Business News

Despite Construction Slump, Strabag's Profit, Sales Up

Ljubljana, 31 May (STA) - The Slovenian branch of Austrian builder Strabag posted net sales of EUR 53.8m for 2012, up 24.7% year-on-year. Net profit rose more than 44% to EUR 3.4m, despite the prolonged slump of the Slovenian construction industry.

"We've fulfilled our expectations and achieved our targets. We remain optimistic," the company's head of building construction Dietmar Cerjak told the press in Ljubljana.

Strabag generated over two-thirds of revenue with building construction and 30% with transport infrastructure.

Despite the upbeat results, Cerjak complained about the lack of transparency in public contracting.

Strabag entered many public contracts and was often the best bidder, but it nevertheless encountered obstacles time and time again, he said.

Interestingly, Strabag made the top ten of a list of the best companies in Slovenia released today by Finance.

It places 9th in combined rankings taking into account sales growth, gross profit growth, return on equity, return on assets and added value per employee.

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