Strabag cannot achieve “more than ambitious” €300mn 2012 EBIT

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 3669 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.

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