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Report of the month

November 2009
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Strabag

Vienna, Austria



Report Facts

Company name: Strabag SE
Fiscal year end: December 31, 2008
Report title: Let’s get to work
Chairman of the Board and CEO: Hans Peter Haselsteiner
Number of books: One
Report length: 160 pages
Auditors: KPMG Austria
Design: Strabag
E-mail: pr@strabag.com

Report Rating

4/5

(Rating scale below)

Profile-Mission (Excerpts, as from the report)

As one of Europe’s leading construction groups... we generated an output of around € 13.7 billion... From our core markets Austria and Germany, we are present... in all countries of Eastern and South-East Europe... services span the entire construction industry and cover the entire valu—added chain in the field of construction. (Italics are own company’s words excerpted from the annual report)

Key Figures

Revenue: EUR 12,22.8 million
EBITDA: EUR 647.7 million
Net income: EUR 166.4 million
Earnings per share: EUR 1.38
Dividend per share: EUR 0.55
Return on capital employed: 5.3%
Equity ratio: 30.5%
Number of employees: 73,008 (Source: 2008 figures sourced from the annual report)

Competitors or Rivals

  • Hochtief
  • Bilfinger Berger
  • Bouygues
  • Vinci
  • Bechtel
  • Fluor
  • ...
 

Triple A

> The report is delivered with a pair of gloves. Not a purposeless gimmick at all, as it tells about the business and kicks off the report theme.
> Maximized use of covers, front and back, outside and inside, for communication: a strong message, key figures, a mailing card, and Why Invest in Strabag SE? as back cover (see Selected Page below).
> Extremely comprehensive key figures, placed in the inside front cover: over 5 years, aggregate and by segment, stressing output, backed with charts.
> Strabag at a Glance makes up a clear introduction to the group and its business areas.
> Strategy at the reader’s fingertips –literally: from group principles to market position, from access to resources to the business model, from acquisitions to cost control.
> Special section about Order Backlog, which is key to (understanding) business development.
 

Double A

> Good Shares, Bonds and Investor Relations chapter, that includes comments, contacts, practical information, a number of share-based figures and ratios, and bonds.
> Financial performance and financing condition well analyzed.
> Transparent boards’ details.
 

Simple A

> Major sustainability issues addressed, but left out of the core annuals.
> Notes to statements do their job, but could tell more.
 

B Sides

> Not the lightest volume.
> Dividend not highlighted.
> Photos tell about projects but seem to be pushed or stuck where and when some space is available.
 

How does the company report in key areas? What are the main report pluses and minuses? The Report Scan gives an overview of strengths and weaknesses, and scores each item.
Contact e.com@reportwatch.net

 

Selected Page

(back cover of Strabag Annual Report 2008)
back cover of Strabag Annual Report 2008
Rating Scale
5
First-Rate
4.5
Excellent
4
Very good
3.5
Sound
3
Average
2.5
Uneven
2
Common
1.5
Substandard
1
Poor
0.5
Uncompetitive
The rating is based on ReportWatch internal desk research and does not take into account the independent Rating Panel’s judgment.