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

  • Electric vehicle charging market expands
    July 27, 2012
    New analysis from Frost & Sullivan says that the electric vehicle (EV) charging station market in North America has grown immensely, helped along by favourable government level (federal, state and municipal) incentives and subsidies for the purchase of EVs. The government is extending these plans to the installation of charging station and funding programmes such as ECOtality's EV project, which is trying to install electric vehicle charging infrastructure in six major states.
    Read More
  • HighwaysUK event being held in London
    November 9, 2015
    Highways planning in England is at a historic turning point. That is the message that former transport minister Steve Norris will be bringing to the HighwaysUK conference at ExCel London, 25-26 November. Norris speaks from a position of some experience having worked at the highest levels in both the public and private transport sectors. He is in no doubt that the recent shake up that has transformed the Highways Agency into Highways England is the start of a new era. He said, “It’s not just a badge chang
    Read More
  • North American market fuels 15% rise in Volvo CE Q2 2012 sales
    July 31, 2012
    Volvo CE said strong sales, particularly in North America, helped the company record a 15% rise in equipment sales in Q2 of 2012 – bucking a worldwide reduction in the size of the global equipment sales market. The company’s operating income also rose in Q2 2012 to 35%, with operating margin up 13.3% on the same period of 2011. Volvo CE strengthened its market position in wheeled loader and excavator sales in China, taking a 14.7% share of the vital market.
    Read More
  • Pilosio Building Peace Award: think past the balance sheet
    April 20, 2016
    Construction companies have the power to make a positive impact on the lives of people in need around the world, but the sector must think past the corporate bottom line. So said the former president of Uruguay, José Alberto Mujica Cordano, in his impassioned acceptance speech as recipient of this year’s Pilosio Building Peace Award.
    Read More

Highlighted Content