Strabag, Austria’s largest construction company, reported a significant increase in profits in 2023 despite declining markets. The consolidated result rose by a third to 630.5 million euros compared to the previous year, and earnings before interest and taxes (EBIT) increased by a quarter to 880.2 million euros. The construction industry as a whole experienced weak growth in the previous year, but Strabag was able to perform strongly due to its comprehensive construction value chain and broad geographical presence.
The CEO, Klemens Haselsteiner, emphasized that Strabag’s success in 2023 was attributed to its ability to cover the entire construction value chain and its wide geographic reach. The company plans to increase the profit distribution to shareholders from 2 euros to 2.20 euros per share certificate. In contrast, consolidated profit had decreased by 19 percent to 472.5 million euros in 2022.
Looking ahead to the current 2024 financial year, Strabag’s management has a cautious outlook. Construction output is expected to grow only slightly from 19.1 to 19.4 billion euros. Additionally, the company aims for an EBIT margin of 4 percent or more, compared to 5 percent most recently.
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