Strabag bosses admit defeat over €300 million 2012 EBIT target

Austrian construction company Strabag’s “more than ambitious” €300million earnings before interest and taxes (EBIT) target cannot be achieved, according to the firm’s management board. The board say the projected EBIT can now only be reached by “about two thirds”. This is said to be partly due to the delays of public authorities in Central and Eastern Europe in dealing with claims, especially in Poland; the cautious valuation of some construction projects; and the “ruinous price war” in the raw materials b
July 25, 2012 Read time: 1 min
RSSAustrian construction company 945 Strabag’s “more than ambitious” €300million earnings before interest and taxes (EBIT) target cannot be achieved, according to the firm’s management board.
The board say the projected EBIT can now only be reached by “about two thirds”. This is said to be partly due to the delays of public authorities in Central and Eastern Europe in dealing with claims, especially in Poland; the cautious valuation of some construction projects; and the “ruinous price war” in the raw materials business.

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