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The German subsidiaries of STRABAG SE have reported record results for the 2006 financial year.
Construction output in Germany was up to nearly EUR 4 billion (3.98 billion). Around one half of the profits came from the road construction segment, carried out under the STRABAG name, and one half from the building construction and civil engineering segment, conducted under the Züblin brand.
With these results, Germany remains the most important contributor to overall turnover, contributing 38% to the group results. STRABAG is market leader in Germany.
CEO Dr. Hans Peter Haselsteiner was particularly pleased with the operating result of the German STRABAG AG in Cologne: “We were able to more than triple the result from 40 million in 2005 to 145.1 million in 2006.”
The exceptionally good results can be explained by three factors, says Haselsteiner: “Firstly, we worked hard and therefore had truly good earnings in our operating business. Secondly, the sale of one of our real-estate portfolios proved to be a nice success. And thirdly, we sold our stake in our asphalt aggregate supplier DEUTAG Gmbh to fulfil the conditions required under cartel law.”
Parts of the proceeds from the sale were immediately invested in further acquisitions: in northern Germany, for the acquisition of the construction firm PREUSSE; in Bavaria, for the remaining 50% of STRATEBAU.
The strategic direction in the coming years will be focused on the continued expansion of the market position with special emphasis on investments in the raw materials sector.
The first few months of 2007 have also proven to be highly satisfactory: in Germany, STRABAG has already achieved growth of 5.6%.
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STRABAG SE is one of Europe’s leading construction groups. With nearly 53,000 employees, STRABAG expects to post revenue of around EUR 10 billion in the ongoing financial year. From its core markets Austria and Germany, STRABAG is present via its numerous subsidiaries in all countries of Eastern and South-East Europe, in selected markets in Western Europe and the Arabian Peninsula, as well as in Canada, Chile and China. STRABAG’s activities span the entire construction industry (Building Construction and Civil Engineering, Road Construction, Services) and cover the entire value-added chain in the field of construction. More information is available at www.strabag.com
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