|
contents | business | |||||||||
| Strabag reports results for nine months of 2010 Strabag SE, Central and Eastern Europe's largest construction company, confirmed its outlook on stable output volume and earnings for the full year 2010. "For the current year, we still expect the output volume to show relatively flat development over the previous year, ending at € 12.9 billion (2009: € 13.0 billion). Our expectation regarding the adjusted earnings before interest and taxes (EBIT) stands at € 280 million for 2010", stated Hans Peter Haselsteiner, CEO of Strabag SE. A number of factors influenced the output volume in the first nine months of the 2010 financial year, resulting in development in opposing directions. The construction boom in Poland had a positive effect on output and, above all in the Transportation Infrastructures segment, made up for the disadvantageous weather conditions in Europe at the beginning of the year. In comparison, considerable declines in output volume were seen in the Transportation Infrastructures segment in Germany and Hungary. The output volume in the Building Construction & Civil Engineering segment in Germany also was considerably below the level of the first nine months of the previous year. This, together with the lack of projects in tunnelling, added up to a 3 % reduction of the consolidated output volume to € 9, 096.94 million. The picture was nearly the same with the consolidated group revenue, which fell by 2 % to € 8, 889.24 million in the first nine months of 2010. In the third quarter of 2010, the revenue, in comparison, was 3 % above the levels of the same period the year before. write your comments about the article :: © 2010 Construction News :: home page |