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Annual Report 2020 2

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Annual Report 2020 2 …thanks. And you? Annual Report 2020 2 KEY FIGURES KEY FINANCIAL FIGURES 2016 2017 2018 2019 ∆ % 2020 Output volume (€ mln.) 13,491.03 14,620.89 16,322.88 16,617.97 -7 15,446.61 Revenue (€ mln.) 12,400.46 13,508.72 15,221.83 15,668.57 -6 14,749.74 Order backlog (€ mln.) 14,815.79 16,591.87 16,899.71 17,411.48 5 18,369.02 Employees (FTE) 71,839 72,904 75,460 76,919 -3 74,340 KEY EARNINGS FIGURES 2016 2017 2018 2019 ∆ % 2020 EBITDA (€ mln.) 855.18 834.58 952.60 1,113.30 5 1,174.45 EBITDA margin (% of revenue) 6.9 6.2 6.3 7.1 8.0 EBIT (€ mln.) 424.91 448.36 558.21 602.58 5 630.65 EBIT adjusted (€ mln.)1 397.10 502.90 EBIT margin (% of revenue) 3.4 3.3 3.7 3.8 4.3 EBIT margin adjusted (% of revenue)1 3.2 3.3 EBT (€ mln.) 421.13 421.21 530.78 577.24 6 610.05 Net income (€ mln.) 282.00 292.36 362.78 378.56 5 399.06 Net income after minorities (€ mln.) 277.65 278.91 353.53 371.70 6 395.22 Net income after minorities margin (% of revenue) 2.2 2.1 2.3 2.4 2.7 Earnings per share (€) 2.71 2.72 3.45 3.62 6 3.85 Cash flow from operating activities (€ mln.)2 264.17 1,345.19 788.98 1,075.94 19 1,279.66 ROCE (%) 6.4 6.7 7.6 7.5 7.5 Investments in property, plant and equipment, and in intangible assets (€ mln.) 412.46 457.62 644.99 689.25 -21 544.13 KEY BALANCE SHEET FIGURES 2016 2017 2018 2019 ∆ % 2020 Equity (€ mln.) 3,264.59 3,397.72 3,653.77 3,855.90 7 4,108.22 Equity ratio (%)2 31.5 30.7 31.6 31.5 33.9 Net debt (€ mln.) -449.06 -1,335.04 -1,218.28 -1,143.53 53 -1,747.23 Gearing ratio (%) -13.8 -39.3 -33.3 -29.7 -42.5 Capital employed (€ mln.) 5,258.17 5,242.91 5,552.09 5,838.71 0 5,815.14 Balance sheet total (€ mln.) 10,378.41 11,054.12 11,567.61 12,250.81 -1 12,134.44 EBITDA = earnings before interest, taxes, depreciation and amortisation EBIT = earnings before interest and taxes EBT = earnings before taxes ROCE = (net income + interest on debt - interest tax shield (25 %)) / (average group equity + interest-bearing debt) Net debt = financial liabilities - non-recourse debt + provisions for severance and pension obligations - cash and cash equivalents Gearing ratio = net debt /group equity Capital employed = group equity + interest-bearing debt 1 2016 adjusted for a non-operating income in the amount of € 27.81 million 2018 adjusted for a non-operating step-up profit in the amount of € 55.31 million KEY FIGURES 3 OUTPUT VOLUME BY REGION 2020 ORDER BACKLOG BY REGION 2020 Rest of Rest of world world Rest of 5 % Europe 7 % 8 % Rest of Europe 17 % CEE Germany Germany 24 % 47 % 45 % CEE 21 % Austria 16 % Austria 10 % OUTPUT VOLUME BY SEGMENT 2020 ORDER BACKLOG BY SEGMENT 2020 Other 1 % International + Special Divisions International + 18 % Special Divisions 26 % North + West North + West 51 % 50 % South + East 30 % South + East 24 % OUTPUT VOLUME ORDER BACKLOG € € CAGR +3 % CAGR +6 % 20 bn. 20 bn. 18,369.02 17,411.48 16,899.71 16,617.97 16,591.87 16,322.88 15,446.61 14,815.79 14,620.89 13,491.03 € 0 € 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 EBIT EBIT BY SEGMENT 2020 € € Mio. 800 Mio. CAGR +10 % 406.43 North + West 176.35 South + East 630.65 602.58 558.21 54.04 International + Special Divisions 448.36 424.91 EBITDA = earnings before interest, taxes, depreciation and amortisation EBIT = earnings before interest and taxes EBT = earnings before taxes -6.17 Other and reconciliation ROCE = (net income + interest on debt - interest tax shield (25 %)) / (average group equity + interest-bearing debt) Net debt = financial liabilities - non-recourse debt + provisions for severance and pension obligations - cash and cash equivalents € 0 Gearing ratio = net debt /group equity Capital employed = group equity + interest-bearing debt 2016 2017 2018 2019 2020 1 2016 adjusted for a non-operating income in the amount of € 27.81 million CAGR = Compound annual growth rate 2018 adjusted for a non-operating step-up profit in the amount of € 55.31 million CEE = Central and Eastern Europe; comprises the following countries: Bulgaria, Croatia, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Czech Republic, Hungary 4 CONTENT • KEY FIGURES .......................................................... 2 • ABOUT THIS REPORT ........................................... 13 • CEO’S REVIEW ...................................................... 14 • THE STRABAG GROUP AT A GLANCE .................... 18 • STRATEGY ............................................................. 20 • SHARES, BONDS & INVESTOR RELATIONS ......... 31 • CONSOLIDATED CORPORATE GOVERNANCE REPORT ........................................ 39 Corporate • SUPERVISORY BOARD REPORT ........................... 58 Governance 38 • Economic Responsibility • Corporate Governance • People & Workplace • Business Compliance • Environmental Responsibility • Corporate Citizenship 4 CONTENT 5 • ABOUT THIS CONSOLIDATED 62 NON-FINANCIAL REPORT ................................... 64 Consolidated • OUR STRATEGIC APPROACH ................................ 65 Non-Financial • MATERIALITY ANALYSIS ....................................... 66 Report • GENERAL EMPLOYMENT FIGURES ...................... 69 • CLIENT SATISFACTION ......................................... 74 • DIGITALISATION AND INNOVATION ..................... 76 • OCCUPATIONAL SAFETY ....................................... 80 • HEALTH PROTECTION .......................................... 83 1 • STRATEGIC HUMAN RESOURCE DEVELOPMENT ..................................................... 85 63 • FAIR COMPETITION .............................................. 92 • MATERIALS ........................................................... 98 • ENERGY AND EMISSIONS ................................... 100 • RISK AND OPPORTUNITY MANAGEMENT – PROJECT RISK MANAGEMENT ........................... 106 • HUMAN RIGHTS .................................................. 114 • SOCIETAL ENGAGEMENT ................................... 116 • INDEPENDENT ASSURANCE REPORT ON THE NON-FINANCIAL REPORTING ............... 121 • GRI CONTENT INDEX ........................................... 124 • GROUP MANAGEMENT REPORT.......................... 129 128 • CONTENT CONSOLIDATED Group Management FINANCIAL STATEMENTS ................................... 177 Report, Consolidated • CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2020 ............................................. 178 Financial Statements • NOTES TO THE CONSOLIDATED and Notes FINANCIAL STATEMENTS.................................... 184 • STATEMENT OF ALL LEGAL REPRESENTATIVES ............................................. 253 • AUDITOR’S REPORT ............................................ 254 2 • FINANCIAL CALENDAR ....................................... 259 128 • GLOSSARY ........................................................... 260 • COMPANY INFORMATION ................................... 262 • Economic Responsibility • Corporate Governance • People & Workplace 1 This section was audited by KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Linz, under a limited • Business Compliance • Environmental Responsibility • Corporate Citizenship assurance audit regime. 2 This part has been audited by the financial auditor KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Linz. 6 STRABAG is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We bring together people, materials and machinery at the right place and at the right time in order to realise even complex construction projects – on schedule, of the highest quality and at the best price. 6 ?! 7 …thanks And you? Few questions were asked more often and more sincerely in 2020 than “How are you?” In a way, the pandemic turned the world into a global community, with people sharing the same fate across the globe. At the same time, however, the way we experienced the crisis and how the situation expressed itself differed greatly from country to country. The pandemic was everywhere; but everywhere, it was different – so, too, within our corporate group. Our many colleagues and co-workers experienced this extraordinary year in different ways, while also gaining new insights and breaking new ground. Join us on a trip around the world to see how some of our employees answer the question “How was 2020 for you?” 8 find out more Bernhard Benesch Bricklaying/Formwork Apprentice, Austria “The hard lockdown in March temporarily shut down my construction site in Vienna and we were put on a short-time work regime. Construction started again two weeks later, though under strict safety measures. Workers had to wear a mask covering the nose and mouth whenever the safe distance could not be kept, containers and machines were disinfected at regular intervals, and break times were staggered. Fortunately, we never had a case of coronavirus on any of my construction sites. A nice change of pace this year was the groundbreaking ceremony for STRABAG’s new apprentice training centre. As the face for the more than 340 apprentices in Austria, a few other apprentices and I spoke to the press and with politicians about why we decided to pursue a career in construction. I also started vocational school several weeks ago and had to go straight into distance learning – a difficult thing to do when it comes to the manual tasks, though our teachers try very hard. In addition to my apprenticeship, I am also preparing for my school leaving certificate – with everything happening online at the moment. The circumstances
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