EQS-News: Semi-Annual Report 2026: STRABAG SE increases earnings and raises 2026 guidance

EQS-News: STRABAG SE / Key word(s): Half Year Results
   Semi-Annual Report 2026: STRABAG SE increases earnings and raises 2026
   guidance

   28.08.2026 / 07:00 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Semi-Annual Report 2026: STRABAG SE increases earnings and raises 2026
   guidance

     • Output up 12%, reaching € 10 billion at half-year mark for first time
     • Order backlog at record level of € 36 billion, plus of 27%
     • EBIT of € 174 million (+35%), net income at € 119 million (+25%)
     • 2026 guidance raised: output close to € 23 billion, EBIT margin of
       5.5–6%

    

   STRABAG SE                        6M/2026   6M/2025   Δ %
   Output volume                     9,982.67  8,905.19  12
   Order backlog                     35,985.22 28,366.22 27
   Employees (FTE)                   80,923    79,159    2
                                                          
   NORTH + WEST                      6M/2026   6M/2025   Δ %
   Output volume                     4,291.83  3,640.49  18
   Order backlog                     14,748.44 12,999.89 13
   Employees (FTE)                   23,837    23,070    3
                                                          
   SOUTH + EAST                      6M/2026   6M/2025   Δ %
   Output volume                     3,367.08  3,184.46  6
   Order backlog                     8,671.74  8,534.95  2
   Employees (FTE)                   25,316    25,538    -1
                                                          
   INTERNATIONAL + SPECIAL DIVISIONS 6M/2026   6M/2025   Δ %
   Output volume                     2,233.34  1,992.65  12
   Order backlog                     12,538.22 6,811.49  84
   Employees (FTE)                   23,492    22,610    4
                                                          
   OTHER                             6M/2026   6M/2025   Δ %
   Output volume                     90.42     87.59     3
   Order backlog                     26.82     19.89     35
   Employees (FTE)                   8,278     7,941     4
                                                          
   Output / order backlog in € million

   The publicly listed European technology group for construction services
   STRABAG SE today announced its figures for the first six months of
   2026. „While road construction projects got off to a later start in the
   first quarter due to the cold weather, momentum picked up significantly in
   the second quarter, allowing us to report output of € 10 billion at the
   half-year mark for the first time. Strong demand for infrastructure
   construction, particularly in Germany and in our international markets,
   drove the order backlog to a new record of € 36 billion. At the same time,
   our profitable growth continues, resulting in a further increase in
   earnings. On this basis, we are raising our guidance for the 2026
   financial year“, explains Stefan Kratochwill, CEO of STRABAG SE.

   Output volume and revenue
   STRABAG SE increased its output volume significantly in the first half of
   2026 with a plus of 12% to € 9,982.67 million. While transportation
   infrastructure projects started later in the first quarter due to
   prolonged periods of cold weather in Europe, output rose strongly in the
   second quarter. The largest increase was recorded in Germany, particularly
   in energy infrastructure and railway construction. Significant growth in
   output volume was also achieved in the United Kingdom, partly as a result
   of the acquisition of Van Elle, as well as in the Czech Republic and
   Croatia. Consolidated revenue increased by 15%, slightly faster than
   output. As a result, the ratio of revenue to output rose from 89% to 92%
   year on year.

   Order backlog
   STRABAG SE’s order backlog once again grew substantially in the first half
   of 2026, reaching € 35,985.22 million as at 30 June 2026. This represents
   an increase of 27% compared with the same date in the previous year and
   15% compared with year-end 2025. The largest increases were recorded in
   Germany, the Americas, Australia, Austria and the core markets of Eastern
   Europe, particularly Poland and the Czech Republic. 

   Major orders received in the first half of 2026 included large-scale
   infrastructure contracts in Germany, among them several contract packages
   for the construction of the Pfaffensteig Tunnel, the replacement new build
   of the Erlangen lock and, in railway construction, the general
   refurbishment of the Lehrte–Oebisfelde section of the Hanover–Berlin
   high-speed line. Mining contracts worth around € 800 million contributed
   to the order backlog in Chile, while major railway construction contracts
   worth approximately € 490 million were secured in Australia. In Austria,
   notable orders included residential construction and energy infrastructure
   projects, while large-scale mobility infrastructure contracts were won in
   Eastern Europe.

   Financial performance
   Earnings before interest, taxes, depreciation and amortisation (EBITDA)
   increased by 30% to € 560.09 million in the first half of 2026. Despite
   the higher revenue, the combined share of expenses for materials and
   services and employee benefits expense in revenue was reduced from 93% to
   92%. Depreciation of property, plant and equipment and amortisation of
   intangible assets increased year on year to € 385.66 million (6M/2025: €
   301.44 million). Unlike in the previous year, this figure includes a € 50
   million impairment loss on goodwill in connection with an acquisition.
   Earnings before interest and taxes (EBIT) increased significantly by 35%
   to € 174.43 million. 

   The North + West segment achieved a significant improvement in earnings
   from an already high level. Earnings in the South + East segment remained
   negative due to the higher proportion of transportation infrastructure
   projects in the first half of the year; despite the colder weather in the
   first quarter, however, this figure was less negative than in the previous
   year. The International + Special Divisions segment delivered a solid
   earnings contribution despite the impact of the aforementioned impairment
   loss on goodwill.

   Net interest income increased to € 29.43 million, compared with € 15.38
   million in the first half of 2025. While net interest income in the
   previous year was adversely affected by exchange rate differences of €
   -13.04 million, these had virtually no impact in the reporting period,
   amounting to € 0.1 million. In addition, the higher level of liquidity
   compared with the previous year resulted in higher interest income.

   Earnings before taxes (EBT) therefore amounted to € 203.86 million,
   significantly above the previous year’s figure of € 144.75 million. Income
   tax expense came to € -83.99 million (6M/2025: € -47.68 million),
   increasing the effective income tax rate to 41%. The year-on-year increase
   was primarily attributable to the aforementioned impairment loss on
   goodwill, which is not deductible for tax purposes. This resulted in net
   income of € 119.87 million, compared with € 97.07 million in the first
   half of 2025.

   The earnings attributable to non-controlling interests amounted to € 0.81
   million and were therefore at a similar level to the previous year in
   absolute terms. Overall, net income after minorities amounted to € 119.06
   million (6M/2025: € 94.89 million). Based on a weighted average of
   115,442,696 shares outstanding in the first half of 2026, earnings per
   share amounted to € 1.03 (6M/2025: € 0.82).

   Financial position and cash flows
   The balance sheet total (total assets) amounted to € 16.8 billion as at 30
   June 2026, 6% above the figure at year-end 2025. The main changes on the
   assets side resulted from the seasonal increase in inventories and
   contract assets, which was accompanied by a decline in cash and cash
   equivalents.

   Compared with year-end 2025, the equity ratio decreased to 32.7% but
   remained at a high level (31 December 2025: 35.9%). This development was
   primarily attributable to the payment of the dividend for the 2025
   financial year in the first half of 2026.

   STRABAG continues to report a solid net cash position. Compared with
   year-end 2025, this decreased from € 3,518.26 million to € 2,606.26
   million due to the seasonality typical of the construction business and
   the associated build-up of working capital, as well as investments made in
   the first half of the year.

   Cash flow from operating activities returned to positive territory at €
   11.16 million (6M/2025: € -284.44 million). This development was
   attributable to higher cash flow from earnings as well as a smaller
   year-on-year build-up of working capital.

   Cash flow from investing activities amounted to € -677.99 million
   (6M/2025: € -430.31 million). The higher cash outflow compared with the
   previous year is in line with the implementation of Strategy 2030 and was
   primarily attributable to the acquisitions of WTE, Van Elle and Stumpp.

   Cash flow from financing activities amounted to € -245.07 million in the
   first half of 2026 (6M/2025: € -261.75 million). The cash outflow was
   therefore lower despite a higher dividend payment compared with the
   previous year. This was primarily due to the raising of nonrecourse
   liabilities to refinance the expansion of the Hold Estate portfolio.

   Employees
   STRABAG had an average of 80,923 employees (FTE) in the first half of
   2026, an increase of 2% compared to the same period of the previous year.
   The largest increases resulted from the acquisitions of Van Elle and the
   WTE Group as well as from the expansion of capacity to execute major
   projects in the United Kingdom and Germany. In the Americas, the number of
   employees declined as major projects progressed towards completion.

   Outlook for 2026
   Based on the continued strong growth in the order backlog and the
   significant increase in output in the second quarter, the Management Board
   has updated its outlook for the 2026 financial year. It now expects output
   volume to approach € 23 billion, compared with the previous estimate of
   around € 22 billion. In view of the positive earnings development in the
   first half of the year, the EBIT margin for the full year 2026 is now
   expected to be between 5.5% and 6%, compared with the original forecast of
   between 5% and 5.5%. Net investments, defined as cash flow from investing
   activities, are still expected to amount to no more than € 1.5 billion.

   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 89,000 employees, we generate an annual output volume of
   around € 20 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.

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   28.08.2026 CET/CEST This Corporate News was distributed by [1]EQS Group

   View original content: [2]EQS News

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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:      [email protected]
   Internet:    www.strabag.com
   ISIN:        AT000000STR1
   Listed:      Vienna Stock Exchange (Official Market)
   LEI Code:    529900TYYSRJH2VJSP60
   EQS News ID: 2388988


    
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   2388988  28.08.2026 CET/CEST

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