Strabag records strong first half

Strabag recorded sales of € 4,7 billion in the first half of 2008, an increase of +18% on the € 4 billion recorded during the first half last year.

Supported by a record order backlog of € 13,7 billion, up +28% on the same period in 2007, the company has upgraded its 2008 outlook.

“The order backlog to June covers more than 100% of the planned construction output for the year,” the company said in a statement.

The building construction and civil engineering segment is responsible for 56% of the order backlog with transport infrastructure accounting for a further 25%.

“Expansion in Russia is on track, lending an additional boost to the group’s earnings development,” said the company in a statement. Russia’s order backlog stands at € 2 billion to account for 15% of the entire backlog.

“Despite critical voices regarding the current economic environment and the weak international stock markets, I remain convinced that Strabag will keep its promises and deliver attractive results in the 2008 financial year,” said Hans Peter Haselsteiner, CEO of Strabag SE.