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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide 
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Company Information 
 
Vienna - The publicly listed European-based technology group for construction 
services STRABAG SE today announced its first figures for the 2020 financial 
year and issued an outlook for 2021. "We see the developments of the past year 
as a confirmation of our strategy. Diversification and regionality have helped 
us balance out the very different effects of the coronavirus crisis in our core 
markets. Meanwhile, the high order backlog allows for a positive outlook for the 
remainder of 2021, though it is important to keep an eye on individual market 
areas and in particular on the developments at the communal level," sums up 
Thomas Birtel, CEO of STRABAG SE. 
 
Output volume 
The STRABAG SE Group recorded a slightly smaller decline in output overall in 
the 2020 financial year than had been forecast. At EUR 15.4 billion, the output 
volume was 7 % below the level from 2019. A negative effect was exerted by the 
following, previously reported factors: the loss of a German key account in 
Property & Facility Services resulting from an expired contract in mid-2019, the 
performance and completion of tunnelling projects in Chile, and of course the 
temporary suspension of construction activity due to the coronavirus crisis in 
Austria. Other important core markets, such as Poland and the Czech Republic, 
were able to record an increase in output volume due to uninterrupted 
construction site operations. 
 
Order backlog 
The order backlog as at 31 December 2020 grew to EUR 18.4 billion (+5 %) despite 
the crisis. While declines were registered in Austria, Poland and Hungary, 
strong growth was recorded in Germany, especially in transportation 
infrastructures. In September, for example, the PPP contract for the A49 
motorway project started. The Smíchov City urban development project in Prague 
contributed to an increase in the order backlog in the Czech Republic. In 
Slovakia, meanwhile, the group landed a EUR 323 million railway construction 
project. Major international projects, including flood control dams in Oman, 
also added to the order volume. 
 
Employees 
The average number of employees fell in line with the reduced output volume, 
decreasing by 3 % to 74,340. Stronger declines were seen in the labour-intensive 
markets of the Middle East and Americas, which were also heavily impacted by the 
Covid-19 crisis, while mixed trends were observed in the other countries. 
 
Outlook 2021 
STRABAG SE expects to achieve an output volume slightly above the previous 
year's level in the 2021 financial year. This forecast is supported by the high 
order backlog. In all three segments, North + West, South + East and 
International + Special Divisions, no significant changes to the high output 
level are expected from today's perspective. 
 
On the earnings side, STRABAG SE expects to significantly exceed the previous 
target of an operating EBIT margin of at least 3.5 % in the 2020 financial year, 
as positive effects have outweighed Covid-related impacts. The situation should 
return to normal in 2021 with an EBIT margin of below 4.0 %. Given this 
development, the medium-term target of 4.0 % starting from 2022 seems 
attainable. Net investments (cash flow from investing activities) are unlikely 
to exceed EUR 450 million in 2021. 
 
The planning for 2021 is based, among other things, on the expectation that the 
earnings contributions from the traditionally strong specialty business fields 
of Real Estate Development and Property & Facility Services will weaken 
somewhat, but that at the same time further progress can be made in project risk 
management in all of our core markets. 
 
Additional figures and details about the 2020 financial year will be available 
from 7:30 a.m. (CEST) on 30 April 2021 at www.strabag.com. 
 
 
 
 
Further inquiry note: 
STRABAG SE 
Marianne Jakl 
Interim Head of Corporate Communications & Investor Relations 
Tel. +43 1 22422-1174 
marianne.jakl@strabag.com 
 
 
end of announcement                         euro adhoc 
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Attachments with Announcement: 
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http://resources.euroadhoc.com/documents/2246/5/10661668/1/STRABAG_SE_MMB-Zahlen_2020_Februar21_e.pdf

(END) Dow Jones Newswires

February 10, 2021 01:30 ET (06:30 GMT)