However, order backlog increased 83% to EUR372.2 million in the first three months, from EUR203.5 million in the first quarter of 2010, Strabag said in its financial report.
The Austrian company estimates growing demand in Romania in 2011, albeit on top of a lower price level, as the country’s economy remains strongly influenced by the crisis of 2008.
Early January, Strabag was awarded two rehabilitation and upgrade contracts for Romanian national roads DN 14 and DN 15a, worth a total EUR106 million. Construction began in April and is scheduled for completion in March 2013.
Worldwide, Strabag reported a loss of EUR117 million in the first quarter, flat on the year, despite a 24% increase in revenue to EUR2.2 billion.
The group’s order backlog declined 3% to EUR15.2 billion in the first three months.