Edition:
United States

Strabag says service agreement of SPFS with Deutsche Telekom ends latest on June 30, 2019​


Wednesday, 18 Oct 2017 08:46am EDT 

Oct 18 (Reuters) - STRABAG SE ::‍SERVICE AGREEMENT OF STRABAG GROUP COMPANY SPFS WITH DEUTSCHE TELEKOM ENDS LATEST ON 30 JUNE 2019​.‍STRABAG PFS MUST UNDERGO A FUNDAMENTAL REORGANISATION​.‍DIRECTLY AFFECTED BY DECISION AROUND 3,300 EMPLOYEES WORKING EXCLUSIVELY FOR DEUTSCHE TELEKOM ACCOUNT​.‍WITH LOSS OF KEY CLIENT, STRABAG PFS MUST UNDERGO FUNDAMENTAL REORGANISATION​.‍STRABAG SE'S TARGETED EBIT MARGIN OF AT LEAST 3% FOR 2017 APPEARS AMBITIOUS​.‍AGAINST THIS BACKGROUND, STRABAG SE'S TARGETED EBIT MARGIN OF AT LEAST 3 % FOR 2017 APPEARS AMBITIOUS, YET WITHIN REACH​.‍STRABAG SE'S TARGETED EBIT MARGIN OF AT LEAST 3 % FOR 2017 APPEARS AMBITIOUS, YET WITHIN REACH​.‍ANNUAL REVENUE LOSS WON'T IMPACT TARGETS OF STRABAG SE GROUP UNTIL 2019​.