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| Strabag reports double-digit EBIT growth after nine months 2009 The output volume of Austrian construction giant Strabag SE stood at € 9,406.70 million in the first nine months of 2009, which represents stable development compared to the year before (previous year: € 9, 381.77 million). The consolidated group revenue for the first nine months of the 2009 financial year amounted to € 9,091.50 million, compared to € 8,314.54 million in the same period last year (+9 %). Group revenue in the third quarter 2009 of stood at € 3,744.18 million, up 6 % from the year before. EBITDA (earnings before interest, taxes, depreciation and amortisation) gained 13 % to € 440.82 million. This contributed to the slight growth of the EBITDA margin from 4.7 % to 4.8 %. Amortisation and depreciation was up by 10 % due to the high level of capital expenditures made in the past financial year. The EBIT (earnings before interest and taxes) nevertheless improved by 18 % to € 174.61 million. The order backlog on 30 September 2009 stood at € 14,620.96 million, despite significant declines in Russia and Hungary. This corresponds not only to a plus compared to 30 June 2009 but also to an increase versus 30 September 2008 (+5 %) and versus the end of 2008 (+10 %). The third-quarter EBITDA grew by 6 % to € 278.07 million; the EBIT was up 5 % to € 185.74 million. The consolidated net income stood at € 126.16 million, a plus of 11 %, while quarterly earnings per share rose from € 1.00 to € 1.11. The balance sheet total remained relatively unchanged with € 9,737.04 million at 30 September 2009 versus € 9,765.21 million at 31 December 2008. Dr. Hans Peter Haselsteiner, CEO of Strabag SE, expects the 2010 financial year to remain relatively stable for Strabag. write your comments about the article :: © 2009 Construction News :: home page |