Strabag records first positive semi annual earnings

Austrian contractor Strabag reached the break-even point in earnings before interest and taxes (EBIT), a feat it has never achieved before the third quarter in past years.

CEO of Strabag, Hans Peter Haselsteiner said, “The first months of the previous year were characterised by a very long winter. This year’s weather conditions allowed us to begin building significantly earlier, which is why we are pleased to report of double-digit growth of the output volume at the halfway point.

“We also have good news on the earnings side: last year’s EBITs were significantly positively distorted by a one-off effect in the balance sheet. This makes it that much more remarkable that, for the first time in company history, we have registered a positive EBIT already at the half-year mark. We already raised our forecast for the full year 2011 and beyond during the presentation of the interim report for January-March 2011.

He added, “Today I would like to confirm this outlook. We expect an output volume of € 14.0 billion in 2011 and of € 14.3 billion in 2012. The EBIT should come to rest at least at € 320 million this year and at € 330 million next year.”