STRABAG SE demonstrates resilience and achieves its best result to date

A good result despite a challenging climate

• Production volume slightly higher than last year: €19.2 billion

• Production volume slightly higher than last year: €19.2 billion

• EBIT margin exceeded expectations at 6.1% (2023: 5.0%)

• Proposed dividend of €2.50 per share (2023: €2.20)

• Outlook for 2025: production volume of approximately €21.0 billion, EBIT margin ≥ 4.5%

• The 2024 Annual Report and Sustainability Report are available online at report.strabag.com

STRABAG SE, the listed European technology group specialising in construction services, faced a mixed market environment in 2024. Driven by strong momentum in infrastructure and challenges in the construction sector, the company delivered a strong performance. Once again, STRABAG demonstrated its ability to offset downward trends in individual construction segments. This is due to its broad positioning, not only by segment but also by geography, client structure and project size.

Production volume, turnover and order book

The STRABAG SE Group generated a production volume of €19,238.80 million in the 2024 financial year, representing a slight increase of 1 per cent, or €100 million. The Group’s consolidated turnover amounted to €17,422.22 million. The North + West business segments contributed 41%, South + East 41% and International + Special Divisions 18% to turnover. Having exceeded the €25 billion mark for the first time in the first half of the year, the order book was further expanded to €25,362.47 million by the end of 2024, representing an increase of €1.9 billion, or 8 per cent, compared with the previous year.

Financial performance

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 16% to €1,644.18 million. On a year-on-year basis, this corresponds to a significant increase in the EBITDA margin from 8.0% to 9.4%. In line with the higher capital expenditure as part of Strategy 2030, depreciation and amortisation costs rose, as expected, by 8% to €582.29 million.

Earnings before interest and tax (EBIT) exceeded the €1.0 billion mark for the first time in 2024, amounting to €1,061.89 million. This resulted in a significant increase in the EBIT margin from 5.0% to 6.1%. The EBIT margin in the 2024 financial year was considerably higher than originally expected, mainly thanks to positive earnings effects in the North + West segment and – compared with the previous year – lower negative earnings effects in the volatile international project business.

Net interest income rose sharply again year-on-year, from €44.13 million to €75.42 million. This growth was mainly attributable to higher interest income, driven by persistently high interest rates in 2024 and STRABAG SE’s strong net cash position.

Income tax amounted to 27.2 per cent, significantly lower than in the previous year. This was due to a lower shortfall in tax relief on large-scale projects. Net profit amounted to €828.33 million, an increase of 31% compared with the previous year.

Profit attributable to minority shareholders totalled €5.33 million, compared with €2.89 million in the previous year. Net profit after minority interests rose by 31% to €823.00 million, the highest figure since the company was founded. Earnings per share amounted to €7.35 (2023: €6.30).

Financial position and cash flows

Total assets and liabilities rose by 7% year-on-year to €14,674.58 million. On the assets side, the increase was mainly due to higher inventories and cash and cash equivalents. Growth was also seen in the Group’s investment property, attributable to the establishment of the STRABAG Hold Estate portfolio for the management of strategic long-term investment property.

Equity at the end of 2024 stood at €5,000.37 million, meaning this figure has reached the €5.0 billion mark for the first time. Equity rose to 34.1% (31 December 2023: 32.2%), driven by the exceptionally high profit in the reporting year, and thus remains well above the Group’s minimum target of 25%. STRABAG SE once again reported a net cash position as at 31 December 2024, with a significant increase to €2,905.25 million as a result of higher cash and cash equivalents.

Cash flow from operating activities fell to €1,387.21 million in the reporting year (2023: €1,816.51 million); however, this figure remains at the upper end of the multi-year average. Whilst cash flow from profit increased year-on-year, working capital remained largely unchanged following the unexpected decline in the previous year. A reduction in prepayments has not yet materialised

Cash flow from investing activities was, as expected, more negative due to higher capital expenditure in line with the Group Strategy 2030, amounting to € -749.54 million (2023: € -654.87 million). There was an increase in investment property due to the establishment of the STRABAG Hold Estate portfolio and in property, plant and equipment.

Cash flow from financing activities was less negative at € -353.69 million (2023: € -430.58 million). Last year’s figure included the cash outflow from the acquisition of own shares offered as part of a mandatory takeover bid by the Austrian core shareholders. The absence of this effect more than offset the higher dividend payment in the 2024 financial year.

Outlook

The Board of Directors expects a significant increase in production volume to approximately €21 billion in the 2025 financial year. This forecast is based on the strong order book and the expected contributions from recent acquisitions. An increase in output volume is forecast for all business segments in 2025. Whilst various positive earnings effects coincided in 2024, the EBIT margin is expected to return to normal levels in 2025. In light of the first tangible effects of the Group strategy, the Board of Directors is raising the EBIT margin target for 2025 to ≥ 4.5%.

Further details on the 2024 financial figures were announced on Monday 28 May 2025 during the financial press conference by Stefan Kratochwill, CEO of STRABAG SE, and Christian Harder, CFO.

STRABAG SE’s full annual and sustainability report is available online at report.strabag.com.

STRABAG SEis a Europe-based technology group specialising in construction services, a leader in innovation and financial strength. Our activities span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients through an end-to-end approach to construction throughout the entire life cycle – from planning and design through to construction, operation and facilities management, right through to redevelopment or demolition. In all our work, we take our responsibility towards people and the environment seriously: we are shaping the future of construction and investing significantly in our portfolio of over 250 innovation and 400 sustainability projects. Thanks to the hard work and dedication of our approximately 86,000 employees, we generate an annual output of around €19 billion.

Our extensive network of subsidiaries across various European countries and on other continents extends our sphere of activity far beyond the borders of Austria and Germany. In collaboration with strong partners, we pursue a clear goal: to design, build and operate construction projects in a way that protects the climate and conserves resources. Further information is available atwww.strabag.com.