Profits up at Strabag

Contractor Strabag has posted a 26% increase in earning for the 2013 financial year, as earnings before interest and taxes (EBIT) reached €261.58 million, compared with €207.19 million in 2012.

Net income after minorities jumped 87% year-on-year to €113.56 million.

Thomas Birtel, CEO of Strabag, said, “Our group’s broad diversification is proving to be the best form of crisis insurance. Therefore, we still expect to achieve a similarly high output volume and earnings as in 2013, specifically around €13.6 billion and at least €260 million, respectively.

"For this reason, we will continue to give strategic priority to selectively diversifying our business activities, maintaining our financial strength and having an end-to-end risk management system."

The 2013 financial year saw Strabag generate an output volume of €13.6 billion, down 3% on 2012’s figure of €14 billion.

The Austria-based contractor saw declines in output from Poland, Canada, Benelux and Romania. However, these were nearly balanced out by growth from Hungary, Austria and Africa.