STRABAG SE Trading Statement Q1/2024: Continued high order backlog as solid basis for rest of year

STRABAG SE has released its Q1 2024 trading statement, showcasing a stable order backlog and slight growth in output volume. The Group recorded a 2% increase in output volume, reaching €3.4 billion, driven by its core markets in Germany, Poland, and Romania. However, declines were noted in Austria owing to the residential construction downturn.

As of March 2024, the order backlog stands at €24.6 billion, a 5% increase compared to the end of 2023. Significant project wins include the construction of a shipping lock in Germany and a bridge in Poland. Employee numbers rose by 2%, primarily due to acquisitions in Germany and increased staffing for ongoing projects in the UK and Romania.

STRABAG SE reaffirms its 2024 output target of €19.4 billion and anticipates an EBIT margin of at least 4%. CEO Klemens Haselsteiner expects the market conditions to improve in the second half of 2024, supported by anticipated interest rate cuts.