EANS-News: Construction group STRABAG SE confirms solid outlook

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Earnings Forecast/Outlook

Wien (euro adhoc) - * EBIT forecast 2011 raised to EUR 340 million,
net income after minorities still expected at EUR 185 million * 2012:
Growth with inflation likely * Adjusted forecasts of subsidiary
STRABAG AG, Cologne, have no impact on STRABAG SE outlook

Vienna, 21 November 2011 The turbulence caused by the euro debt
crisis has so far not affected the output or the expected results of
the STRABAG Group over the course of the current 2011 financial year.
While state investment programmes in markets such as Germany had
supported the construction industry through the middle of the year,
the sector already has several difficult years behind it in countries
with lower public-sector spending - such as Hungary - or in the
Adriatic region.

The course of business so far this year has shown notably higher
results in Poland as well as internationally, where significant
write-downs had dampened results the year before. On the other hand,
the company has had to accept market-dependent losses in the
construction materials business as well as losses due to the low
capacity use of large equipment and machinery in the fields of
waterway and railway construction. A loss-making project in
Scandinavia as well as one-off costs related to the integration of
transacted enterprise acquisitions in Germany led STRABAG AG,
Cologne, a subsidiary of STRABAG SE, to downwardly adjust its results
estimate. An ad-hoc notice in this regard was released on 21 November
2011.

Thanks to the successful strategy of regional diversification and the
related diversification of risk, however, STRABAG SE can confirm its
existing forecast for the further general course of business.
Nevertheless, individual parameters are being adjusted in the face of
the more detailed information that is now available for the 2011
financial year:

STRABAG had previously expected earnings before interest and taxes
(EBIT) of EUR 320 million, corresponding to a margin on the output of
2.3 %. Less the expected interest result, a tax rate of 30 % and
minority interest of approximately EUR 25 million, this would have
resulted in net income after minorities of EUR 185 million. This
target remains unchanged; however, STRABAG is raising its forecast
for the EBIT to EUR 340 million and for minority interest to EUR 40
million.

The outlook for the output remains at EUR 14.0 billion for the full
year 2011. This corresponds to an expected rise of around 10 % over
the previous year. The segments Building Construction & Civil
Engineering, Transportation Infrastructures and Special Divisions &
Concessions as well as Other are expected to contribute EUR 5.1
billion, EUR 6.3 billion, EUR 2.5 billion and EUR 0.1 billion to the
output, respectively.

For 2012, STRABAG remains convinced of growing at most with inflation
across all markets and of raising its output to approximately EUR
14.3 billion. STRABAG bases these forecasts on the assumptions that
the economic framework in Europe will remain unchanged in the coming
year. This means that the financing environment for our private and
industrial clients may not worsen, at the same time that a rapid
recovery of the conditions or significantly higher government
spending is not to be expected in the STRABAG core markets.

The forecasts made in May 2011 on the individual results-related
items and planned expenditures are currently being reworked and will
not be published until after clear and meaningful information becomes
available on the general economic situation and on the political
decisions regarding the euro debt crisis, most likely, however, in
the spring of 2012. STRABAG expects that earnings in the
Transportations Infrastructures segment will stay weak in the next
year, while a compensating development of the other segments could be
possible.

Further inquiry note:
STRABAG SE
Diana Klein, CFA
Head of Corporate Communications
Tel: +43-1-22422-1116
diana.klein@strabag.com

end of announcement euro adhoc
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company: STRABAG SE
Donau-City-Straße 9
A-1220 Wien
phone: +43 1 22422 -0
FAX: +43 1 22422 - 1177
mail: www.strabag.com
WWW: investor.relations@strabag.com
sector: Construction & Property
ISIN: AT000000STR1, AT0000A05HY9
indexes: WBI, ATX Prime, ATX, SATX
stockmarkets: official market: Wien
language: English