Strabag hails record result in first financial results after death of CEO Klemens Haselsteiner

Haselsteiner died unexpectedly aged just 44 in January 2025. Stefan Kratochwill, who has worked for the company since he joined as a trainee in 2003, was appointed to the role of CEO in February 2025.

Strabag hailed its performance for the 2024 financial year as its “best result to date”. It highlighted a 1% year-on-year increase in output to €19.2 billion and an 8% rise in its order book to €25.4 billion.

The company’s revenue fell slightly, by 1% year on year, to €17.4 billion, while EBITDA increased 16% to €1.6 billion. Net income after tax rose by 31% to €823 million.

Revenue in its North + West division (which covers Germany, Switzerland, the Benelux countries and Scandinavia) was down 1% year on year to €7.2 billion. The company’s order backlog there increased by 8% to €12.1 billion, driven by a strong Germany infrastructure and civil engineering sector. The Germany residential market remains weak.

In the South + East division (Austria, Poland, the Czech Republic, Slovakia, Hungary and South East Europe), revenue fell 3% to €7.1 billion amid a weak Austrian residential market and a public investment freeze in Hungary. The order backlog in the region was up 9% to €7.7 billion amid growth in nearly all its core markets.

Revenue in the International + Special Divisions arm of the company was up 3% to €3.1 billion. The order backlog was up 7% to €5.5 billion thanks to growth in Germany, Poland (real estate project development), and Austria (tunnelling and tunnel equipment projects).

Kratochwill said, “In 2024, we again demonstrated our financial strength and achieved the best results in our company history. A record order backlog with pioneering projects in areas such as infrastructure, energy and high-tech production provides a promising foundation for the year 2025.”