Glossary
AdAstra | STRABAG’s intrapreneurship programme to generate new business ideas for industry challenges |
AFRAC | Austrian Financial Reporting Advisory Committee |
AktG | Austrian Stock Corporation Act (Aktiengesetz) |
APAG | Austrian Audit Oversight Act (Abschlussprüfer-Aufsichtsgesetz) |
ARGE | joint venture, construction consortium (Arbeitsgemeinschaft) |
ATX | Austrian Traded Index; the index of leading shares of the Vienna Stock Exchange (Wiener Börse) |
order backlog | future revenues from contracts signed to a specific date less work already accomplished |
payout ratio | ratio of dividends to earnings per share in % |
sureties | bank guarantees or surety bonds |
construction value chain | individual steps and actions required to create a product or deliver a service in the construction industry |
BCMS | Business Compliance Management System |
WHM | workplace health management |
BIM | Building Information Modelling |
BIO | protection and restoration of biodiversity and ecosystems |
GDP | gross domestic product |
Bestand Beyond | STRABAG brand specialising in construction work on existing buildings, including refurbishment, modernisation, conversion and expansion |
BNB | Assessment System for Sustainable Building (Bewertungssystem Nachhaltiges Bauen) |
BREEAM | Building Research Establishment Environmental Assessment Methodology; a rating system for environmental and social-cultural aspects of sustainable building |
BRVZ | Bau- Rechen- und Verwaltungszentrum = STRABAG entity providing intercompany services in IT and administration |
book value per share | ratio of the book value of equity divided by the number of outstanding shares |
BWB | Austrian Federal Competition Authority (Bundeswettbewerbsbehörde) |
CAD | computer-aided design |
CAGR | compound annual growth rate |
CapEx | capital expenditure, investments; acquisition of financial assets + acquisition of intangible assets as well as property, plant and equipment + changes to the scope of consolidation |
capital employed | total of group equity + interest-bearing debt |
cash conversion | EBITDA/cash flow from operating activities |
cash flow | cash and cash equivalents being received and spent |
CCA | climate change adaptation |
CCM | climate change mitigation |
CDP | Carbon Disclosure Project, a global framework for investors, companies, cities, states and regions to measure and disclose their environmental impact |
CE | circular economy |
CGU | cash-generating units |
CH4 | methane |
CML | Contract Management & Legal Services |
CO2 | carbon dioxide (greenhouse gas) |
CO2e | CO2 equivalent; unit of measurement used to compare the global warming potential of different greenhouse gases |
carbon footprint | measure of carbon emissions caused by an activity |
Code of Conduct | guidelines which reflect the company’s policy; compliance is mandatory for all employees, directors and officers |
compliance | abidance with applicable laws and relevant regulations |
corporate governance | a code of conduct for publicly listed companies; corporate governance comprises all guidelines which maximise transparency and control in order to avoid conflicts of interest |
COSO | Committee of Sponsoring Organizations of the Treadway Commission |
Covid-19 | Coronavirus Disease 2019 |
CPS | common project standards |
CSRD | Corporate Sustainability Reporting Directive |
DCF method | discounted cash flow method |
DGNB | German Society for Sustainable Construction (Deutsche Gesellschaft für Nachhaltiges Bauen e.V.) |
digital maturity | |
directors’ dealings | transactions with company securities by company directors or officers |
dividend yield | ratio of dividend to price per share at year’s end in % |
DNSH criteria | Do No Significant Harm criteria |
due diligence | investigation and analysis carried out with reasonable care |
EBIT | earnings before interest and taxes |
EBITDA | earnings before interest, taxes, depreciation and amortisation |
EBITDA margin | ratio of EBITDA to revenue in % |
EBIT margin | ratio of EBIT to revenue in % |
EC-19 | 19 Euroconstruct countries |
EcoVadis | ratings agency with a special focus on ESG and sustainable supplier management |
EDI | equality, diversity and inclusion |
EECFA | Eastern European Construction Forecasting Association |
EFKON | STRABAG subsidiary, provider and operator of intelligent transportation, multi-lane free flow and toll enforcement systems |
equity ratio | ratio of book value of equity to balance sheet total |
EMAS | Eco-Management and Audit Scheme |
equity method | method of consolidation of shares in associated companies and joint ventures; mostly companies in which STRABAG holds a stake between 20% and 50% |
earnings per share | net income after minorities divided by the weighted average number of shares |
ERP | enterprise resource planning |
ESG | environmental, social and governance |
ESRS | European Sustainability Reporting Standards |
ETS | EU Emissions Trading System; market-based instrument for reducing harmful greenhouse gas emissions |
EU Taxonomy | European Union classification system that defines which economic activities are environmentally sustainable |
ECB | European Central Bank |
R&D | research and development |
FAQ | frequently asked questions |
FTE | full-time equivalents |
GD | generative design |
gearing ratio | net debt divided by total group equity |
GIS | geographic information system |
GRI | Global Reporting Initiative |
HVAC | heating, ventilation and air conditioning |
HRD | human resource development |
HSW | health, safety and wellbeing |
ILO | International Labour Organization; United Nations agency devoted to promoting social justice as well as human and labour rights |
IAE | International Energy Agency |
IAS | International Accounting Standards |
IASB | International Accounting Standards Board, issues the IFRS |
IDW | German Institute of Public Auditors (Institut der Wirtschaftsprüfer) |
IFRIC | International Financial Reporting Interpretations Committee |
IFRS | International Financial Reporting Standards; accounting standards and interpretations issued by the IASB |
ICS | internal control system |
ILO core labour standards | a set of international conventions on human rights and labour rights |
IoT | internet of things; describes a network of linked devices that can connect and exchange data |
IQM | integrated quality management |
ISIN | International Securities Identification Number |
ISO | International Organization for Standardization |
ISO 14001 | internationally recognised standard designed to help organisations establish an environmental management system |
ISO 31000 | internationally recognised standard designed to help organisations establish a risk management system |
ISO 37001 | internationally recognised standard designed to help organisations implement and maintain an anti-bribery management system |
ISO 37301 | internationally recognised standard designed to help organisations implement and maintain a compliance management system |
ISO 45001 | internationally recognised standard designed to help organisations maintain an occupational health and safety management system |
ISO 50001 | internationally recognised standard designed to help organisations establish an energy management system |
P/E ratio | price-earnings ratio |
AI | artificial intelligence |
KRL | Group Directive (Konzernrichtlinie) |
KPI | key performance indicator |
kWp | kilowatt peak |
LEED | Leadership in Energy and Environmental Design |
output volume | a metric commonly used in the construction industry; at STRABAG SE, output or output volume comprises the value of goods and services provided, including the proportionate output from joint ventures and associates |
LkSG | German Supply Chain Duty of Care Act (Lieferkettensorgfaltspflichtengesetz) |
CEE | Central and Eastern Europe |
MOLENO® | STRABAG brand specialising in modular construction with timber hybrid systems |
MSCI | Morgan Stanley Capital International |
M&A | mergers and acquisitions |
NaDiVeg | Sustainability and Diversity Improvement Act (Nachhaltigkeits- und Diversitätsverbesserungsgesetz) |
net debt | financial liabilities - non-recourse debt + severance and pension provisions - cash and cash equivalents; called net cash in case of negative result |
NFI | non-financial information |
NOx | nitrogen oxides |
N2O | nitrous oxide, commonly known as laughing gas |
ÖCGK | Austrian Corporate Governance Code (Österreichischer Corporate Governance Kodex) |
ODS | ozone-depleting substances |
OECD | Organisation for Economic Co-operation and Development |
ÖGNI | Austrian Sustainable Building Council (Österreichische Gesellschaft für Nachhaltige Immobilienwirtschaft) |
OpEx | operating expenses |
P&C | People & Culture |
PFS | STRABAG Property and Facility Services |
PMH | Project Management Hub; digital tool to support construction site management |
PPC | pollution prevention and control |
PPP | public-private partnership; project which is funded and operated through a partnership of private investors and public-sector institutions |
pro rata temporis | at a rate proportional to the time allotted |
P&C DEV | People & Culture Development |
risk management | an approach to recognise potential risks to the company and develop strategies to manage these risks |
RMS | risk management system |
ROCE | return on capital employed; (net income + interest on debt - interest tax shield (25 %))/(average group equity + interest-bearing debt) |
SAM | Smart Asset Manager; planning and billing software |
SBTi | Science Based Targets initiative; global initiative that develops standards, tools and guidance to help companies set science-based climate targets to reduce their greenhouse gas emissions in order to limit global warming to 1.5 °C in line with the goal of the Paris Agreement |
SCC | Safety Certificate Contractors; an international standard for safety, health and environmental management |
SCMS | Social Compliance Management System |
SCS | Steering Committee Sustainability |
SDG | Sustainable Development Goals |
SE | Societas Europaea = a public company in the European Union and the European Economic Area registered in accordance with EU corporate law |
HSE | Health, Safety, Environment |
SID | STRABAG Innovation & Digitalisation |
SOx | sulphur oxides |
SPS | Strategic Procurement Solution; purchasing platform |
SRE | STRABAG Real Estate |
STF hazards | slips, trips and falls |
SSO | Smart Site One; digital software for road construction |
Sustainalytics | ESG risk ratings |
S&P | Standard & Poor’s |
S&P rating | credit rating awarded by Standard & Poor’s to reflect a company’s ability to repay its debts on time, given on a scale from AAA (highest) to D (default) |
task force | a unit temporarily established to work on a single defined task or activity |
GHG | greenhouse gases |
TPA | STRABAG entity for quality assurance and innovation |
UGB | Austrian Commercial Code (Unternehmensgesetzbuch) |
UN | United Nations |
UNGC | United Nations Global Compact |
UNFCCC | United Nations Framework Convention on Climate Change |
VR | virtual reality; computer-generated reality that a user can experience with the aid of special “glasses” (VR headset) |
WB2C | “well below 2 °C”; goal of the Paris Agreement to limit the global temperature rise due to climate change to a maximum of 2 °C |
WBI | Vienna Stock Exchange Share Index, made up of all companies listed on the Vienna Stock Exchange |
WELL | building standard of the International WELL Building Institute |
WTR | sustainable use and protection of water and marine resources |
WHO | World Health Organization |
ZT | Zentrale Technik; the STRABAG Group’s technical competence centre |