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| Strabag with record order backlog and lower winter loss in 1q 2010 Strabag SE, Central and Eastern Europe's largest construction company, concluded the first quarter 2010 with a record order backlog and a lower winter loss. "The first quarter of 2010 was characterised by a long and hard winter, resulting in double-digit revenue decline. As is the case every first quarter, we have to post a loss this year as well. Thanks, however, to the improved cost management and positive special items related to the acquisition of a higher stake in Czech railway construction company Viamont DSP a.s., this was lower than in the same quarter the previous year. I see no reason to change my outlook for the full year 2010 from the end of April. My management board colleagues and I continue to expect to close the financial year at the previous year's levels in terms of both output volume as well as earnings", Hans Peter Haselsteiner, CEO of Strabag SE, commented on the figures. The unfavourable weather conditions at the beginning of the year and the completion of several large projects in the Middle East and in Russia led to a 16 % reduction in the output volume to € 1,837.38 million in the first quarter of 2010. The consolidated group revenue reached € 1,788.45 million in the first three months of the 2010 financial year, compared to € 2,082.33 million the year before (-14 %). While the output volume in the Transportation Infrastructures segment was only slightly below the usual low amount in the winter quarter, the Building Construction & Civil Engineering segment posted negative output growth in the double-digit percentages. write your comments about the article :: © 2010 Construction News :: home page |