12 May 2017

Steiner Group: Pleasing annual results for 2016/2017

The Steiner Group closed the 2016/2017 financial year on 31 March 2017 with good results in a highly competitive market environment characterised by persistently strong pressure on margins. The order backlog at Steiner Group – the leading real estate developer and total/general contractor – came to CHF 1,426.3 million, exceeding the previous year's figure of CHF 1,319.0 million. In the 2016/2017 financial year, the Steiner Group signed new orders worth CHF 926.6 million (previous year: CHF 848.7 million).
The Steiner Group achieved consolidated sales of CHF 821.0 million in the year under review, based on Swiss GAAP ARR accounting standards (previous year: CHF 651.3 million). With a significant rise of 26% the Steiner Group was able to reinforce its market position in individual business areas. Its business activities produced a respectable operating result in the double-digit million range in Swiss francs. This enabled Steiner to increase EBIT (earnings before interest and taxes) by two and a half times the previous year’s figure.  Factors contributing to this pleasing result include consistent cost discipline, rigorous project management in the TC/GC area, various measures to increase efficiency and strong growth in French-speaking Switzerland. “In the past financial year we have successfully consolidated the Steiner Group’s market position and built on solid partnerships with numerous satisfied customers”, explained Ajay Sirohi, CFO of Steiner. 
The company has a solid balance sheet. The cash position was CHF 94.0 million as at 31 March 2017 (31.3.2016: 85.4 million).  Amounting to CHF 1,426.3 million, the construction contract order book was also strong. At the end of the 2016/17 financial year Steiner was also able to secure additional projects worth CHF 700.0 million.  
Outlook for the 2017-18 financial year
In the year under review, the Steiner Group revised its corporate strategy, which is being systematically implemented.  To further strengthen its market position it is aiming to increase the proportion of attractive real estate development projects in good locations. The company is adhering to its plans for sustainable growth. Steiner has a well-filled order pipeline, with exciting projects due to start in the current 2017/2018 financial year in both German and French-speaking Switzerland.

Steiner, a division of the Hindustan Construction Company, plays a key role within the HCC Group. Domiciled in Mumbai, the Group has reaffirmed its long-term strategy and thus its strong desire to continue growing in the Swiss construction sector. 
Hindustan Construction Co Ltd. (HCC Group)
Since 2010, the Steiner Group has been part of the Mumbai-based Hindustan Construction Company Ltd. (HCC), which employs more than 3,000 people. HCC is active in engineering and construction, infrastructure, real estate development, urban development and urban management. It focuses on constructing landmark projects of high complexity, where it applies its core competencies and skills to deliver world-class infrastructure. As market leader in the core sectors, HCC has constructed a remarkable number of power plants in India, a large part of the country's high-speed road network (over 3,600 km), metro systems and over 350 tunnels, as well as bridging almost every major river in the country. 
Steiner AG
Steiner AG is one of the leading project developers and general / total contractors (GC/TC) in Switzerland, offering comprehensive services in the fields of new construction, refurbishment and real estate development. The company, which was established in 1915, has constructed more than 1500 residential construction projects, 540 commercial properties, 45 hotels and 200 infrastructure facilities such as universities, schools, hospitals, retirement homes, and prisons. Steiner AG has its headquarters in Zurich and is represented by branches in Basel, Berne, Geneva, Tolochenaz, Lucerne and St. Gallen.
The expectations expressed in this media release are based on assumptions. Actual results may diverge from these expectations. This media release is available in German, French and English. The German version is authoritative.
Information for the media
Corporate Communications, Steiner AG
Tel.: +41 58 445 20 00, corpcomanti spam bot@steineranti spam bot.ch
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