The German Federal Constitutional Court in Karlsruhe today (August 20) published a Senate resolution partially upholding a constitutional complaint against provisions contained in the German Offshore Wind Energy Act (file number 1 BvR 1679/17). STRABAG, through its respective project companies and together with eight other project sponsors, had submitted the constitutional complaint at the end of July 2017 to force a review of the new legal provisions for offshore wind energy that had come into force at the start of 2017. Specifically, the Offshore Wind Energy Act had the unconstitutional retroactive effect of devaluing, without compensatory provisions, investments already made by the complainants.
STRABAG welcomes today's decision by the Federal Constitutional Court as strengthening the doctrine of legitimate expectation in Germany. The company will examine the court's decision in detail and wait to see how the German legislature will implement the measures mandated by the Federal Constitutional Court by the deadline set for 30 June 2021.
The resolution has no immediate influence on the STRABAG SE earnings guidance.
STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machinery at the right place and at the right time in order to realise even complex construction projects - on schedule, of the highest quality and at the best price. The hard work and dedication of our more than 75,000 employees allow us to generate an annual output volume of around 16 billion. At the same time, a dense network of numerous subsidiaries in many European countries and on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available at www.strabag.com
STRABAG welcomes today's decision by the Federal Constitutional Court as strengthening the doctrine of legitimate expectation in Germany. The company will examine the court's decision in detail and wait to see how the German legislature will implement the measures mandated by the Federal Constitutional Court by the deadline set for 30 June 2021.
The resolution has no immediate influence on the STRABAG SE earnings guidance.
STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machinery at the right place and at the right time in order to realise even complex construction projects - on schedule, of the highest quality and at the best price. The hard work and dedication of our more than 75,000 employees allow us to generate an annual output volume of around 16 billion. At the same time, a dense network of numerous subsidiaries in many European countries and on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available at www.strabag.com
CONTACT
Diana Neumüller-Klein, CFA
Head of Corporate Communications
Spokeswoman
STRABAG SE
Head of Corporate Communications
Spokeswoman
STRABAG SE
Donau-City-Str. 9
1220 Vienna
Austria
Tel. +43 1 22422-1116
Fax +43 1 22422-1177
diana.klein@strabag.com
