21st Austria weekly - Strabag, S Immo (25/04/2024)

28.04.2024, 2153 Zeichen


Strabag: Construction group Strabag increased its output volume by 8% to € 19,139.14 million in the 2023 financial year, setting a new record for this figure. The consolidated Group revenue amounted to € 17,666.54 million. The operating segments North + West contributed 41%, South + East 42% and International + Special Divisions 17% to the revenue. Despite sharp declines on the residential construction market, the order backlog remained more or less stable at a very high level of € 23,466.13 million (-1% compared to 31 December 2022). The earnings before interest and taxes (EBIT) increased significantly by 25% to € 880.20 million in 2023. The EBIT margin grew to 5.0% (2022: 4.2%), CEO Klemens Haselsteiner: “2023 was characterised by a number of factors that are not supportive for construction. But Strabag held up extremely well even in this challenging environment, with earnings that exceeded expectations. Our broad diversification allowed us to more than offset declines in individual construction segments. At the same time, we continued to work on progress in construction and are focusing our strategy on the growth drivers of the future: sustainability and innovation.” Based on the continuing high order backlog, which already extends into 2025, the Management Board expects the output volume to increase slightly to around € 19.4 billion in the 2024 financial year. Due to the economic challenges in the construction industry, the earnings for 2023 do not change anything about the target of generating an EBIT margin of at least 4% in the 2024 financial year.
Strabag: weekly performance: 6.30%

S Immo: Real estate company S Immo signed a contract for the acquisition of a portfolio totalling eight properties from Czech Property Investments, a subsidiary of CPI Property Group, in the Czech Republic. The purchase comprises four office properties and four commercial properties with a total leasable area of around 136,000 m², a property value of around EUR 463m and annual rental income of around EUR 28.3m. 
S Immo: weekly performance: -3.12%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (25/04/2024)



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