Results for the first nine months 2015: PORR doubles earnings and increases order backlog

• Production output of EUR 2,540m matches high level of previous year
• EBT rises by around 116% to EUR 32.6m
• Order backlog up by 12.4% against comparable period to EUR 4,647m
• Rise in order bookings of around 40% to EUR 3,128m
• Positive outlook for full-year 2015 confirmed

Vienna, 27 November 2015 – PORR succeeded in matching the high output level of the previous year thanks to stable growth on its home markets. At 30 September 2015 production output stood at EUR 2,540m, marking a rise of EUR 34m or 1.4% against the comparable period. Here Austria remained the most important market by some margin and was responsible for generating more than half of total production output.
 
The solid output performance and the improvement in costs is also reflected in earnings. PORR achieved EBT of EUR 32.6m, representing an increase of EUR 17.5m or 115.7% against the previous year. The profit for the period stood at EUR 24.0m for the first three quarters of 2015, which was 90.2% higher than the comparable period. PORR also managed to reduce net debt by 39.2% against the comparable period to EUR 264m.
 
“The home markets, complemented by selective activities on the project markets and infrastructure projects in Qatar, provided a stable foundation for our successful performance in the first three quarters of 2015”, said Karl-Heinz Strauss, CEO of PORR AG. “PORR continues to benefit from its strategy of intelligent growth. The integration of the Polish civil engineering unit acquired from Bilfinger will allow us to profit from the construction boom and EU financing in the coming years.”
 
Order backlog exceeds high level of previous year yet again
The Group’s order situation is also positive: the order backlog totalled EUR 4,647m, representing an increase of EUR 514m or 12.4%. Order bookings achieved even sharper growth, totalling EUR 3,128m, which was EUR 887m or 39.6% higher than the comparable period. This development was not driven by one-off impacts – such as individual large-scale projects – but was spread evenly across all of the individual business units.
 
The largest new orders of this year included a new project from Qatar – PORR will be the system supplier for the for the entire Doha metro network with its PORR-patented Austria Slab Track system (elastically supported track base plates). PORR is also realising the new office building for the Swiss federal railways at Zurich station, the Bavaria Towers project in Munich and a major German industrial construction project for the client Haribo. In Vienna Monte Laa lots 3 and 5 will also be realised in the coming months. In infrastructure construction PORR acquired the Swiss tunnel project Albula II and works on the Ceneri Tunnel in summer, while in Austria it won the tender for a lot on the A5 motorway. The most important new projects in Poland were the Prokocim Hospital in Krakow and the Hotel Marriott Okecie in Warsaw.
“Given the corporate growth so far this year, we expect another positive increase in overall earnings for the full-year 2015”, said Karl-Heinz Strauss. “Our cushion of orders extends to well beyond 2016 and will allow PORR to pursue a tender-acquisition policy focused on earnings and margins in many areas”.
 
The interim report on the 3rd quarter 2015 is available for download from www.porr-group.com.