Article Tools

Service agreement of STRABAG group company SPFS with Deutsche Telekom ends latest on 30 June 2019

Published: October 18, 2017; 14:48 · (Vindobona)

The facility management services agreement between STRABAG Property and Facility Services GmbH Germany (SPFS) and Deutsche Telekom, which had been concluded in parallel with the acquisition of DeTeImmobilien in 2008, will end latest effective 30 June 2019. After long and intense negotiations, Deutsche Telekom has decided to award these services to another provider.

With the loss of a key client that had contributed annual average revenue of
about EUR 550 million, STRABAG PFS must undergo a fundamental reorganisation.
According to a preliminary estimate, the restructuring will result in a one-off
earnings reduction in the mid-range double-digit million euros. A corresponding
provision allowance is currently expected already…

This article includes a total of 253 words.

or Log In