Booming Poland boosts Strabag

Strabag SE has said it is “cautiously optimistic” for the remainder of this year due to a “construction boom” in Poland.The Vienna-based company – Austria’s leading building firm – announced today (Thurs) it expected to benefit from the strong economy in Poland and positive developments in Germany.Strabag explained it experienced a strong increase of assignments by private clients in Germany while the number of roadwork projects for Strabag in Europe’s economically strongest country shrank.The firm explained its business activities in Poland were going well thanks to many road construction assignments and other orders. Strabag added that it would have done better in the past months had the continent experienced a less harsh winter.Strabag’s earnings before interest and taxes (Ebit) rose by six per cent to 299 million Euros from 2009 to 2010. The firm had 73,600 employees last year, around 2,000 fewer than the previous year.The company, which is headed by Hans Peter Haselsteiner, and German competitor Hochtief were recently assigned the contract by the German ministry for transport, building and urban development to extend a 58-kilometre motorway stretch in Bavaria.Strabag is quoted on the Vienna Stock Exchange’s (WBAG) Prime Market. One share was traded for 22.48 Euros at 1pm today, down from 23 Euros on 14 April.