Strabag gets rid of Conwert stocks
Building business top dog Strabag SE has ended its participation in Viennese real estate company Conwert Immobilien Invest SE (Conwert).Strabag, which is Austrias leading construction company, announced yesterday (Tues) that it has sold all of its 2.053 million Conwert share certificates.Conwert focuses on the acquisition and development of exclusive apartments in cities across Austria, Germany, Slovakia, Hungary and in the Czech Republic. Its earnings before interest and taxes (Ebit) increased by 51 per cent year on year to 110.7 million Euros in the first nine months of 2010. The firm is quoted on the Vienna Stock Exchanges (WBAG) Prime Market. One Conwert stock had a value of 11.76 Euros at 11am today.Strabags earnings before interest and taxes (Ebit) climbed by 10 per cent year on year to 192.7 million Euros in the first nine months of 2010. Analysts had expected the firms Ebit in that period to range around 176 million Euros. One Strabag share was valued at 22.45 Euros at the WBAGs Prime Market at 11am today.