STRABAG SE kicks off new financial year with record order backlog
Output Volume
In 2024, STRABAG SE achieved an output volume of €19.24 billion, marking a slight increase of 1% compared to the previous year. The growth was driven by strong performance in Poland, as well as significant gains in Germany’s infrastructure and building solutions sectors. There were also notable increases in output in Italy and the Middle East. However, the company experienced a decline in Austria and Hungary, as expected.
Order Backlog
STRABAG’s order backlog reached a record high of €25.36 billion by the end of 2024, reflecting an 8% increase compared to 2023. The company saw a particularly sharp rise in the order backlog in Germany, especially in infrastructure and civil engineering. Projects like network expansion for the energy transition, valued at over €1.1 billion, contributed to this growth. Other significant projects included the general overhaul of the Hamburg–Berlin railway line and the replacement of the Kriegenbrunn shipping lock in Bavaria.
In addition to Germany, STRABAG secured projects in Slovakia, the Czech Republic, Poland, Romania, and Austria. Notably, Austria showed early signs of a recovery in residential construction in the fourth quarter of 2024. However, in the United Kingdom, the order backlog showed a decline, mainly due to the completion of large projects.
Internationally, STRABAG won contracts for a rapid transit line in Toronto and residential development in Abu Dhabi, among other projects.
EBIT Margin
STRABAG expects an EBIT margin of approximately 6% for the 2024 financial year, significantly exceeding initial forecasts. The higher-than-expected margin was due to positive earnings effects in the North + West segment and a reduction in negative impacts from the international project business compared to the previous year.
Employee Growth
The company’s workforce grew slightly by 1%, with an average of 78,174 FTEs in 2024. The largest increases were recorded in Germany and the Benelux region, as a result of STRABAG’s strategic acquisitions, particularly in the building solutions business, such as mechanical and electrical services and energy management. There were also minor fluctuations in other regions, with some countries experiencing a slight reduction in workforce.
Outlook for 2025
Looking ahead to 2025, STRABAG SE is forecasting a significant increase in output volume, estimating it will reach approximately €21 billion. This growth is expected to be driven by the high order backlog and anticipated contributions from recent acquisitions. The company expects an increase in output across all operating segments in 2025, further bolstered by the continued expansion in its international markets.
Despite several positive earnings effects in 2024, STRABAG anticipates the EBIT margin will normalize in 2025. However, the company is raising its EBIT margin target for 2025 to ≥ 4.5%, taking into account the tangible effects of its Group Strategy, which aims to drive long-term growth and profitability.
Net Investments
STRABAG expects net investments (cash flow from investing activities) to be up to €1.1 billion in 2025. This increase is primarily due to planned acquisitions in line with STRABAG’s long-term Strategy 2030. The investments are aimed at strengthening the company’s position in key markets and expanding its capabilities in the construction industry.
Regional Breakdown
- North + West
In the North + West region, STRABAG reported an output volume of €8.24 billion, relatively stable compared to 2023. The order backlog increased by 8%, reaching €12.09 billion. Employee numbers in this region grew by 1%, reaching 22,392 FTEs. - South + East
In the South + East region, output volume declined slightly by 3%, totaling €7.50 billion. However, the order backlog grew by 9% to €7.74 billion. The workforce in this region decreased slightly by 1%, with 26,852 FTEs. - International + Special Divisions
STRABAG saw an 11% increase in output volume in its international and special divisions, which totaled €3.27 billion. The order backlog grew by 7% to €5.51 billion, and the workforce increased by 4%, reaching 21,255 FTEs. - Other
In other segments, STRABAG’s output volume grew by 2%, amounting to €228 million. The order backlog surged by 22% to €31 million, and the workforce in this segment grew by 1%, totaling 7,675 FTEs.
