- Numerous new orders in new and existing markets
- EBT up by 25.0% to EUR 40.8m
- Production output of EUR 2,788m increases by 9.8% against previous year
- Order backlog of EUR 5,181m (+11.5%) marks another all-time high
- Order bookings grow by 8.4% to EUR 3,390m
- Positive outlook for full year 2016
Vienna, 29 November 2016 – PORR continued its successful course in the third quarter of 2016. Production output rose by 9.8% in the first nine months of 2016 and totalled EUR 2,788m, well above the value of the previous year. With production output of EUR 1,529m (+10.7%), Business Unit 1 – Austria, Switzerland and Czech Republic was once again the main economic driver. EBT grew by 25.0% and reached EUR 40.8m. The profit for the period of EUR 30.7m was even 27.9% above the comparable value of the previous year.
“Our strategy of intelligent growth with a focus on the home markets with strong credit standing was confirmed once again in the third quarter. In a very difficult market characterised by consolidations, we managed to implement measures to increase output and earnings early on. On the basis of the exceptional order backlog we expect positive growth in earnings for the full year. Here the “Roadmap 2020” – our internal project for digitalisation and process optimisation – is making a significant contribution”, said Karl-Heinz Strauss, CEO of PORR AG, expressing his satisfaction with the business performance.
PORR’s order situation underwent an equally positive performance in the period under review. At 30 September 2016 the PORR order backlog of EUR 5,181m reached a new record high and rose by 11.5% against the previous year. Order bookings of EUR 3,390m marked an increase of 8.4% year-on-year.
The largest new orders since the start of the year included the D4/R7 motorway section, the Bratislava Bypass in Slovakia, the Al Wakrah football stadium in Qatar, and the office building Europaallee, lot F, in Zurich for the Swiss Federal Railways. In Poland PORR acquired the S6 Koszalin–Sianow motorway project, and the new Zalando Campus in Berlin. Other important projects included the extension of the S8 Poreba–Ostrow in Poland, the Business Garden Bucharest office complex and the new construction of the Muçon Hotel in Munich. The largest new orders in the third quarter included the residential and hotel project Wettiner Platz in Dresden as well as, in the infrastructure sector, the first tunnel tender in Norway – the construction of a 5.5km-long section of County Road 17 in the Nordland province, which should run through two tunnels. In the Environmental Engineering sector PORR acquired the environmental clean-up project N12 Kapellerfeld.
Positive outlook 2016
The outlook for the full year 2016 remains positive – production output, the order backlog and earnings are all undergoing growth. This is complemented by the good progress in Qatar, coupled with the highly promising expansion with the first new projects in Norway and the UK. Given these positive signs, the Executive Boards expects a further increase in output and earnings for the current business year 2016.
The interim report on the third quarter 2016 is available for download at porr-group.com.
Sandra C. Bauer
Head of Corporate Communications | Corporate Spokesperson
T. +43 50 626-3338
M. +43 664 626-3338