Strabag (STR) Q2 2026 earnings summary

Executive summary

• Output volume reached nearly €10 billion in H1 2026, up 12% year-over-year, driven by strong growth in Germany, UK, Czech Republic, and Croatia.

• Order backlog hit a record €36 billion, up 27% year-on-year, providing 1.6 years of business visibility and extending into 2028.

• EBIT rose 35% to €174 million, the highest first-half EBIT in company history, with net income after minorities up 25% to €119 million.

• Infrastructure projects, especially in rail and energy, were key growth drivers, now representing over 50% of group output.

• Major acquisitions (WTE Group, Van Elle, Stumpp) and large infrastructure contracts in Europe, Australia, and Chile supported strategic expansion.

Financial highlights

• Revenue grew 15% year-over-year to €9.15 billion in H1 2026, with output volume at €9,982.67 million.

• EBITDA rose 30% to €560 million; EBITDA margin improved to 6.1%.

• EBIT margin increased to 1.9% (from 1.6%); EBT up 41% to €204 million.

• Net income after minorities reached €119 million; earnings per share at €1.03 (+26%).

• Equity ratio at 32.7%; net cash position at €2.6 billion as of June 2026.

Outlook and guidance

• Output volume for 2026 expected to approach €23 billion, up from previous guidance of €22 billion.

• EBIT margin guidance raised to 5.5–6% (previously 5–5.5%).

• Net investments guidance unchanged at or below €1.5 billion.

• Strong order backlog and business development support the upgraded outlook.