The Steiner Group is reporting an encouraging result for the first half of the 2016–17 financial year from 1 April to 30 September 2016: in the last six months, it succeeded in signing and securing new orders worth CHF 678 million.
In the first six months of the current (2016–17) financial year, the Steiner Group signed contracts for orders totalling CHF 678.4 million. The Group’s orders in hand thus total CHF 1.6 billion. Steiner performed well in the first half (1 April – 30 September 2016), generating sales of CHF 406.7 million and an operating profit of CHF 8.0 million despite persistently challenging conditions. The planned SAP rollout together with process optimization resulted in additional costs, which impacted on operating profit.
With projects worth over CHF 2.2 billion, the Real Estate Development division has a stable volume of development work in hand and will continue to make a significant contribution to the Group’s positive business performance. The half-year result reflects a number of postponements that have been affecting residential property sales throughout Switzerland. In both French- and German-speaking Switzerland, order intake in the total/general contractor (TC/GC) business was better than expected. Sales performance in this business line was similarly good. The Steiner Group has a solid balance sheet and its cash position amounted to CHF 95.1 million as at 30 September 2016.
Outlook for the 2016–17 financial year
In line with its strategy, the Steiner Group is on track for qualitative growth and has performed well so far this financial year. “We are confident that we will achieve our sales and earnings goals”, says CFO Ajay Sirohi. “Moreover, we expect to be able to double our operating result compared with 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 listed 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 construction, 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.
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