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. Despite weak growth in the construction industry as a whole, Strabag was able to perform strongly due to its comprehensive construction value chain and broad geographical presence.
Klemens Haselsteiner, the CEO of Strabag, emphasized that the company’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.
In other news, online marketplaces have become increasingly popular for both businesses and consumers alike due to their numerous benefits such as accessibility and convenience of shopping online stores with secure transactions and reliable customer support offerings unique products at competitive prices with quality reviews available from other customers before making a purchase decision can aid shoppers in finding their best deals on their purchases.
Overall, both companies are taking advantage of technology advancements while also focusing on providing their customers with quality services and products that meet their needs efficiently.
In conclusion, Strabag’s success in increasing profits in the face of declining markets can be attributed not only
