Strabag set to get busier
Strabag SE has said it hopes to be engaged in activities worth 14 billion Euros in 2011, more than it predicted earlier this year.The construction company said today (Tues) it was optimistic about the current year due to a strong first quarter. Strabag, which has its headquarters in Vienna, added that it saw chances to carry out assignments worth 14.3 billion Euros next year after having initially planned for work worth 13.7 billion Euros.The building industry top dog which focuses on roadwork and housing projects in Poland, Germany and other countries in Central and Eastern Europe (CEE) said its earnings before interest and taxes (Ebit) could reach 320 million Euros this year and 330 million Euros in 2012.Strabag carried out orders worth 2.31 billion Euros in the first three months of 2011, up by 26 per cent compared to the first quarter of last year. The company has 72,400 employees in Austria and abroad.The firm, which is listed on the Vienna Stock Exchange (WBAG), recently revealed plans to focus more on activities in Russia due to the high potential of the large Eurasian country. Strabag has already sealed a few deals in the Russian Black Sea resort of Sochi where the Winter Olympics will take place in 2014.Strabag announced last week that a German subsidiary will cooperate with other firms based in the country about building hundreds of wind power stations in the North Sea in the coming 10 to 15 years. Strabags affiliate Strabag Offshore Wind GmbH will be in charge of setting up the concrete foundations of the stations.