Glossary
AdAstra | STRABAG’s intrapreneurship programme to generate new business ideas for industry challenges |
AFRAC | Austrian Financial Reporting Advisory Committee |
AI | artificial intelligence |
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) |
BCMS | Business Compliance Management System |
Bestand Beyond | STRABAG brand specialising in construction work on existing buildings, including refurbishment, modernisation, conversion and expansion |
BIM | Building Information Modelling |
BMTI | Machinery and equipment service provider for the STRABAG Group |
book value per share | ratio of the book value of equity divided by the number of outstanding shares |
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 |
Building Solutions | New name for STRABAG Property and Facility Services |
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 |
carbon footprint | measure of carbon emissions caused by an activity |
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 |
CEE | Central and Eastern Europe (Poland, Czech Republic, Hungary, Slovakia, Romania, Croatia, Slovenia, Serbia, Bulgaria) |
CGU | cash-generating units |
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 |
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 |
construction value chain | individual steps and actions required to create a product or deliver a service in the construction industry |
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 |
CRO | Corporate Responsibility Office |
CSRD | Corporate Sustainability Reporting Directive |
DCF method | discounted cash flow method |
DGNB | German Society for Sustainable Construction (Deutsche Gesellschaft für Nachhaltiges Bauen e.V.) |
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 % |
DMA | double materiality assessment |
DNSH criteria | Do No Significant Harm criteria |
DPC | Direct Procurement for Customers |
due diligence | investigation and analysis carried out with reasonable care |
earnings per share | net income after minorities divided by the weighted average number of shares |
EBIT | earnings before interest and taxes |
EBIT margin | ratio of EBIT to revenue in % |
EBITDA | earnings before interest, taxes, depreciation and amortisation |
EBITDA margin | ratio of EBITDA to revenue in % |
EC-19 | 19 Euroconstruct countries |
ECB | European Central Bank |
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 |
EIA | environmental impact assessment |
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% |
equity ratio | ratio of book value of equity to balance sheet total |
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 |
FAQ | frequently asked questions |
FED | US Federal Reserve |
FSC | Forest Stewardship Council |
FTE | full-time equivalents |
GDP | gross domestic product |
gearing ratio | net debt divided by total group equity |
GHG | Greenhouse Gas |
GIS | geographic information system |
HSE | Health, Safety, Environment |
HSW | health, safety and wellbeing |
HVO | Hydrotreated Vegetable Oil |
IAS | International Accounting Standards |
IASB | International Accounting Standards Board, issues the IFRS |
IBAT | Integrated Biodiversity Assessment Tool |
ICS | internal control system |
IDW | German Institute of Public Auditors (Institut der Wirtschaftsprüfer) |
IEA | International Energy Agency |
IFRIC | International Financial Reporting Interpretations Committee |
IFRS | International Financial Reporting Standards; accounting standards and interpretations issued by the IASB |
ILO | International Labour Organization; United Nations agency devoted to promoting social justice as well as human and labour rights |
IoT | internet of things; describes a network of linked devices that can connect and exchange data |
IRO | impact, risk & opportunity |
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 |
KPI | key performance indicator |
KRL | Group Directive (Konzernrichtlinie) |
LEED | Leadership in Energy and Environmental Design |
LkSG | German Supply Chain Duty of Care Act (Lieferkettensorgfaltspflichtengesetz) |
M&A | mergers and acquisitions |
MOLENO® | STRABAG brand specialising in modular construction with timber hybrid systems |
MSCI | Morgan Stanley Capital International |
MWh | megawatt-hour |
NaDiVeg | Sustainability and Diversity Improvement Act (Nachhaltigkeits- und Diversitätsverbesserungsgesetz) |
NaWaRo | Nachwachsende Rohstoffe (Renewable raw materials) |
net debt | financial obligations - non-recourse liabilities + severance and pension provisions - cash and cash equivalents; called net cash in case of negative result |
NFI | non-financial information |
NFRD | Non-Financial Reporting Directive |
ÖCGK | Austrian Corporate Governance Code (Österreichischer Corporate Governance Kodex) |
OECD | Organisation for Economic Co-operation and Development |
ÖGNI | Austrian Sustainable Building Council (Österreichische Gesellschaft für Nachhaltige Immobilienwirtschaft) |
OpEx | operating expenses |
order backlog | future revenues from contracts signed to a specific date less work already accomplished |
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 |
P&C | People & Culture |
P&C DEV | People & Culture Development |
P/E ratio | price-earnings ratio |
payout ratio | ratio of dividends to earnings per share in % |
PEFC | programme for the Endorsement of Forest Certification Schemes |
PFS | STRABAG Property and Facility Services |
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 |
R&D | research and 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) |
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) |
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 |
SID | STRABAG Innovation & Digitalisation |
SRE | STRABAG Real Estate |
SSO | Smart Site One; digital software for road construction |
sureties | bank guarantees or surety bonds |
Sustainalytics | ESG risk ratings |
task force | a unit temporarily established to work on a single defined task or activity |
TETRIQX | Serial construction system with a high degree of prefabrication for residential construction |
TPA | STRABAG entity for quality assurance and innovation |
UGB | Austrian Commercial Code (Unternehmensgesetzbuch) |
UN | United Nations |
UNFCCC | United Nations Framework Convention on Climate Change |
UNGC | United Nations Global Compact |
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 |
WHO | World Health Organization |
WTE | WTE Wassertechnik GmbH |
WTR | sustainable use and protection of water and marine resources |
ZT | Zentrale Technik; the STRABAG Group’s technical competence centre |