Best result to date: STRABAG delivers a strong performance in the 2025 financial year

Key figures

• Production volume up 6%, exceeding €20 billion for the first time

• Focus on growth markets: order book up 24% to over €31 billion

• EBIT margin very high at 6.7% (2024: 6.1%)

• Net profit after minority interests up 11% to €916 million

• Proposed dividend: €2.90 per share (2024: €2.50)

• Outlook for 2026: production volume of approximately €22 billion, EBIT margin of 5.0%–5.5%

The listed European construction services technology group STRABAG SE achieved its best-ever results in 2025. Growth was driven by infrastructure construction in the mobility, energy and water sectors, as well as by high-tech industrial construction. Challenges included delayed budget approval in Germany and a shortage of municipal funding in Austria. At group level, STRABAG once again more than offset these effects, underlining the resilience of its integrated business model.

Production volume, turnover and order book

The STRABAG Group’s production volume rose by 6% to €20,423.95 million in the 2025 financial year, with growth across all operating segments. Consolidated turnover increased by 7% to €18,714.28 million. The North + West segments accounted for 40% of turnover, South + East for 39% and International + Special Divisions for 21%.

The order book exceeded €30 billion for the first time in 2025, standing at €31,374.55 million at the end of the year, an increase of €6.0 billion (+24%) compared with the previous year. This growth was achieved primarily in strategic markets for mobility, energy and water infrastructure, as well as in high-tech construction.

Financial performance

EBITDA rose by 15% in 2025 to €1,882.82 million. The EBITDA margin improved from 9.4% to 10.1%, reaching double-digit levels for the first time. In line with investments under Strategy 2030 and the expansion of assets, depreciation and amortisation rose by 9% to €635.59 million.

EBIT increased by 17% to €1,247.23 million. The EBIT margin improved from 6.1% to 6.7%. This higher margin was due, amongst other things, to positive contributions from major projects in Germany and in the international operations, particularly in infrastructure. Mild weather conditions in Germany also had a positive effect due to higher capacity utilisation towards the end of the year.

Net interest income amounted to €40.97 million, lower than in 2024 (€75.42 million), mainly due to lower deposit rates and a more negative exchange rate effect of €–10.79 million (2024: €–0.4 million).

The effective tax rate rose slightly to 28.5%. Net profit increased by 11% to €920.96 million. Minority shareholders’ share of this was €4.68 million. Net profit after minority interests amounted to €916.28 million, a new record.

Earnings per share amounted to €7.94 (2024: €7.35).

Financial position and cash flows

The balance sheet total rose by 8% to €15,845.94 million. On the assets side, this was due in part to higher cash and cash equivalents, property, plant and equipment, and inventories. Goodwill also increased as a result of acquisitions made as part of Strategy 2030. Investment property grew due to the expansion of the STRABAG Hold Estate portfolio.

Equity stood at €5,684.02 million as at 31 December 2025, corresponding to an equity ratio of 35.9%, well above the minimum target of 25%. STRABAG once again reported a net cash position, which rose sharply to €3,518.26 million.

Operating cash flow rose to €1,802.66 million (2024: €1,387.21 million), thanks to higher earnings and an unexpected reduction in working capital.

Cash flow from investing activities amounted to € –813.35 million (2024: € –749.54 million), mainly due to higher investments in line with Strategy 2030, including in property, financial assets and acquisitions (such as construction solutions, the circular economy and the acquisition in Australia).

Cash flow from financing activities amounted to € –409.58 million (2024: € –353.69 million), partly due to debt repayments and higher dividend payments.

Outlook

The Executive Board expects a production volume of approximately €22 billion for 2026, with growth across all segments. An EBIT margin of between 5.0% and 5.5% is expected for 2026. Net capital expenditure is estimated at up to €1.4 billion.
Due to the war in Iran, price rises are currently being observed for, amongst other things, fuel, gas and bitumen. The impact depends on the duration of the conflict. STRABAG applies price indexation clauses where possible and pursues a locally focused, long-term procurement strategy. The resilience of the business model had already been demonstrated during the COVID-19 pandemic.

Further details on the 2025 financial figures were announced on Monday 28 May 2026 during the financial press conference by Stefan Kratochwill, CEO of STRABAG SE, and Christian Harder, CFO.

STRABAG SE’s full 2025 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 89,000 employees, we generate an annual production volume of around €20 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.