The Steiner Group is reporting an encouraging result for the first six months of the 2015-16 financial year from 1 April to 30 September 2015 and succeeded in signing and securing new projects worth CHF 1,291 million during the past 12 months.
In the first six months of the current financial year (2015-16), the Steiner Group had an order intake of CHF 629 million. Steiner continued to be profitable in the first half (1.4.-30.9.2015) and generated revenue of CHF 347.3 million despite persistently challenging market conditions. The upcoming SAP rollout and efficiency enhancements resulted in additional costs, which had an impact on the operating result in the short term.
The Real Estate Development division has over CHF 2.5 billion development projects in hand and will continue to make a significant contribution to a positive business performance. The total/general contracting business (TC/GC) unit had to cope with project risks that were sometimes higher than originally envisaged. This is reflected in the half-yearly results. Existing processes have been modified and new ones introduced so as to take account of this in future. The Swiss Federal Supreme Court's decision in favour of awarding the order for the construction of the Riviera Chablais hospital to Steiner is a positive development. Order intake in the renovation segment was particularly strong in the period under review. Orders for the refurbishment of public-sector buildings in all regions contributed to this result.
The Steiner Group has a solid balance sheet. The cash position was CHF 103.9 million as at 30 September 2015.
Outlook for the 2015-16 financial year
The Steiner Group will continue to implement its sustainable growth strategy and systematically optimize business processes. This includes the rollout of SAP at the end of 2015. On a like-for-like basis, the company expects a profitable result for 2015-16 in line with that of the previous year.
The Steiner Group, since 2010 a division of the Hindustan Construction Company based in Mumbai, India, plays a key role within the HCC Group. Domiciled in Mumbai, this group pursues a long-term strategy and wants to continue strengthening Steiner's market position in the Swiss construction sector and to grow with Steiner India in the Indian construction industry.
Steiner AG, one of the leading project developers, total and general contractors (TC/GC) in Switzerland, offers comprehensive services in the fields of new constructions, refurbishment and Real Estate Development. The company, which was established in 1915, has constructed more than 1200 residential construction projects, 540 commercial properties, 45 hotels and 150 infrastructure facilities such as universities, schools, hospitals, prisons and retirement homes. 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
Head HR & Corporate Communications
Tel.: +41 (0)58 445 20 00
claude.sulser @steiner .ch
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