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.

For more information on companies in this article

Related Content

  • San Miguel Corp is among bidders in Cavite-Laguna re-auction
    March 19, 2015
    San Miguel Corporation, Metro Pacific Investments Corporation and an unidentified firm reportedly are bidding in the US$1.25 billion re-auction for work on the Cavite-Laguna Expressway. The deal involves building, operating and maintaining the 47km four-lane toll road for 35 years under a public-private-partnership. The sum includes a $448 million bid price, equal to the premium offered by SMS subsidiary Optimal Infrastructure Development during the first tender for the project in June 2014. San Miguel was
    Read More
  • German engine manufacturer Deutz not to meet fully year earnings
    October 21, 2014
    German engine manufacturer Deutz Group warned that a third quarter dip in sales revenue and warranty issues concerning its Compact Engines segment meant the company will not meet its previous forecast for the financial year 2014. A statement from the Cologne-based company said “significant costs will be incurred over the coming years in connection with warranties and goodwill for engines from the DEUTZ Compact Engines segment, primarily relating to engines manufactured in 2011”. In the third quarter o
    Read More
  • Perlini beats Italian blues with plans to use local partners in Brazil, China and Russia
    January 6, 2017
    Rigid hauler manufacturer Perlini is setting up three new manufacturing businesses in China, Brazil and Russia, working with local partners to supply these growing markets. This is a new approach for the Italian family-run firm, which began setting up the new deals two years ago after a change in management. “Our old management was very conservative,” said managing director Maurizio Perlini. “But it was a case of go with partners or close the company. We did not have a choice.”
    Read More
  • Perlini beats Italian blues with plans to use local partners in Brazil, China and Russia
    April 17, 2013
    Rigid hauler manufacturer Perlini is setting up three new manufacturing businesses in China, Brazil and Russia, working with local partners to supply these growing markets. This is a new approach for the Italian family-run firm, which began setting up the new deals two years ago after a change in management. “Our old management was very conservative,” said managing director Maurizio Perlini. “But it was a case of go with partners or close the company. We did not have a choice.”
    Read More

Highlighted Content