Round-up: What we learned from AtkinsRéalis, Eiffage and Strabag’s Q3 updates

Acquisitions, sustained contracting activity and a sharp increase in nuclear engineering work as governments revisit long-term energy strategies were among the drivers of growth for the three firms.

Here’s a summary of the developments at each company:

Australian acquisition propels Strabag growth

Austria-based construction group Strabag posted a 6% increase in output to €14.4 billion for the first nine months of 2025, while its order backlog rose by 24% year-on-year, reaching a record €31.4 billion, making it the first time the backlog has exceeded €30 billion.

Stefan Kratochwill (Image: Strabag)

Strabag said that roughly half its overall output growth was thanks to the acquisition of Georgiou Group in Australia, a deal it completed in March this year.

By region, Strabag’s North & West division saw output increase 1% to just under €6 billion, with a 13% increase in backlog to €13.8 billion.

In the South & East division, output was up 2% to €5.4 billion and backlog was up 4% to €8.4 billion.

The company saw particularly dramatic growth in its International & Special divisions, where output was up 30% to just under €3 billion and its backlog shot up 83% to €9.1 billion. This was driven by the Georgiou Group acquisition.

But in its “Other” segment, output was down 32% to €127 million and backlog was down 24% to €17.4 million.

Average employment increased by 2% to 79,863 full-time equivalents, driven mainly by the acquisition of the Australian Georgiou Group and expansion in Poland, the Middle East, the Czech Republic and Germany.

Strabag said it had slightly reduced its output forecast for the full year to around €20.5 billion (but stressed this still represented growth of around 7%). Meanwhile, the company has raised its target for EBIT margin to greater than or equal to 5%.

Stefan Kratochwill, CEO of Strabag, said, “That our order backlog has surpassed €30 billion for the first time clearly demonstrates that our focus on growth markets such as energy and water infrastructure, mobility and high-tech construction is paying off. The consistent implementation of our Strategy 2030 is clearly reflected in our results. Despite challenges in individual markets, we continue to expect clear output growth for the full year 2025 – once again proving our strength and resilience.”

Eiffage bullish on contracting as revenue increases in 2025

An Eiffage Construction work van in Bordeaux, France. Image: Adobe Stock

France-based construction and concessions giant Eiffage is expecting revenue to rise in all of its contracting divisions for the full year in 2025, as it posted a 7.9% actual-terms increase for the nine months to 30 September 2025 to €18.3 billion.

Eiffage said its revenue rose 4.3% over the period on a like-for-like basis as compared to the year before.

Contracting revenue was up 9% to €15.3 billion for the nine-month period (up 4.6% like for like).

And within contracting, construction was up 5.3%, infrastructure up 8.3%, energy systems up 11.8% in actual terms.

Meanwhile, its concessions revenue grew 2.8% to €3 billion.

On a geographical basis, France still accounted for the bulk of revenue, generating €11.8 billion over the nine-month period, which was a 4.2% increase in actual terms and a 4.1% like-for-like increase. Revenue in Europe but excluding France was €6.5 billion, up 15.2% on an actual basis and 4.6% like for like. Outside Europe, it was €591 million, down 2.5% on a like-for-like basis.

Eiffage’s order book for contracting stands at €30.8 billion (up 7% year on year), representing approximately 17.8 months of revenue.

Sharp increase in nuclear work for AtkinsRéalis

Canada-based engineering services and nuclear firm AtkinsRéalis reported strong revenue and earnings growth as demand for engineering and nuclear services continued to strengthen across its key markets.

Image courtesy of AtkinsRéalis

Total revenue for the three months to 30 September 2025 rose 15% year on year to C$2.8 billion (US$2 billion).

For the first nine months of the year, revenue was almost C$8.1 billion (US$5.9 billion), which was a 14.3% increased on the previous year. Net income over the nine-month period rose to C$2.5 billion (US$1.8 billion), up from just C$231.4 million in the same period a year before.

The company’s total backlog reached a record C$21 billion (US$15.3 billion), around 20% higher than at the end of 2024. Engineering Services Regions posted steady growth, supported by demand across infrastructure and energy-related programmes.

The strongest gains came from the nuclear division, where revenue for the quarter grew by almost 62% to C$596.5 million (US$435 million). The increase reflects greater activity as western governments move to restart or accelerate nuclear power plant construction and life-extension programmes. Linxon, AtkinsRéalis’s grid-focused business, also recorded double-digit revenue growth.

AtkinsRéalis said its combined engineering and nuclear offering positions the Group well for further expansion, although it noted more moderate conditions in some regional engineering markets.