   the company’s inception. The earnings per share amounted to € 7.35 (2023:
   € 6.30). 

   Financial position and cash flows
   The total of assets and liabilities grew by 7% year on year to € 14,674.58
   million. On the assets side, the increase was mainly due to higher
   inventories and cash and cash equivalents. Growth was also seen in the
   Group’s investment property, attributable to the establishment of the
   STRABAG Hold Estate portfolio for the purpose of managing long-term,
   strategic real estate holdings.

   The equity at the end of 2024 amounted to € 5,000.37 million, marking the
   first time that this figure has reached the € 5.0 billion mark. The equity
   ratio rose to 34.1% (31 December 2023: 32.2%) due to the exceptionally
   high earnings in the reporting year and so remains comfortably above the
   Group’s minimum target of 25%. STRABAG SE reported another net cash
   position as at 31 December 2024, with a noticeable increase to € 2,905.25
   million due to higher cash and cash equivalents.

   The cash flow from operating activities decreased to € 1,387.21 million in
   the year under review (2023: € 1,816.51 million); this figure is still at
   the upper end of the multi-year average, however. While cash flow from
   earnings increased year-on-year, working capital remained largely
   unchanged following the unexpected reduction in the previous year. A
   reduction in advance payments has not yet materialised. 

   The cash flow from investing activities was, as expected, more negative
   due to higher investments in line with the Group Strategy 2030 and
   amounted to € -749.54 million (2023: € -654.87 million). An increase in
   investment property was recorded due to the establishment of the STRABAG
   Hold Estate portfolio and in property, plant and equipment.

   The cash flow from financing activities was less negative at €  -353.69
   million (2023: €  -430.58 million). The previous year’s figure included
   the cash outflow from the acquisition of own shares tendered as part of an
   anticipatory mandatory takeover offer by the Austrian core shareholders.
   The absence of this effect more than offset the higher dividend
   distribution in the financial year 2024.

   Outlook
   The Management Board expects a significant increase in output volume to
   approximately € 21 billion in the 2025 financial year. This forecast is
   based on the high order backlog and on the expected contributions from
   recent acquisitions. An increase in output volume is forecast for all
   operating segments in 2025. While several positive earnings effects
   coincided in 2024, the EBIT margin is expected to normalise again in 2025.
   In light of the first tangible effects of the Group Strategy, the
   Management Board is raising the EBIT margin target for 2025 to ≥ 4.5%.

   STRABAG SE’s Annual and Sustainability Report is available as a complete
   online report at report.strabag.com.

   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 through 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.

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   28.04.2025 CET/CEST This Corporate News was distributed by EQS Group.
   www.eqs.com

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   Language:    English
   Company:     STRABAG SE
                Donau-City-Straße 9
                1220 Vienna
                Austria
   Phone:       +43 1 22422 – 1089
   Fax:         +43 1 22422 - 1177
   E-mail:      investor.relations@strabag.com
   Internet:    www.strabag.com
   ISIN:        AT000000STR1
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 2123644


    
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   2123644  28.04.2025 CET/CEST

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