Strabag Se · VIE:STR
Strabag — Investor Presentation (November 2025)
56 slides from Strabag's investor presentation, November 2025
Slide 1: A diversified leader in construction, innovation and financial strength
A diversified leader in construction, innovation and financial strength. Investor Presentation | November 2025
Slide 2: Disclaimer
Disclaimer This presentation is made by STRABAG SE (the “Company”) solely for use at should not be interpreted as having been adopted or endorsed by the Company investor meetings and is furnished to you solely for your information. as being accurate. This presentation contains forward-looking statem
Slide 3: STRABAG is the strongest force for building a better future
STRABAG is the How our vision becomes reality strongest force for By advancing progress along the entire value chain. We create value for people and the environment by building a better taking an end-to-end view of construction over the entire life future. cycle. We are actively shaping the future o
Slide 4: The STRABAG value proposition
The STRABAG value proposition diversifiziert Leading. Diversified. Strong market Resilience through positions through 4-fold critical size diversification Financially Innovative. strong. Innovation and Stability through sustainability through financial strength & technology leadership effective risk
Slide 5: Leading.
01 Leading. STRABAG is the largest construction group in CEE, combining local expertise with global reach. 5
Slide 6: A leader in construction, innovation & financial strength
GROUP PROFILE A leader in construction, innovation & financial strength Fully vertically integrated business model 19.2 25.4 6.1% 34.1% Output volume (€ bn) Order backlog (€ bn) EBIT margin Equity ratio Construction materials BBB+, stable ~ 2,400 ~ 86,000 > 50 production S&P rating Employees in inno
Slide 7: We cover the entire value chain in construction
GROUP ACTIVITIES We cover the entire value chain in construction Core business construction Construction materials production A network of 550 production sites Planning & design > 1,000 engineers in a Construction Development centralised design hub > 650 completed real estate developments Reconstruc
Slide 8: We combine local expertise with global reach
GROUP PRESENCE We combine local expertise with global reach Europe Leading market positions in Germany, Austria, CEE Americas Canada, Chile, Colombia Australia & Middle East Middle East: UAE, Oman, Qatar local presence project business 8
Slide 9: The market environment improves
GROUP PRESENCE The market environment improves 2024 2025 -4.6% +7.3% Poland Poland -0.4% 0.0% Germany Germany -1.3% -1.4% Czech Republic Czech Republic -8.6% +3.4% Slovakia Slovakia -2.0% 1.3% Austria -4.1% Austria +1.6% Hungary Hungary +3.1% -1.9% Romania Romania +3.4% +3.4% Croatia Croatia 1) Mark
Slide 10: We are active in promising markets
GROUP PRESENCE #4 We are active in promising markets |2 1 Railway & transportation EU infrastructure investments Cohesion fund 2 2021-2027 German special fund € 107 bn Germany | 2025-2029 € 76 bn 1 Poland for infrastructure € 42 bn Poland | 2025-2032 328 € 35 bn Romania 12 yrs 3 Austria | 2025-2030
Slide 11: Current large-scale projects in progress
GROUP PROJECTS Current large-scale projects in progress Order backlog As % of total Country Project in € mn order backlog United Kingdom HS2 high-speed rail line 961 3.8 Germany Bayerische Versorgungskammer 543 2.1 Germany U5 East, Hamburg 521 2.1 Germany US hospital, Weilerbach 520 2.1 Germany Lock
Slide 12: Order intake in 2024 reflects strategic priorities
GROUP PROJECTS Order intake in 2024 reflects strategic priorities N+W 1 N+W 2 S+E 3 Civil engineering works – German energy infrastructure 1 projects SuedOstLink and SuedLink Shipping lock replacement > € 1.1 bn 2 Kriegenbrunn in total ~ € 450 mn ~ € 297 mn Reconstruction and extension Germany Germa
Slide 13: Key strategic topics for a sustainable 6% EBIT margin by 2030
GROUP STRATEGY Key strategic topics for a sustainable 6% EBIT margin by 2030 Employee focus Circularity Technology leadership promotes our most important asset: helps us fight environmental pollution helps us to constantly become more people. and the shortage of raw materials. efficient and effectiv
Slide 14: Well on track to achieve the goals of Strategy 2030
GROUP STRATEGY Well on track to achieve the goals of Strategy 2030 2022 2030 (base year) 2024 (target year) Output volume (€ bn) 17.7 19.2 CAGR ~ 6% EBIT margin 4.2% 6.1% 6% Equity ratio 31.7% 34.1% ≥ 25% Dividend payout ratio 43% 34%1) 30–50% WORK ON PROGRESS S&P Rating BBB BBB+ Maintain investment
Slide 15: Diversified.
02 Diversified. STRABAG is diversified across four areas. This allows us to spread our risk and balance out cyclical and seasonal effects. © Dalmacija News 15
Slide 16: Group resilience through 4-fold diversification
GROUP DIVERSIFICATION Group resilience through 4-fold diversification Diversified by STRABAG Segment Region Project size Client delivers complex 7 2 5 9 8 projects of nearly 8 7 36 39 15 33 all sizes and 10 € 19.2 bn 24 € 19.2 bn 49 € 25.4 bn € 19.2 bn 67 segments in over 24 31 15 13 50 countries Ou
Slide 17: Balanced contributions across operating segments
OPERATING SEGMENTS Balanced contributions across operating segments Output volume Order backlog by segment | % by segment | % 17 22 43 € 19.2 bn € 25.4 bn 48 39 30 North + West South + East International + Special Divisions 2024 FY figures | 4th, non-operating segment “Others”, output volume < 1%, n
Slide 18: North + West: Germany, Switzerland and others
OPERATING SEGMENTS North + West: Germany, Switzerland and others Helaba large-scale Segment output by region project in Germany KEY SEGMENT CHARACTERISTICS by ZÜBLIN • North + West is the Group’s largest segment • Here we report our construction activities in Germany, Switzerland, the Benelux 2% Ben
Slide 19: South + East: Austria and CEE region
OPERATING SEGMENTS South + East: Austria and CEE region Renovation of Czech Segment output by region Masaryk Railway KEY SEGMENT CHARACTERISTICS Station by STRABAG • In South + East we report our construction Croatia 3% activities in Austria and the CEE region • CEE includes Poland, the Czech Republ
Slide 20: International + Special Divisions: Pooling specialised expertise
OPERATING SEGMENTS International + Special Divisions: Pooling specialised expertise STRABAG part of JV Segment output by region delivering HS2 high- KEY SEGMENT CHARACTERISTICS speed rail line in UK • The segment includes our construction Poland 3% activities in the United Kingdom and outside of Eur
Slide 21: From raw materials to operations – all from one source
VERTICAL INTEGRATION From raw materials to End-to-end integration for maximum flexibility operations – all from We are pursuing a flexible business model as a way to react quickly to one source. changes in the market environment. We consider this principle to be a key competitive advantage. Our flex
Slide 22: Own construction materials network
> € 1,300 mn > 4,000 550 Output volume Employees (FTE) STRABAG facilities1) VERTICAL INTEGRATION Own construction materials network Our construction materials network secures our supply of resources from within the Group while reducing our dependence on Self-supply of key materials Competitive advan
Slide 23: Real estate project development
> € 500 mn > 250 8 18 > 650 Output volume1) Employees (FTE) Country presence Locations Projects delivered VERTICAL INTEGRATION Real estate project development STRABAG Real Estate (SRE) has been planning, constructing, and selling properties for around 60 years and has also been a service Focus on se
Slide 24: Public-Private Partnerships (PPP)
€ 546 mn € 10.3 bn 41 12% 6%–13% Equity invested Total project Projects ROE minimum WACC range in PPP volume target VERTICAL INTEGRATION Public-Private Partnerships (PPP) We have been working successfully with operator models for more than three decades. Our strong financial position allows us Focus
Slide 25: Flagship PPP projects
VERTICAL INTEGRATION Flagship PPP projects Total project STRABAG Concession Country Project Status volume | € mn share | % until Transportation infrastructures Poland A2 Section II 1,543 10 2037 Operation Hungary M5 Motorway 1,292 100 2031 Operation Hungary M6 Motorway 966 50 2037 Operation Colombia
Slide 26: STRABAG Property and Facility Services (PFS)
> € 1,000 mn > 9,000 6 Output volume Employees (FTE) Country presence VERTICAL INTEGRATION STRABAG Property and Facility Services (PFS) PFS is an integrated building solutions provider and one-stop- Activities Output contribution by region | % Competitive advantage shop for decarbonised buildings –
Slide 27: Innovative.
03 Innovative. STRABAG innovates construction through technology, targeting climate neutrality along the value chain by 2040. © HS2 27
Slide 28: Innovation is part of our DNA
INNOVATION Innovation is part of our DNA Standardisation Digital processes Automation STRABAG stands out by combining innovation, in-house capabilities and digital scale – turning concepts into Offsite production BIM 5D ® construction reality. Selected products by STRABAG Serial construction STRABAG
Slide 29: We have built a complete technology ecosystem
TECHNOLOGY LEADERSHIP We have built a complete technology ecosystem Digital > 2,400 Production Data Science Hub Employees in innovation & digitalisation BIM 5D ® Robotics & IoT TECHNOLOGY ECOSYSTEM > 250 Innovation projects GIS & Generative Design STRABAG.Maps > 400 Sustainability projects STRABAG s
Slide 30: BMTI – STRABAG's machinery and equipment fleet
> € 4.51) bn Equipment fleet > 25,000 Vehicles Selected innovation projects BMTI BMTI at a glance STRABAG BMTI is the machinery and equipment service provider for the STRABAG Group. It oversees the Group-wide operational management of mobile assets (construction machinery, vehicles and mechanical eq
Slide 31: SID – STRABAG's catalyst for innovation and digitalisation
> 400 Employees (FTE) 11 Countries Selected innovation projects SID 22 Locations SID at a glance SID (STRABAG Innovation & Digitalisation) is STRABAG's dedicated central unit for driving innovation, digital transformation and sustain- ability across the Group. Its mission is to strengthen and mainta
Slide 32: TPA – one of the largest private lab networks
> 950 Employees (FTE) 16 Countries Selected innovation projects TPA 135 Locations TPA at a glance TPA is STRABAG’s centre of excellence for construction materials and technology, specialising in asphalt, concrete, soil, geotechnics, environmental technology and engineering. As one of Europe’s larges
Slide 33: ZT – STRABAG's internal design and engineering hub
> 1,000 Engineers 9 Countries Selected innovation projects ZT 32 Locations ZT at a glance Zentrale Technik (ZT) is STRABAG’s central hub of technical expertise, supporting projects along the entire construction chain throughout all project phases. ZT plays a key role in driving STRABAG’s technologic
Slide 34: Construction can also be done sustainably
WORK ON PROGRESS Construction can also Innovation & sustainability through technology leadership be done sustainably. Through the use of technology, STRABAG is shaping the future of That’s the way we do construction. The focus is on standardisation, digital processes things. and automation. This not
Slide 35: WORK ON PROGRESS means continuous development
SUSTAINABILITY WORK ON PROGRESS means continuous development WORK ON Sustainability Strategy PROGRESS 2025 2021 2022 2023 2025 Sustainability Strategy Group Strategy 2021 2030 People. Planet. Progress. 35
Slide 36: Our focus areas in sustainability
SUSTAINABILITY STRATEGY Our focus areas in sustainability 36
Slide 37: Our contribution to the environment
SUSTAINABILITY STRATEGY Our contribution to the environment Strategic focus topics Decarbonisation1) Circular economy Biodiversity & ecosystems Strategic goals On the basis of science-based targets, we are We are putting circular economy principles into We protect biodiversity and ecosystems by: red
Slide 38: We focus on science-based climate targets
SUSTAINABILITY STRATEGY We focus on science-based climate targets STRABAG commits to SBTi STRABAG is pursuing a science-based reduction path for its CO2e emissions Commitment to the 1.5°C target of the Paris Agreement Plan reviewed and aligned with the requirements of the Science Based Targets
Slide 39: Our commitment to social responsibility
SUSTAINABILITY STRATEGY Our commitment to social responsibility Strategic focus topics Human rights along Our employees the value chain Added value for society Strategic goals We promote the wellbeing of our employees We protect human rights through: We create added value for society by: through: •
Slide 40: Our engagement in governance
SUSTAINABILITY STRATEGY Our engagement in governance Strategic focus topics Fair competition Nachhaltige Unternehmensführung Sustainable Mehrwert für die Gesellschaft corporate governance Strategic goals We avoid corruption and anti-competitive behaviour by: We have established clear structures and
Slide 41: ESG commitment confirmed by solid ratings
ESG RATINGS ESG commitment confirmed by solid ratings Our ESG ratings & ESG commitment Positive results in 2024 ESG ratings CDP reconfirmation of “B” score (Climate Change) Sustainalytics 29.2 (medium risk) (last evaluation: Nov. 2024) EcoVadis 68/100 points 41
Slide 42: Financially strong.
04 Financially strong. STRABAG’s financial strength enables agile business opportunities, with a strategic focus on risk management. © STRABAG / Marko Kovic 42
Slide 43: Output and order backlog at record highs
FINANCIAL PERFORMANCE Output and order backlog at record highs Output volume | € mn Proven financial track record Business consolidation from 2013 to 2023 17,735 19,139 19,239 after a decade of strong inorganic growth 16,323 16,618 16,129 14,621 15,447 14,290 13,491 Top-line growth not a strateg
Slide 44: Profitable growth with consistent dividends
FINANCIAL PERFORMANCE Profitable growth with consistent dividends EBIT | € mn and EBIT margin | % Proven financial track record 1,062 896 Strong track record of sustainable earnings 880 growth; EBIT margin more than doubled 706 (2015–2024) 603 631 558 425 448 Effective risk management as key dri
Slide 45: Financial strength as a key differentiator
FINANCIAL PERFORMANCE Financial strength as a key differentiator Net debt (+) / Net cash (-) | € mn Proven financial track record Robust balance sheet as a key enabler of business operations > 30% equity ratio and net cash position -449 maintained throughout the past decade -1,094 -1,335 -1,218
Slide 46: STRABAG on the capital markets
FINANCIAL PERFORMANCE STRABAG on the capital markets STRABAG share price development Shareholder structure October 2025 | % 250% STRABAG ATX STOXX 2.4 225% 16.2 UNIQA/Raiffeisen1) 200% 30.4 Haselsteiner family2) +90% 175% Market cap MKAO “Rasperia 150% € 8.6 bn Trading Limited” 3) 125% 24.1 Free flo
Slide 47: Proven record of financial solidity
FINANCIAL PERFORMANCE Proven record of financial solidity Output Net cash EBIT Equity ratio Dividend ROCE volume position +6% +14% € 2.2 bn 33% € 1.6 bn +93% CAGR CAGR Ø Ø Paid out1) Δ 2020–2024 2020–2024 2020–2024 2020–2024 2020–2024 2020–2024 € mn € mn € mn % € per share % 2020 15,447 2020 631 202
Slide 48: Discover more about STRABAG
Discover more about STRABAG Download the latest View the latest Read the latest results presentation online report IR news
Slide 49: Annex
STRABAG WORK ON PROGRESS
Slide 50: How the STRABAG Group is organised
ANNEX How the STRABAG Group is organised Holding Two strong International + brands – Operating North + West South + East Special Divisions building trust, segments shaping the Corporate future Central Corporate Communications Corporate Development Responsibility Office Health, Safety and Wellbeing I
Slide 51: Organisational structure shaped by central units
ANNEX Organisational structure shaped by central units CEO Operating Segments Central Divisions & Central Staff Divisions Board Member Divisions Sub-divisions Chief Executive Officer Chief Financial Officer Subdivision Manager Division Manager Subdivision Manager (CEO) (CFO) BMTI1) BRVZ CML Construc
Slide 52: Experienced Leadership at STRABAG
ANNEX Experienced Leadership at STRABAG Dipl.-Ing. Stefan Kratochwill Mag. Christian Harder Dipl.-Ing. (FH) Jörg Rösler Dipl.-Ing. Siegfried Wanker Dipl.-Ing. (FH) Péter Glöckler CEO CFO Member of the Management Board Member of the Management Board Member of the Management Board Joined STRABAG in 20
Slide 53: The STRABAG story began in 1835
ANNEX The STRABAG story began in 1835 STRABAG Group traces its roots to Anton Lerch- Early on, STRABAG focused on After the Nazi takeover, STRABAG continued In 1953, STRABAG built the Wadi Thartar dam baumer’s family business (1835) & Heinrich Reif- technical achievements, including the construction
Slide 54: Leading market positions
ANNEX Germany Hungary Leading market positions STRABAG Vinci 9,045 4,470 Mészáros Market 1,190 1,065 Zech Group 4,384 STRABAG 808 Goldbeck 4,140 Duna Aszfalt 649 Max Bögl 2,556 WHB 609 Austria Slovakia 2 STRABAG 3,070 STRABAG 410 Porr 2,964 Doprastav 261 1 Poland Swietelsky 2,019 Eurovia SK 175 3 Ha
Slide 55: Output volume by country
ANNEX Output volume by country € mn 2020 2021 2022 2023 2024 CAGR1) | in % Germany 7,323 7,462 8,347 9,045 9,361 6 Austria 2,460 2,694 2,935 3,070 2,856 4 Poland 1,183 1,152 1,126 1,329 1,697 9 Czech Republic 826 948 1,093 999 1,017 5 United Kingdom 226 390 578 672 698 33 Hungary 671 652 688 808 620
Slide 56: Market share data 2024
ANNEX Market share data 2024 Country Construction output | € mn STRABAG output | € mn Market share | in % Germany 479,817 9,361 2.0 Austria 49,912 2,856 5.7 Poland 71,687 1,697 2.4 Czech Republic 39,617 1,017 2.6 Hungary 22,015 620 2.8 Romania 36,786 467 1.3 Slovakia 10,228 305 3.0 Switzerland 73,12