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STRABAG SE increases earnings and raises 2026 guidance 6M Results 2026 © TenneT Germany
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Disclaimer 2 This presentation is made by STRABAG SE (the "Company") solely for use at investor meetings and is furnished to you solely for your information. This presentation speaks as of August 2026. The facts and information contained herein might be subject to revision in the future. Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. None of the Company or any of its parents or subsidiaries or any of such person's directors, officers, employees or advisors nor any other person (i) accepts any obligation to update any information contained herein or to adjust it to future events or developments or (ii) makes any representation or warranty, express or implied, as to, and no reliance should be placed on, the accuracy or completeness of the information contained in this presentation. None of the Company or any of its parents or subsidiaries or any of their directors, officers, employees and advisors nor any other person shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, directly or indirectly, from any use of this presentation. The same applies to information contained in other material made available at the meeting. This document is selective in nature and is intended to provide an introduction to, and overview of, the business of the Company. Where any information and statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate. This presentation contains forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which the Company operates. These statements generally are identified by words such as "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements, including but not limited to assumptions, opinions and views of the Company or information from third party sources, contained in this presentation are based on current plans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. The Company does not represent or guarantee that the assumptions underlying such forward-looking statements are free from errors nor do they accept any responsibility for the future accuracy of the opinions expressed in this presentation. No obligation is assumed to update any forward-looking statements. By accepting this presentation, you acknowledge that you will be solely responsible for your own assessment of the market and of the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company's business. Rounding differences may occur due to the use of automated calculation aids.
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Today’s speaker 3 Stefan Kratochwill CEO STRABAG SE
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4 01 Highlights 6M 2026 © kelag
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Infrastructure projects drive growth momentum 5 HIGHLIGHTS 6M 2026 Strong first half delivers new record levels € 10.0 bn +12% vs. 6M 2025 € 36.0 bn +27% vs. 30 Jun 2025 € 174 mn +35% vs. 6M 2025 6M output reaches € 10 bn for first time Double-digit growth despite a later start to the year Order backlog at new all-time high Strong order intake in Germany and international markets Highest EBIT in a first half-year Strong earnings contributions from North + West © Autobahn Westfalen
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Infrastructure remains key growth driver HIGHLIGHTS 6M 2026 6 Strong momentum in infrastructure construction, above all in rail and energy infrastructure Positive tendering environment across Germany, CEE and Australia Solid developments in public building construction as well as commercial and industrial construction Residential construction activity higher year-on-year Major infrastructure project wins increased share of public contracts in 6M 2026 Further development dependent on interest rates, financing conditions, and construction and land prices Infrastructure Building construction Public vs. private Infrastructure, civil engineering & tunnelling > 50% of Group output volume Residential construction< 10% of Group output volume Public customers> 70% Client structure STRABAG more than offsets declining trends in individual construction segments
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HIGHLIGHTS 6M 2026 Major projects acquired in key strategic areas 7 Operating segments: North + West South + East International + Special Divisions N+W 2 Germany N.A. © DB PSU © Wasserstraßen-Neubauamt Aschaffenburg (WNA) N+W 4 Germany ~ € 380 mn S+E 6 Poland ~ € 255 mn I+S 5 Australia ~ € 490 mn © TWR Media I+S 1 Chile ~ € 800 mn © ZÜBLIN International GmbH Chile SpA © STRABAG S+E 3 Slovenia ~ € 194 mn © STRABAG 1 Transformation of Chile’s largest open-pit copper mine Chuquicamata into underground operation 2 Pfaffensteig Tunnel: increasing capacity on a key German railway corridor 3 Final section of Slovenia’s 3rd Development Axis (Northern Corridor) – Lot A Velenje expressway 4 Replacement of the Erlangen lock on the Main–Danube Canal 5 Major rail infrastructure projects supporting the Brisbane 2032 Olympic Games 6 Modernisation of 31 km railway section between Maksymilianowo and Wierzchucin
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M&A YTD 2026 Strategy execution supported by external growth 8 1 Van Elle Strengthens STRABAG's local presence in the UK One of the leading British ground engineering companies ~ € 150 mn revenue | ~ 600 employees 2 Daroconstruct Strengthens regional presence in eastern Romania Expands building, road, bridge and pipeline construction capacities ~ € 70 mn revenue | ~ 400 employees 4 Cermont Expands steel construction and fabrication capabilities in Poland Strengthens position in industrial and commercial construction ~ € 50 mn revenue | ~ 190 employees 3 BAWI Construction Strengthens railway construction business in South-East Europe Adds specialist railway expertise and a skilled local workforce ~ € 60 mn revenue | ~ 240 employees 4 Van Elle Cermont CLOSED 1 2 Daroconstruct IN PROGRESS BAWI 3 IN PROGRESS IN PROGRESS © HS2 Ltd© STRABAG © STRABAG©Tasmida/stock.adobe.com
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9 02 Financial Review 6M 2026 © Georgiou Group
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FINANCIAL REVIEW 6M 2026 Output and order backlog at record highs Output volume | € mn Double-digit output growth Later start of road construction projects due to cold weather in January and February Growth accelerated in Q2, driven by major infrastructure projects Largest increases in Germany, the UK, the Czech Republic and Croatia Order backlog | € mn 6M 2024 6M 2025 6M 2026 8,329 8,905 9,983 +12% 6M 2025 2025 6M 2026 28,366 31,375 35,985 +15% Record order backlog Notable increases in Germany, the Americas, Australia, Austria and CEE Major mobility, energy infrastructure and mining contracts secured Order backlog-to-output ratio increased to 1.6 years 10 Output volume by region | % 49 13 22 8 8 Germany Austria CEE Rest of Europe Rest of world 47 8 18 16 11 Germany Austria CEE Rest of Europe Rest of world Order backlog by region | % +27% Q1 +4% | Q2 +18%
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FINANCIAL REVIEW 6M 2026 Profitable growth delivers all-time high earnings 11 EBITDA | € mn EBITDA up 30% to € 560.1 mn EBIT | € mn D&A up 28%; excl. € 50 mn goodwill amortisation, up 11%, reflecting higher asset base from Strategy 2030 EBIT at € 174.4 mn, up 35% year-on-year; 6M EBIT margin at 1.9% (6M 2025: 1.6%) Strong performance in North + West; improvement in South + East despite cold weather in Q1 Net income after minorities | € mn Net interest income at € 29.4 mn (6M 2025: € 15.4 mn), driven by near-zero FX effects1) and higher interest income Net income after minorities exceeds prior-year level and reaches record high 92 95 119 6M 2024 6M 2025 6M 2026 +25%359 431 560 6M 2024 6M 2025 6M 2026 +30% 82 129 174 6M 2024 6M 2025 6M 2026 +35% 1) FX effects: € -13.0 mn in 6M 2025; € 0.1 mn in 6M 2026
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FINANCIAL REVIEW 6M 2026 Robust balance sheet with typical seasonal effects Net cash position | € mn Net cash position remains robust Net cash position lower than at year-end due to seasonality, but up year-on-year Seasonal working capital build-up and investments as part of Strategy 2030 Customer prepayments remain at a high level Equity ratio sustainably above 30% Dividend of € 2.90 per share for 2025 paid in June 2026 Investment grade rating S&P rating: BBB+, stable Equity ratio | % 2023 30 Jun 2024 2024 30 Jun 2025 2025 30 Jun 2026 2,643 1,619 2,905 1,868 3,518 2,606 +40% 33.3 2021 31.7 2022 32.2 2023 34.1 2024 35.9 2025 32.7 30 Jun 2026 Target ≥ 25% 12
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FINANCIAL REVIEW 6M 2026 Sustained strong cash position 13 11 678 245 19 Cash 1.1.2026 CFO CFI CFF FX changes Cash 30.06.2026 4,323 3,430 Cash development | € mn € mn 30.06.2026 30.06.2025 Cash and cash equivalents at the beginning of the period 4,323 3,724 Cash flow from earnings 352 320 ∆ Working Capital -341 -605 Cash flow from operating activities (CFO) 11 -284 Cash flow from investing activities (CFI) -678 -430 Cash flow from financing activities (CFF) -245 -262 Net change in cash and cash equivalents -912 -977 FX changes 19 4 Cash and cash equivalents at the end of the period 3,430 2,751 Strong liquidity and financing profile CFO turned positive, driven by higher cash flow from earnings and lower working capital build-up Higher CFI outflow, mainly due to M&A activities in line with Strategy 2030 Lower CFF outflow despite the higher dividend; increase in non-recourse debt to refinance Hold Estate portfolio € 10.5 bn in cash and surety lines No bonds outstanding
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14 03 Operational Review 6M 2026 © STRABAG Energy-Invest
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OPERATIONAL REVIEW 6M 2026 North + West: Germany drives strong segment performance Key Indicators Performance 6M 2026 Output volume − Growth across all business areas in Germany − Strongest increase from energy infrastructure, rail and bridge construction − Additional contributions from Sweden and Switzerland Order backlog − Strong order intake in Germany, driven by major infrastructure projects − Building construction and civil engineering also contribute to backlog growth EBIT − Exceptionally high EBIT driven by the German infrastructure business − Higher earnings from mobility and energy infrastructure projects Output volume | € mn 6M 2024 6M 2025 6M 2026 3,589 3,640 4,292 +18% Order backlog | € mn 15 6M 2024 6M 2025 6M 2026 12,035 13,000 14,748 +13% € mn 6M 2026 6M 2025 Δ% Output volume 4,292 3,640 18 Revenue 3,758 3,135 20 Order backlog 14,748 13,000 13 EBIT 182 83 119 EBIT margin (% of rev.) 4.9 2.7 Employees (FTE) 23,837 23,070 3 Outlook on 2026 output
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OPERATIONAL REVIEW 6M 2026 South + East: Broad-based growth across CEE and SEE Key Indicators Performance 6M 2026 Output volume − Growth driven primarily by Czech Republic and Croatia − Infrastructure main growth driver across all construction segments Order backlog − Transport infrastructure and civil engineering drive backlog growth − Strong order intake in Slovenia, Austria and Poland EBIT − EBIT less negative despite delayed start of road construction projects − Weather-related declines offset by earnings improvements in selected CEE and SEE countries − Segment typically negative at half-year due to higher share of road construction projects Output volume | € mn 6M 2024 6M 2025 6M 2026 3,144 3,184 3,367 +6% Order backlog | € mn 16 6M 2024 6M 2025 6M 2026 8,079 8,535 8,672 +2% Outlook on 2026 output € mn 6M 2026 6M 2025 Δ% Output volume 3,367 3,184 6 Revenue 3,189 3,019 6 Order backlog 8,672 8,535 2 EBIT -68 -72 6 EBIT margin (% of rev.) -2.1 -2.4 Employees (FTE) 25,316 25,538 -1
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OPERATIONAL REVIEW 6M 2026 International + Special Divisions: Organic and inorganic growth Key Indicators Performance 6M 2026 Output volume − UK and Energy Infrastructure deliver strongest growth, supported by acquisitions of Van Elle and WTE Group − Australia and Infrastructure Development also contributed to growth Order backlog − Major water, mining and rail contracts support backlog expansion − Growth also driven by HARP1) project in UK awarded in H2 2025 EBIT − EBIT impacted by € 50 mn goodwill amortisation related to recent acquisition − Higher earnings contributions from Infrastructure Development, Real Estate Development and Building Solutions Output volume | € mn 6M 2024 6M 2025 6M 2026 1,481 1,993 2,233 +12% Order backlog | € mn 17 6M 2024 6M 2025 6M 2026 5,053 6,811 12,538 +84% Outlook on 2026 output € mn 6M 2026 6M 2025 Δ% Output volume 2,233 1,993 12 Revenue 2,191 1,790 22 Order backlog 12,538 6,811 84 EBIT 79 127 -37 EBIT margin (% of rev.) 3.6 7.1 Employees (FTE) 23,492 22,610 4 1) Haweswater Aqueduct Resilience Programme (~ € 3.0 bn)
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18 04 © Willi Grechenig Share & Outlook 2026
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STRABAG SHARE 19 1) Based on statements contained in the RBI ad-hoc announcement dated 23 July 2026; any outcome remains subject to legal proceedings, enforcement actions and applicable sanctions regulations. Source: Raiffeisen Bank International AG ad-hoc announcement, 23 July 2026 (“RBI and AO Raiffeisenbank (Russia) to file a claim against Rasperia in Austria”) 2) The ongoing asset freeze in line with EU sanctions prohibits MKAO “Rasperia Trading Limited” from exercising all rights associated with its STRABAG SE shares. Current shareholder structure of STRABAG SE (August 2026) Market cap € 10.6 bn Potential resolution path for Rasperia shareholding July 2026 Raiffeisen Bank International AG (RBI) filed claim (~ € 3.15 bn) against Rasperia in Austria Potential enforcement against frozen Austrian assets of Rasperia, including 28.5 million STRABAG shares RBI expects proceeds from enforcement within 6–12 months1) Potential future changes in STRABAG's shareholder structure Haselsteiner Family Free float Treasury shares 20.0% 2.2% 27.0% UNIQA/ Raiffeisen Holding 26.7% MKAO “Rasperia Trading Limited”2) 24.1% 28.5 mn shares
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Strong first-half results lay the foundation for a successful 2026 20 OUTLOOK 2026 Guidance for full-year 2026 raised © STRABAG close to € 23 bn 5.5–6% ≤ € 1.5 bn Output volume Strong first-half growth underpins higher output guidance1) EBIT margin First-half earnings performance supports margin upgrade2) Net investments Outlook for cash flow from investing activities remains unchanged Previous guidance: 1) approx. € 22 bn | 2) 5–5.5%
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Financial calendar 2026/2027 12 11 27 20 11 26 February Initial Figures 2026: Output volume, order backlog, employees and outlook 2027 Publication 7:00 a.m. CET November Trading Statement January-September 2026 Publication 7:00 a.m. CET May Trading Statement January-March 2027 Publication 7:00 a.m. CEST April Annual and Sustainability Report 2026 Publication 7:00 a.m. CEST Investor and analyst conference call 3:00 p.m. CEST August Semi-Annual Report 2027 Publication 7:00 a.m. CEST Investor and analyst conference call 10:00 a.m. CEST June Annual General Meeting 2027 Begin 10:00 a.m. CEST 21 The dates listed here are provisional. All dates are subject to change during the year.
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Contact Marco Reiter Head of Investor Relations marco.reiter@strabag.com Asmir Music Investor Relations Manager asmir.music@strabag.com Natascha Schulz Investor Relations Manager natascha.schulz@strabag.com investor.relations@strabag.com +43 800 880890 strabag.com STRABAG SE Donau-City-Str. 9 1220 Vienna Austria
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23 05 Annex
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ANNEX Consolidated income statement (excerpt) € mn 6M 2026 6M 2025 Δ% Output volume 9,982.67 8,905.19 12 Revenue 9,148.08 7,952.60 15 Changes in inventories/own work capitalised 101.14 105.82 -4 Other operating income 110.41 134.97 -18 Construction materials, consumables and services used -5,737.16 -4,916.07 -17 Employee benefits expense -2,705.16 -2,515.33 -8 Other operating expense -476.46 -457.72 -4 Share of profit or loss of equity-accounted investments 92.43 91.88 1 Net income from investments 26.81 34.66 -23 EBITDA 560.09 430.81 30 EBITDA margin (%) 6.1 5.4 Depreciation and amortisation expense -385.66 -301.44 -28 EBIT 174.43 129.37 35 EBIT margin (%) 1.9 1.6 Net interest income 29.43 15.38 91 Income tax expense -83.99 -47.68 -76 Net income 119.87 97.07 23 attributable to: non-controlling interests 0.81 2.18 -63 attributable to: equity holders of the parent (consolidated profit) 119.06 94.89 25 Earnings per share (€) 1.03 0.82 26 24
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ANNEX Consolidated statement of financial position (excerpt) € mn 30.06.2026 31.12.2025 Goodwill and other intangible assets 851.12 791.36 Rights from concession arrangements 398.54 409.89 Property, plant and equipment/Investment property 3,672.49 3,481.38 Equity-accounted investments 674.63 595.28 Other investments 270.12 210.25 Receivables from concession arrangements 273.48 306.77 Other financial assets 360.00 342.39 Deferred tax 141.88 129.62 Non-current assets 6,642.26 6,266.94 Inventories 1,947.52 1,695.35 Receivables from concession arrangements 65.31 62.80 Contract assets 1,827.38 1,072.55 Trade and other receivables 2,861.85 2,425.04 Cash and cash equivalents 3,430.16 4,323.26 Current assets 10,132.22 9,579.00 Assets 16,774.48 15,845.94 Assets € mn 30.06.2026 31.12.2025 Share capital 118.00 118.22 Capital reserves 1,732.54 1,732.32 Retained earnings and other reserves 3,615.87 3,812.40 Non-controlling interests 21.95 21.08 Equity 5,488.36 5,684.02 Provisions 1,221.29 1,279.47 Financial liabilities1) 684.57 597.83 Other financial liabilities 138.12 56.83 Deferred tax 496.67 417.89 Non-current liabilities 2,540.65 2,352.02 Provisions 1,527.81 1,478.79 Financial liabilities2) 248.82 231.04 Contract liabilities 1,668.39 1,587.68 Trade payables 3,708.43 2,979.20 Other current liabilities 1,592,02 1,533.19 Current liabilities 8,745.47 7,809.90 Equity and liabilities 16,774.48 15,845.94 Equity and liabilities 25 1) Thereof non-recourse bank debt in the amount of T€ 351,003 (31.12.2025: T€ 288,595) 2) Thereof non-recourse bank debt in the amount of T€ 121,190 (31.12.2025: T€ 110,858)