euro adhoc: STRABAG SE / Interim Announcement

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Intermediate report of the management transmitted by euro adhoc. The issuer
is responsible for the content of this announcement.
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30.11.2007

STRABAG SE POSTS STRONG INCREASE IN EARNINGS IN 9M 2007 AS WELL AS IN
Q3

* Profitable growth: output volume in the first nine months of 2007
rose +5 %, EBIT +28 % * Order backlog above EUR 10.8 billion -
Russia´s share already at 11 %, plus of EUR 300 million to EUR 1,180
million. * Outlook 2007: modest growth of construction output to
nearly EUR 11 billion, expectation of improved earnings

Vienna, 30 November 2007 - STRABAG SE, the largest construction
company in Central and Eastern Europe, posted a strong increase in
earnings in the first month of 2007 as well as in the third quarter
2007.

Construction output and Revenue The output volume in the first nine
months of 2007 compared to the same period last year grew by around 5
% to EUR 7,615.0 million. With a plus of 8.6 %, the output volume in
the Central and Eastern European countries grew at a faster pace than
that of the group as a whole. The absolute changes in Germany (EUR
-44.8 million) and Austria (EUR +45.3 million) balanced one another
out. In Hungary, there was a significant decline in the amount of EUR
-141.8 million to report, due largely to the completion of several
major infrastructure projects in the Road Construction segment. The
consolidated group revenue in the first nine months of 2007 stood at
EUR 6,860.9 million, compared to EUR 6,352.8 million in the first
three quarters of 2006. This increase of +8 % can be explained among
others by the additional initial consolidations in the Building
Construction & Civil Engineering and Road Construction segments.

In the third quarter 2007 the segment Tunnelling & Services posted an
extraordinarily high output volume. In this segment the business
development is traditionally volatile due to the high project volume
of the orders. Therefore, counter to the trend of the first nine
months as a whole, both Group output volume (-1 %) and Group revenue
(-4 %) fell in the third quarter 2007. In contrast to that, the
Building Construction & Civil Engineering segment exhibited a
positive trend of output volume and revenue.

Order Backlog and Projects The order backlog as of 30 September 2007
gained 23 % year on year to reach a new record of EUR 10,806.3
million. This amount covers the projected twelve-month calculation of
EUR 11 billion. The increase in the group order backlog was due
mainly to positive developments in the Building Construction and
Civil Engineering segment, especially in Russia. Order backlog in
this market quadruplicated from EUR 300.4 million one year ago to EUR
1,179.6 million this year. Of this amount, EUR 1,145.0 million can be
ascribed to the Building Construction and Civil Engineering segment.

Earnings, Financial Position and Net Worth The limited capacity for
construction in winter results in significant seasonal effects on the
development of earnings and other financial figures of STRABAG SE.
The first two quarters of the year typically have a negative effect
on results, which is then overcompensated by results in the second
half of the year. As a result of the seasonal effects, a quarterly
comparison (to Q2) makes little sense. Furthermore, a higher business
volume results in a more pronounced effect of seasonality on the
earnings development.

While a negative EBIT (Earnings before interest and taxes) had to be
reported in the first six months of the year, the group returned to
the profit zone in the third quarter. EBIT in the first nine months
of 2007 reached EUR 128.3 million, +28 %* over the same period last
year. The profit for the period was up +51 %* to EUR 69.7 million.
The net income after minority interest was EUR 66.3 million.

EBIT in the third quarter 2007 grew by +25 %* year on year to EUR
149.9 million. The year-on-year profit growth for the quarter
amounted to EUR 102.1 million, a plus of around 31 %.*

The balance sheet total compared to 31 December 2006 grew by +11 % to
EUR 6,463.3 million. With the addition of new core shareholder
Rasperia Trading Ltd., indirectly owned by Russian industrialist Oleg
Deripaska, in the third quarter, STRABAG SE´s equity ratio improved
to around 32 %, while net debt fell by -60 % to EUR 273.1 million.
Not yet included in the equity as of 30 September 2007 was the
capital increase from the IPO. In the medium term, STRABAG SE
forecasts an equity ratio of 20-25 %.

At EUR -147.8 million, cash-flow from operating activities was
significantly less negative than in the same period last year (for
comparison: EUR -349.7 million), particularly as the group was able
to significantly reduce accounts receivable. The cash-flow from
investing activities fell significantly from EUR -97.5 million to EUR
-401.7 million due to changes in the scope of consolidation as well
as the strong growth of the operating activities. The cash-flow from
financing activities grew by +180 % to EUR 702.0 million above all
due to the entry of the new core shareholder.

* adjusted for the one time result of the DEUTAG sale in 2006

Employees As a result of the rising construction activity, the
group´s average level of employment rose to 59,287 employees. This
corresponds to an increase of about 14 % compared to the first nine
months of 2006. STRABAG reported the strongest growth in its
workforce in the Middle East, Poland and Russia. In Russia, the
workforce grew by around +82 % to 1,585.

Outlook In the first nine months of 2007, the STRABAG Group laid the
solid foundations for further growth. The proceeds from the IPO,
which are not yet included in the accounts here present, are to be
used among other things to expand the market presence in Central and
Eastern Europe and to strengthen the group´s raw materials base. The
profitable growth trend of the first nine months is to be continued
in the fourth quarter 2007. One focus is the Russian market, with an
emphasis on projects in Moscow, St. Petersburg, Yekaterinburg and, in
the medium term, in Sochi, the site of the 2014 Winter Olympics.
Studies are currently being conducted to determine which construction
projects in the region around Sochi to place bids for. No effect on
output volume or results for the full year 2007 is expected in this
regard. In the Hungarian market STRABAG SE expects a recovering due
to the acceptance for its bid for the construction of the highway M6.
If business proceeds as planned, STRABAG currently expects to report
growth in construction output for the full year 2007 to nearly EUR 11
billion. Furthermore, the profit (adjusted for special items
resulting from the sale of the stake in DEUTAG KG in 2006) is
forecast to surpass last year´s levels.

Statement CEO Hans Peter Haselsteiner Hans Peter Haselsteiner, CEO of
STRABAG SE: "In October 2007, STRABAG SE began trading in the Prime
Market Segment of the Vienna Stock Exchange (Wiener Börse) and was
selected for listing in the ATX index. We plan to use the proceeds
from the IPO to continue to grow. It is a particular pleasure for me,
in our first interim report as a listed company, to be able to report
that in the first nine months of the financial year our profitability
grew significantly more strongly than our output volume. A plus of 28
% in EBIT speaks for itself. We were able to raise our margins by
strategically shifting our activities to more profitable growth
markets and by applying a strict risk management policy. We are
currently working on greatly expanding our market presence. This is
particularly true for Russia, as the margins in that country are
significantly higher than those of the group average. Russia already
contributes 11 % to the group´s order backlog and will contribute
even more in the future. The effects on the 2007 full-year results
will be low, but we expect significant positive effects from this
strategy in the years to come."

end of announcement euro adhoc 30.11.2007 07:30:00
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ots Originaltext: STRABAG SE
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Branche: Construction & Property
ISIN: AT000000STR1
WKN:
Index: ATX, WBI, SATX
Börsen: Wiener Börse AG / official market