Since my $DHL (+1,31%) limit for the purchase in August did not work out, the choice was now between $CWC (+0,51%) and $STR (+0,19%)
The Austrian company Strabag confirmed its forecast for the year with the presentation of its half-year figures on Friday (August 30). With construction output of around EUR 19.4 (previous year: 19.1) billion, the EBIT margin is expected to be at least 4%. A figure of 5% was achieved in the previous year, and the margin is set to rise to 6% by 2030.
Overall, however, the figures for the first six months were solid: With construction output virtually unchanged at EUR 8.3 billion and sales down by 2.9%, EBITDA increased by 2.2%. Higher depreciation and amortization caused EBIT to fall by 6.2%. However, this does not worry us any more than the thin EBIT margin of 1.1%, which was at a similar level in the previous year. This is because the majority of profits are generated in the second half of the year.
The 4% increase in the order backlog to a record level of EUR 25.2 billion is very pleasing. According to CEO Clemens Haselsteiner, Strabag already has "good visibility towards 2026". More than half (53%) of the orders come from Germany, while the home market of Austria only accounts for 10%. And the trend is continuing. For example, Strabag was recently awarded the contract to build a highway bridge on the A7 in Hesse.
The Group is also active in Germany in the area of the energy transition, where it is taking on central civil engineering work on the European energy infrastructure project "SuedOstLink", among other things. This major project aims to efficiently transport wind energy from the north and east to the south of Germany. The share (EUR 39.30; AT0000STR1) has been trading sideways for over three years, which is probably also due to the failed sale of the Rasperia share package (see PB of January 12) to RBI.
Strabag, 2025 P/E of 8 and a dividend yield of 5.7%.
Question: @Freya-Odin
@TomTurboInvest
@TomTurboInvest_100k
@Der_Dividenden_Monteur
@CaYaRo
Are you still invested?
