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| Strabag posts figures for 2008 financial year Strabag SE, the largest construction group in Central and Eastern Europe, exceeded its growth targets in the 2008 financial year, with organic growth and acquisitions contributing to a 28 % increase in the construction output volume to € 13,742.5 million. Activities in Central and Eastern Europe accounted for 31 % of the overall output volume, the same level as the year before. Revenue grew by 24 % to € 12,227.8 million year on year. Despite the higher provisions, the write-downs on accounts receivables and the lower earnings from investments in associates, the earnings before interest, taxes, depreciation and amortisation (EBITDA) was up 9 % to € 647.7 million. The earnings before interest and taxes (EBIT) fell by 14 % to € 269.9 million because of higher depreciation and amortisation charges related to acquisitions and expenditures and due to extraordinary charges (thereof approx. € 25 million for impairment on goodwill). This resulted in an EBIT margin of 2.2 %, compared to 3.2 % the year before. write your comments about the article :: © 2009 Construction News :: home page |