Report

STRABAG Spotlight Research - Capitalising on sound market fundamentals

STRABAG ranks among Europes largest construction firms, offering services from all areas of the business. Its activities are primarily grouped into Building Construction & Civil Engineering, Transportation Infrastructures and Special Divisions
Except for the pandemic-related drop in FY 20, in recent years STRABAG has capitalised convincingly on the sectors favourable trading conditions, driven by high demand both from private and public clients. More importantly, the group has been able to consistently improve its profitability
In Q1-3 21 STRABAG generated output of EUR 11.52 bn, a 4% increase yoy. Order backlog stood at a new year-end record high of EUR 21.55 bn, which equals growth of 14%
The financial targets for FY 21e call for output of more than EUR 15.4 bn and an EBIT margin close to the target of 4% set for 2022
Underlying
STRABAG SE

Strabag is a technology group for construction services. Co. provides its services in four operating segments: North + West, which executes construction services of nearly any kind and size with a focus on Germany, Poland, the Benelux countries and Scandinavia; South + East is focused on Austria, Switzerland, Hungary, the Czech Republic, Slovakia, Russia and neighbouring countries as well as on the region South-East Europe; International + Special Divisions, which include on the one hand, the field of tunneling and the concessions business; and Other, which contains the intra-company Central Divisions and Central Staff Divisions.

Provider
Raiffeisen Bank International AG - Institutional Equity
Raiffeisen Bank International AG - Institutional Equity

The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.

The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.

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