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28 May 2018

Steiner Group closes 2017–18 financial year with gratifying result

 
The Steiner Group performed well in the 2017–18 financial year (1 April 2017 to 31 March 2018), acquiring new orders worth CHF 890.3 million in a competitive market environment. The leading real estate development company and total/general contractor currently has an order backlog of CHF 1,371.4 million. 
 
In the face of a highly competitive market environment, the Steiner Group generated consolidated sales of CHF 794 million (previous year: CHF 821 million) based on Swiss GAAP ARR accounting standards in the 2017–18 financial year. Although the Group fell slightly short of the previous year’s sales figure, it succeeded in improving its EBIT margin during the past financial year. “Seasonal effects resulting from the severe winter and subsequent alterations by customers caused delays to certain projects and prevented us from fully achieving our sales target,” explained Ajay Sirohi, CFO of Steiner AG. “We are very pleased that Steiner was able to expand its development business during the past financial year and achieve strong growth in French-speaking Switzerland in particular. With projects worth approximately CHF 3.2 billion, the Real Estate Development division has a record volume of development work in hand and will continue to make a significant contribution to the Group’s positive business performance. We are also delighted that the Steiner Investment Foundation was able to generate cash inflows in excess of CHF 175 million from institutional investors during the first year following its launch.” 
 
Outlook for the 2018–19 financial year
The Steiner Group intends to further develop its sustainable growth strategy, consolidate its market position and systematically optimise its business processes. SAP will be fully rolled out by the end of 2018 and mark a significant step in Steiner’s efforts to remain innovative and successful in a tough market where cost-efficiency has become a crucial competitive advantage. Furthermore, the Steiner Group is closely engaged with the process of digitalisation that is taking place in the construction and real estate sector so that it can be a leader in this field. Ajay Sirohi: “With our healthy order pipeline and an order backlog worth more than CHF 1.3 billion, we expect to match the previous year’s sales volume during the next few months and achieve our ambitious goals for the 2018–19 financial year.”
 
The Steiner Group has been a division of the Hindustan Construction Company based in Mumbai (India) since 2010, and 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
Steiner AG, one of the leading project developers and general/total contractors (GC/TC) 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 1,500 residential 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 and Lucerne. 
 
Disclaimer 
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
Steiner AG, Corporate Communications
Tel.: +41 58 445 20 00; corpcomanti spam bot@steineranti spam bot.ch 
 
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