Porr Ag · VIE:POS
Porr — Investor Presentation (March 2023)
16 slides from Porr's investor presentation, Mar 30, 2023
Slide 1: Investor Presentation March 2023
Investor Presentation March 2023
Slide 2: Disclaimer
• This presentation was prepared by PORR AG (the "Company") • This presentation contains forward-looking statements solely for use at investors’ meetings and is provided solely relating to the business, financial performance and results of for informational purposes. the Company and/or the industry
Slide 3: Order book at all-time high
Order book at all-time high 1 Addressing client’s top challenges Established market leadership in the long run Strong production output of EUR 6.2 bn (+8.7%) 2 Strong revenue stream (+11.9%) EBT at EUR 110.0m (+28.9%) 3 Record delivery on track – EPS of EUR 1.65 (+39.8%) Strong financial delivery 4
Slide 4: Material costs stabilising, ongoing demand in sector
Material costs stabilising Ongoing demand in sector 6% 190 Indexed by 31.12.2021 170 4% Annual growth 150 2% 130 110 0% 90 -2% Dez 21 Mrz 22 Jun 22 Sep 22 Dez 22 2023 2024 2025 AT: Bitumen DE: Reinforcing steel in bars Diesel AT DE CH PL CZ SK • Back to new normal: Material prices • Steady rise afte
Slide 5: Record order book with strong earnings potential
Order backlog in EUR m Order intake in EUR m +30% 8,204 7,764 +22% 7,067 6,659 6,414 6,298 5,905 53% 5,437 53% 55% 47% 32% 27% 28% 27% 13% 11% 13% 8% 5% 4% 13% 11% 31.12.2019 31.12.2020 31.12.2021 31.12.2022 31.12.2019 31.12.2020 31.12.2021 31.12.2022 Civil engineering Non-residential construction C
Slide 6: Selected projects
Drammen Bybrua Heating power plant Wien Museum NO Siezenheim, AT AT Waste to Energy plant University Hospital DK11 expressway Rzeszow, PL St. Pölten, AT PL Investor presentation FY 2022 March 2023 6
Slide 7: Record output resulting from increases in most segments
Production output in EUR m +12% • Record output resulting from 6,226 increases in most segments (+8.7%) 5,570 5,727 5,185 • AT / CH with +8.2% output as 53% 51% stable backbone • Major projects in infrastructure 14% construction coming into execution 18% phase in CEE (+19.2%) 13% 10% 9% 10% • PL sho
Slide 8: +40% earnings per share increase
EPS in EUR EBT in EUR m EBT margins in % of production output +39.8% +28.9% 110.0 1.65 85.4 1.18 37.4 1.5% 1.8% 0.50 0.7% -1.0% -51.0 -2.28 2019 2020 2021 2022 2019 2020 2021 2022 • +40% earnings per share increase • Strong earnings growth despite inflation and cost increases • Bottom-line performan
Slide 9: EBT and margins by segment
EBT in EUR m 2021 EBT margins in % of production output 2022 AT / CH DE PL CEE Infra 2.7% 2.6% -0.5% 0.4% 1.9% 2.7% 1.0% 1.8% -2.4% 0.0% 84.7 80.1 21.4 13.3 11.7 3.6 5.7 0.0 -4.3 -12.9 • Record output and • Increased order • Significant • Strong increase in • Turnaround continued strong backlog in h
Slide 10: Stable net cash position
Equity in EUR m Net debt (+) / Net cash (-) in EUR m Equity ratio in % 824 799 651 599 20.3% 19.3% 18.5% 343 Stable net 16.4% cash position 135 -65 -59 2019 2020 2021 2022 2019 2020 2021 2022 • Repayment of EUR 51.1m of hybrid • More than EUR 400m reduction in capital – share of hybrid capital of to
Slide 11: Further reduction in operational working capital
Working Capital in EUR m Free Cash Flow in EUR m Working Capital in % of total assets 263 213 202 191 186 5.8% 139 5.3% 5.0% 80 0.4% 15 2019 2020 2021 2022 2019 2020 2021 2022 • Further reduction in operational • High level FCF despite impacts from working capital volatile working capital cash flow
Slide 12: Strong liquidity reserve at EUR ~950m
Cash and cash equivalents in EUR m Maturity profile as of February 2023 in EUR m 765 14 656 582 583 359 93 320 63 17 17 10 18 12 9 3 10 6 6 4 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 from 2028 Term loans SSD floating SSD fix • Strong liquidity reserve at EUR ~950m • Redemption of EUR 1
Slide 13: ESG ratings
AA Top segment in Construction & Engineering segment C+ / Prime Status Top 10% of Industry B / Management segment Climate Change & Water Security 99% for PORR Bau GmbH ESG Audit 29.5 / Medium Risk Top 15% in Construction & Engineering Investor presentation FY 2022 March 2023 13
Slide 14: Payout ratio of 36.4% in line with dividend policy
DPS in EUR Dividend yield in % 1.10 1.10 0.60* 0.50 6.3% 5.3% 4.0% 3.6% - - 2017 2018 2019 2020 2021 2022 • Payout ratio of 36.4%* in line with dividend policy of 30-50% payout ratio • Dividend policy reflects earnings outlook and reliability * Proposal to the AGM Investor presentation FY 2022 March
Slide 15: Outlook 2023
Record order book and good infrastructure environment Production output at least on 2022 level Further increase in earnings Investor presentation FY 2022 March 2023 15
Slide 16: Share Information, Upcoming Events, IR Contact
Share Information 1 Upcoming Events Share price EUR 13.54 18 Apr 2023 Record Date for the attendance of the 143rd AGM Market capitalisation EUR 531.8m 28 Apr 2023 143rd Official market Vienna Stock Exchange Annual General Meeting Prime Market 5 May 2023 Trade ex-dividend Number of shares 39,278,250