Strabag stock gains as 9M output rises and margin outlook improves

Published on 11/13/2026 at 11:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Strabag stock remains in focus after stronger nine-month output and a higher 2026 margin target. The order backlog supports project visibility.

Growth lifts the 2026 outlook

STRABAG increased nine-month output by 14% year on year, with third-quarter output up 17%.
The order backlog reached EUR 34.97 billion at September 30, an annual increase of 12%.
Management raised the 2026 EBIT margin target to 6% to 6.5% while retaining its output forecast of close to EUR 23 billion.

Strabag, AT000000STR1, Illustration mit AI erstellt.

STRABAG SE reported stronger operating momentum for the first nine months of 2026 on Thursday, November 12. In its nine-month trading statement, the construction group said output rose 14% year on year to EUR 16.49 billion. Third-quarter output increased 17%, extending the double-digit growth reported in the first half.

Germany was the main growth driver, with output there rising by more than 20%. STRABAG cited energy and railway infrastructure as well as high-tech industrial construction. Progress on major projects and the acquisition of Van Elle also supported output in the United Kingdom, while Austria, the Czech Republic and Croatia recorded significant increases.

Backlog supports project visibility

The order backlog stood at EUR 34.97 billion on September 30, up 12% from a year earlier, or EUR 3.6 billion. International and special divisions posted the strongest segment increase, with backlog rising 31% to EUR 11.91 billion. North + West backlog advanced 6% to EUR 14.59 billion, while South + East remained broadly stable at EUR 8.44 billion.

STRABAG said new orders in the third quarter included an electric heavy-goods-vehicle charging network, industrial and healthcare facilities in Germany, a replacement underground railway tunnel in Berlin and a twin-bore motorway tunnel on Croatia's A7. After the reporting period, a STRABAG-led consortium became preferred bidder for the D35 motorway public-private partnership in the Czech Republic, a project with an estimated concession value of EUR 2.9 billion.

Margin target moves higher

Chief Executive Stefan Kratochwill said the company now had a clearer view of the full year after two quarters of strong operating performance. Management raised the 2026 EBIT margin guidance to 6% to 6.5%, from 5.5% to 6% previously, while keeping the output forecast at close to EUR 23 billion. The company attributed the margin improvement to higher-than-expected contributions from major infrastructure projects and recovering asphalt-paving demand in the North + West segment.

The forecast for net investments remains capped at EUR 1.5 billion. STRABAG said the amount primarily reflects construction machinery purchases and acquisitions under its Strategy 2030. Average employment reached 81,695 full-time equivalents in the first nine months, 2% above the prior-year period.

Stock trades above Thursday close

Strabag stock traded at 107.50 euros on Lang & Schwarz at 11:34 CET on Friday, November 13, 0.28% above the Xetra close of Thursday, November 12, at 107.20 euros. The earlier premarket indication was 106.60 euros at 08:37 CET, according to the market report. For investors, the higher margin target shifts attention from order intake to the conversion of the backlog into profitable output.