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Press release

H1/2016: PORR – improved earnings and record order backlog

Intelligent growth leads to higher output and earnings

Order backlog of EUR 5,481m (+13.5%) reaches new record high

  • Order bookings rise by 13.0% to EUR 2,564m
  • Production output up by 11.1% yoy to EUR 1,663m 
  • EBT of EUR 21.4m marks a 25.1% increase

Vienna, 30 August 2016 – PORR presents a successful set of interim results at the end of the first half: PORR production output increased by 11.1% and was once again higher than the value of the previous year at EUR 1,633m. The largest contributor to output with EUR 887m came from Business Unit 1 – Austria, Switzerland and the Czech Republic. In line with expectations, EBT climbed by 25.1% to EUR 21.4m, while the profit for the period was EUR 16.3m at the end of the first half - an increase of 50.2% on the comparative value for the previous year.
 
At the same time PORR achieved a sharp rise in order bookings and the order backlog in the period under review. The order backlog rose by 13.5% against the previous year to total EUR 5,481m at 30 June 2016. Order bookings grew by 13.0% to EUR 2,564m and were thereby significantly higher than the output worked off during the reporting period.
 
“We have stayed true to our strategy of intelligent growth with a focus on the home markets with a strong credit standing. In parallel, the significantly improved cost structure and our consistent process optimisation has led to significant growth in earnings. This performance and our current order situation is a positive sign for the full year and, with our well-filled order books, we are already very well equipped today for the coming years”, said Karl-Heinz Strauss, CEO of PORR AG. 
 
The largest order bookings since the start of the year were the Bratislava Bypass and the Al Wakrah Stadium for the 2022 Qatar World Cup in Doha. Additional large-scale orders included the office building Europaallee/lot F in Zurich, the S6 Koszalin–Sianow in Poland and another impressive building construction project in Berlin with the Zalando Campus. The S8 extension Poręba–Ostrow in Poland, the “Business Garden Bucharest” project and the Triester Straße 40 residential complex in Vienna also made a significant contribution to the increase in order bookings. 
 
Germany is PORR’s most important foreign market. The company offers its entire construction portfolio here and is constantly expanding its activities. Production output of EUR 347m was generated in the first half of 2016. The largest new orders in the first half included the Zalando Campus in Berlin, the Düte Bridge in North-Rhine Westphalia, the La Tete office project in Düsseldorf and Schlossquartier Kiel.
 
Positive outlook for 2016 
 
The business performance in the first half of 2016 confirmed the positive outlook for the full year. Every home market achieved a strong increase in output, complemented by the satisfactory development in Qatar, the highly promising expansion into the new markets of Norway and the UK, as well as the planned reduction of activities in the CEE/SEE region. This growth is being supported internally by the “Roadmap 2020”, a strategy for the digitalisation of construction sites and work processes. Against this backdrop, the Executive Board expects a further increase in output and earnings for the current business year 2016.
 
The Half Yearly Report 2016 is available for download from www.porr-group.com.  

Contact:
 
Sandra C. Bauer
Head of Corporate Communications | Corporate Spokesperson
T. +43 50 626-3338
M. +43 664 626-3338
sandra.bauer•@•porr.at
porr-group.com

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Contact
Sandra C. Bauer Corporate Spokesperson
+43 50 626-3338