STRABAG SE
XMUN:XD4
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STRABAG SE
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STRABAG SE
STRABAG SE is a large construction and civil engineering company. It plans and builds roads, bridges, tunnels, rail lines, buildings, and other infrastructure projects, and it also handles parts of the work around them such as project design, site management, and maintenance. Its customers are mainly public authorities, utilities, industrial companies, and private developers who need complex construction work delivered by one contractor. The company makes money by bidding on projects and getting paid for construction services, engineering work, and long-term maintenance contracts. In practice, STRABAG earns revenue when it acts as the main contractor or part of a joint venture and is paid as work is completed. This makes it different from a typical manufacturer because its business depends on winning project contracts, coordinating large crews and equipment, and managing on-site execution in many local markets. What sets STRABAG apart is its role as a full-service builder for difficult, large-scale projects where technical know-how, logistics, and coordination matter as much as materials. It is not just pouring concrete or laying asphalt; it helps turn plans into finished roads, buildings, and infrastructure that governments and companies rely on for years.
STRABAG SE is a large construction and civil engineering company. It plans and builds roads, bridges, tunnels, rail lines, buildings, and other infrastructure projects, and it also handles parts of the work around them such as project design, site management, and maintenance. Its customers are mainly public authorities, utilities, industrial companies, and private developers who need complex construction work delivered by one contractor.
The company makes money by bidding on projects and getting paid for construction services, engineering work, and long-term maintenance contracts. In practice, STRABAG earns revenue when it acts as the main contractor or part of a joint venture and is paid as work is completed. This makes it different from a typical manufacturer because its business depends on winning project contracts, coordinating large crews and equipment, and managing on-site execution in many local markets.
What sets STRABAG apart is its role as a full-service builder for difficult, large-scale projects where technical know-how, logistics, and coordination matter as much as materials. It is not just pouring concrete or laying asphalt; it helps turn plans into finished roads, buildings, and infrastructure that governments and companies rely on for years.
Output Volume: STRABAG reported Q1 output of EUR 2.6 billion, up 7%, mainly driven by strong performance in the German Transportation Infrastructure business.
Record Order Backlog: Order backlog rose 10% to over EUR 17.6 billion, a new company high, with strong contributions from Hungary, Poland, and Germany.
Earnings: EBITDA improved slightly to minus EUR 50 million (up 2%), while EBIT was minus EUR 139 million, a 3% year-on-year improvement.
Stable Net Income: Net income after minorities was minus EUR 116.7 million, unchanged from Q1 2017; EPS also unchanged at EUR 1.14 per share.
Full-Year Guidance Confirmed: Management reaffirmed guidance for 2018: output volume of around EUR 15 billion and at least 3% EBIT margin.
Input Costs & Margins: Rising input and labor costs are pressuring margins, with wage increases particularly notable in Germany.
Facility Management Transition: The ISS contract for Deutsche Telekom will reduce Facility Management revenues starting mid-2019, but management expects to offset this loss at the group level.
Alto Maipo Project: No further negative impact expected; future provision releases depend on project progress.
