Strabag (STR) H2 2024 earnings summary

Executive summary

• Achieved best financial result in company history for FY 2024, with record output of €19.2 bn and order backlog of €25.4 bn, demonstrating resilience in a mixed market environment.

• EBIT margin reached 6.1%, exceeding expectations, and net income after minorities rose 31% to €823 mn; EPS increased 17% to €7.35.

• Strategic milestones include the acquisition of Georgiou Group, expanding non-European business, and extending the value chain in energy and water infrastructure.

• Management Board completed, with Stefan Kratochwill appointed CEO in February 2025.

• Demonstrated resilience by offsetting declines in building construction with strong infrastructure momentum.

Financial highlights

• Output volume reached €19.2 bn (+1% vs. FY 2023); order backlog hit €25.4 bn (+8% vs. 31.12.2023).

• EBIT rose to €1,062 mn (+21% vs. 2023), with EBIT margin at 6.1% (2023: 5.0%).

• EBITDA grew 16% to €1,644.2 mn, with EBITDA margin at 9.4% (2023: 8.0%).

• Net income after minorities at all-time high of €823 mn (+31% vs. 2023); EPS €7.35 (+17%).

• Dividend proposal of €2.50 per share (2023: €2.20).

Outlook and guidance

• Output volume for 2025 projected at €21 bn, with EBIT margin target raised to ≥4.5%.

• Growth expected across all operating segments, supported by record order backlog and acquisitions.

• Strategy 2030 execution underway, focusing on infrastructure, energy, and high-tech projects.