Strabag grows 2009 profits

Strabag SE reported sales of € 12,5 billion in 2009, up +3% on the € 12,2 billion recorded 12 months ago. Pre-tax profit for the year also rose by +5% to € 282 million, up from € 269 million in 2008.

Order backlog grew by +5% during 2009 to € 13,9 billion, up from € 13,2 billion at the end of 2008. CEO of Strabag, Hans Peter Haselsteiner said, "Our strategy of diversification is a success.

"While some individual markets collapsed and many companies suffered under the economic crisis, our revenue and earnings were relatively stable, as forecasted."

Mr Haselsteiner said that what was called for now was a high degree of flexibility regarding both products and markets. "Our high equity ratio of more than 32% enables us to be flexible," he said. "It gives us security when we work in new geographical markets and when we enter niche markets like railway or waterway construction."