Vienna, 22 August 2017 – Based on preliminary and unreviewed numbers for the first half year 2017, PORR achieves weaker results while production output increases strongly. Production output is at EUR 2,015 million and thus 21 % above the same period of the previous year. Order bookings are at EUR 2,911 million (EUR 2,564 million as of 30 June 2016). Order backlog is at aggregate EUR 5,700 million (EUR 5,481 million as at 30 June 2016) and continues to be at a historic high.
- Production output at EUR 2,015 million, 21 % above previous year
- EBITDA at approx. EUR 55.4 million, EUR 12.5 million below previous year
- EBT at approx. EUR 2.5 million, EUR 18.9 million below previous year
- Order backlog reaches new high at EUR 5,700 million
- Order bookings increase by approx. 14 % to EUR 2,911 million
EBITDA decreases from EUR 67.9 million in the same period of the previous year by approx. 18 % to approx. EUR 55.4 million. EBT decreases from EUR 21.4 million in the same period of the previous year by approx. 88 % to approx. EUR 2.5 million.
Such development is primarily due to two factors: “One the one hand, the politic turbulences in Qatar result in higher costs caused by more complex logistics and supply processes, whereby all projects proceed as planned”, explains Karl-Heinz Strauss, CEO of PORR AG. “On the other hand, we consciously invested into growth and materially increased capacities in Germany to cover the entire region in a very short period – both organically and via acquisitions, namely of Franki and Oevermann. Integration of the new capacities is the next step. This results in costs which are reflected in our financial results. Such investment is though a fundament for targeted sustainable future profits”, adds Strauss.
Based on the preliminary results for the first half year management expects that, assuming unaltered circumstances, the result for the full year will – despite a strongly increasing production output – be slightly below the previous year.
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Christian B. Maier
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comms @ porr-group.com
Sandra C. Bauer
Head of Corporate Communications | Corporate Spokesperson
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