Compared to the previous year, consolidated earnings rose by a third to 630.5 million euros and earnings before interest and taxes (EBIT) rose by a quarter to 880.2 million euros, as the company announced on Thursday morning.
The construction industry in general tended to develop weakly last year. “By covering the entire construction value chain and broad geographical presence, Strabag can still look back on a strong performance in 2023,” explained CEO Klemens Haselsteiner.
The profit distribution to shareholders is to be increased from 2 euros to 2.20 euros per share compared to the previous year. In 2022, consolidated profit fell by 19 percent to 472.5 euros.
Management’s outlook for the current 2024 financial year is cautious: construction output is expected to grow only slightly from 19.1 to 19.4 billion euros. In 2023 it climbed by 8 percent. Furthermore, an EBIT margin of 4 percent or more is targeted, up from 5 percent most recently.
