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PORR delivers top results in 2023

Improvements at every level, positive outlook for 2024

Annual and sustainability report 2023.


  • Production output up by 5.6% to EUR 6.6 bn
  • Top order backlog of EUR 8.5 bn – a rise of 3.0%
  • Increase in EBT by 18.8% to EUR 130.7m
  • EBIT improves by 16.8% to EUR 140.3m
  • Earnings per share grow by 34.3% to EUR 2.21
  • Balance sheet structure optimised: Equity ratio up by 1.5 PP to 20.8%

Vienna, 21.03.2024 - PORR achieved record earnings of EUR 130.7m in 2023. With an increase in output of 5.6% and efficient cost management, PORR performed excellently in a challenging environment. In terms of the order situation, strong drivers such as the green transformation and the energy transition are providing positive momentum, particularly in civil engineering and infrastructure construction.

“2023 was an enormously exciting and challenging year for the construction industry. Our broad-based portfolio and comprehensive expertise in infrastructure allowed us to deliver great results in this environment”," said PORR CEO Karl-Heinz Strauss. On the one hand, positive developments in environmental and energy policy provided impetus for construction activity. On the other hand, the industry felt the effects of a decline in residential construction, which plays a subordinate role in PORR’s order backlog, accounting for around 8%. Civil engineering and infrastructure construction once again proved to be growth drivers.

This trend is reflected in both production output and in PORR’s order books. Production output rose by 5.6% against the previous year to EUR 6,577m, with double-digit growth on the home markets of Poland, Romania and Germany. More than half of the output came from civil engineering. The lion’s share of production output with 45.1% was generated in the home market of Austria.

Infrastructure projects making a mark

PORR’s order backlog increased by 3.0% to EUR 8,452m, while the order intake rose by 2.7% to EUR 6,835m - a continuation of the positive trend of previous years. The largest new orders of the year also came from civil engineering. Leading here is construction lot H53 of the Brenner Base Tunnel - the largest construction lot in Austria’s history and with a total contract value of almost EUR 1 bn - which is being realised together with a consortium partner. In the infrastructure sector, PORR won important projects related to the energy transition, such as tunnelling under the River Elbe for the high-capacity SuedLink wind-power line in Germany and the Ebensee pumped storage power plant in Austria. Strauss again: “Examples like these show that the construction industry is an important part of the energy transition and PORR is playing a significant role in this”.

Positive momentum was also felt in other building construction sectors, such as healthcare, industrial construction and commercial construction as well as public building construction. PORR’s new healthcare projects include the oncological hospital in Wrocław and the Pomeranian Medical University Szczecin in Poland. They show that the healthcare sector is a major growth market. Industrial construction is also playing a significant role in PORR’s order intake which included winning the contract to expand the Vienna airport.

Higher revenue, lower expenditure

While revenue rose by 4.5%, PORR was able to reduce the cost of materials by 5.8% against the previous year and successfully manage the inflation-driven rise in staff and subcontractor costs. With the resulting very pleasing earnings before taxes (EBT) of EUR 130.7m, PORR once again demonstrated its resilience in a challenging market environment. The EBT margin in relation to production output rose to 2.0%. The EBIT margin in relation to revenue climbed to 2.3%. Earnings per share also rose sharply, increasing by 34.3% to EUR 2.21.

Improved financial performance

PORR has significantly improved its balance sheet structure with consistent capital management. As of 31 December 2023, the equity ratio stood at 20.8%. The early refinancing of hybrid capital and profit-participation rights will sustainably safeguard the equity ratio.

Trade receivables were successfully reduced through targeted receivables management and working capital decreased as well. PORR still has a comfortable liquidity cushion. Liquidity reserves totalled EUR 1,037m at the end of the period. For the third year in a row, PORR recorded a net cash position, totalling EUR 40.1m at year-end.

Outlook 2024

Based on the well-filled order books, the Executive Board expects a moderate increase in output for 2024 and a rise in EBIT despite a volatile environment.

The assessment of how the business will perform is based on the current goals in the individual segments as well as the opportunities and risks arising in the respective markets. Should the geopolitical situation intensify, this could have a negative impact on PORR and its business activities. Any assessment of economic development is therefore subject to forecasting risks.

Facts and figures at a glance

Key financial indicators (EUR m) 2023 % ∆  2022 
Production output 6,577 5.6 %  6,226 
Average staffing levels 20,665  2.1 %  20,232 
Order backlog  8,452  3.0 %  8,204 
Order intake  6,835  2.7 %  6,659 
Revenue  6,048.5  4.5 %  5,786.0 
EBITDA  344.3  8.0 %  318.9 
EBIT  140.3  16.8 %  120.1 
EBT  130.7  18.8 %  110.0 
Profit for the period  95.0  15.0 %  82.6 
Financial position indicators (EUR m) 31.12.2023  % ∆  31.12.2022 
Total assets  4,136  -0.3%  4,147 
Equity capital  860  7.7 %  799 
Equity ratio  20.8 %  1.5 PP  19.3 % 
Net Cash   40  -32.1 %  59 
Free Cashflow  99.4  -47.9 %  190.6 
Key share data (EUR) 2023  % ∆  2022 
Earnings per share 2.21  34.3 %  1.65 
Dividend per share 0.752  25.0 %  0.60 

1   Production output corresponds to the output of all companies and consortiums (fully consolidated, equity method, proportional or those of minor significance) in line with the interest held by PORR AG.
2   Proposal to the Annual General Meeting

Non-financial indicators 2023 % ∆ 2022
Energy intensity (MWh/TEUR) 0.114 -10.4 % 0.127
Intensity of GHG emissions (Scope 1+2)
(t CO2 e/TEUR)
0.028 -13.3 % 0.033
Total waste (t) 10,651 16.3 % 9,159
Recycled materials used (t) 109,515 17.5 % 93,200
Total water consumption (Tm3) 218 -9.1 % 240
Work-related injuries (rate) 13.5 -11.6 % 15.3
Share of female staff 16.1 % 0.3 PP 15.8 %
Anti-corruption training
3,965 25.6 % 3,158

You can find the press release here in the PORR Newsroom. High-resolution images from this year’s press conference on the annual results will also be available there from around 11:00 am (please note the copyright © PORR). The Annual and Sustainability Report 2023 can be downloaded here.

For enquiries, please contact:

Karl-Heinz Strauss 
T +43 50 626 1001 

Klemens Eiter 
T +43 50 626 1004 

Press contact: 

Melanie Manner 
Pressesprecherin , PORR AG 
T +43 50 626 5867 

Investor Relations contact:

Lisa Galuska 
Head of Investor Relations , PORR AG 
T +43 50 626 1765 



Here you can find all of the materials related to this press release. Maybe you still have additional questions? Simply contact us. We look forward to providing you with answers.

Melanie Manner Press spokeswoman