Share

STRABAG SE has been listed in the Vienna Stock Exchange’s top Prime Market segment since 2007. Represented in the ATX Top Dividend price index, STRABAG SE’s shares are among the ATX Prime’s top stocks with the highest dividend yield.

STRABAG SE shares

Despite the ongoing difficult geopolitical situation, the capital market developed positively overall in the first half of 2024. The labour markets remained stable, inflation rates declined and real wages in Europe increased. These developments enabled European and international stock markets to close the first half of the year with a solid performance. In June 2024, the European Central Bank (ECB) responded by lowering its key interest rate for the first time after ten consecutive rate hikes. There are also expectations that the US Federal Reserve could lower its key interest rate in the second half of the year as well. In view of the still uncertain market situation, investors remain cautious in their assessment of future developments.

Austria’s benchmark index ATX experienced predominantly sideways movements in the first few weeks of 2024, with a positive trend starting to emerge only in mid-March. The index closed the first half of the year with a gain of 5%. In comparison, the performance of the STOXX Europe 600 Construction & Materials was more restrained. Despite positive developments from mid-February to the end of May, a trend reversal set in and the construction sector index closed almost unchanged at its starting level.

In May 2023, STRABAG SE announced capital measures to reduce the shareholding interest of Rasperia – a company controlled by the sanctioned Russian citizen Oleg Deripaska – in STRABAG from 27.8% to less than 25%. This move was designed to reduce significant disadvantages and risks for STRABAG SE. The capital measures were unanimously approved by the shareholders at the 19th Annual General Meeting in June 2023.

The measure involved a conditional distribution made from the reserves of STRABAG SE, with shareholders given the option of receiving the distribution in the form of new shares or in cash. The implementation of the ordinary non-cash capital increase was entered into the commercial register of the Regional Court of Klagenfurt on 21 March 2024. The company’s share capital increased from € 102.6 million to € 118.2 million, reducing the stake held by Rasperia from 27.8% to 24.1%. The newly issued shares will be listed on the Vienna Stock Exchange under their own ISIN AT0000A36HJ5 until further notice. For this reason, STRABAG is providing key share indicators for both the regular STRABAG SE share (ISIN AT0000STR1) and the new shares “STRABAG SE – 2024 Capital Increase” (ISIN AT0000A36HJ5).

Current developments

On 14 May 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) placed the shareholder Rasperia and Iliadis, among others, on the U.S. sanctions list. Through Council Implementing Regulation (EU) 2024/1842 published on 28 June 2024, STRABAG SE learned that the European Union had also sanctioned the shareholder Rasperia and its parent company Iliadis. These sanctions were imposed as the transaction involving the STRABAG shares would have served as a scheme to circumvent the existing sanctions regimes. The sanctions against Rasperia do not result in any changes at STRABAG SE itself or in STRABAG’s handling of the block of shares held by Rasperia, as Rasperia’s shares in STRABAG SE have been frozen ever since the imposition of sanctions against Oleg Deripaksa by the EU.

Key share indicators