Porr AG · VIE:POS
Porr — Q1 2024 Earnings Presentation
11 slides from Porr's earnings presentation, May 2024
Slide 1: Home of Construction – Investor Presentation: Q1 Results 2024
HOME OF CONSTRUCTION Investor Presentation: Q1 Results 2024 May 2024
Slide 2: Disclaimer
DISCLAIMER • This presentation was prepared by PORR AG (the "Company") solely for • This presentation contains forward-looking statements relating to the use at investors’ meetings and is provided solely for informational business, financial performance and results of the Company and/or the purposes
Slide 3: Q1/24 at a Glance
Q1/24 AT A GLANCE 1 Stable construction environment Strong infrastructure intakes 4 Strong balance sheet Equity ratio of 19.7% (+0.5 PP yoy) 2 Resilient order book High level of EUR 8.4 bn maintained 5 Comfortable liquidity cushion Free cash flow improved 3 Reliable top line Earnings quality clearly
Slide 4: Promising Construction Environment
PROMISING CONSTRUCTION ENVIRONMENT STRONG ORDER INTAKE IN INFRASTRUCTURE Turnaround in construction starting in 2024 PORR‘s order backlog (in EUR m) 2.5% 2.5% CAGR: +2.5% 2.3% 1.7% 1.6% 8,211 8,439 Annual growth rates 1.5% 1.3% 1.4% 8,033 0.9% 0.0% 55% 59% 64% 23% 30% 17% 27% 19% -2.1% 9% 10% 9% 5%
Slide 5: Stable Order Intake
STABLE ORDER INTAKE Order intake (in EUR m) 1,429 1,278 1,311 64% 64% 16% 19% 6% 9% 14% 8% C+ / Prime Segment Q1/22 Q1/23 Q1/24 Top 10 % der Branche Miscellaneous Residential Non-residential Civil engineering ▪ +12% order intakes in infrastructure ▪ Full pipeline from European Recovery and Resilienc
Slide 6: Top Order Intakes 2023/24
TOP ORDER INTAKES 2023/24 Civil engineering Other Non-residential construction Residential construction Q2/23 Q3/23 Q4/23 Q1/24 Arge H53 Brenner Pumped storage Elisabeth-Selbert-Haus Waste to Energy plant Base Tunnel power plant office building Gorlice / PL / 95.8m AT / 479.6m Ebensee / AT / 167.0m
Slide 7: Stable Top Line
STABLE TOP LINE IMPROVEMENT IN EARNINGS Production output per segment (in EUR m) EBIT (in EUR m) EBIT (in % of revenue) CAGR: +9.7% 1,271 1,323 11.3 1,161 9.9 1,002 6.0 0.8% 0.9% 48% 0.5% 53% 16% 17% -0.5% 15% 12% 11% 5% -4.4 2% 12% 2% 8% Q1/21 Q1/22 Q1/23 Q1/24 Q1/21 Q1/22 Q1/23 Q1/24 Holding Infra
Slide 8: Cost Management Mastered
COST MANAGEMENT MASTERED ABSOLUTE COST DECREASE IN MATERIALS AND RELATED SERVICES Cost indices stablising on high levels PORR‘s cost ratios in % of revenue 120 130 Indexed per Q1/22 110 120 47% 100 26% 110 19% 90 100 80 Dez.21 Jun.22 Dez.22 Jun.23 Dez.23 Mär.22 Sep.22 Mär.23 Sep.23 Mär.24 AT: Road c
Slide 9: Balance Sheet Sustainably Optimised
BALANCE SHEET SUSTAINABLY OPTIMISED STRONG EQUITY DESPITE HYBRID REDEMPTION Equity (in EUR m) Net debt (+) / Net cash (-) (in EUR m) 860 107 815 100 799 795 Hybrid share: 25% +159m +147m 20.8% 19.7% 19.3% 19.2% -40 -59 2022 Q1/23 2023 Q1/24 2022 Q1/23 2023 Q1/24 ▪ Redemption of profit participation
Slide 10: Comfortable Liquidity Cushion
COMFORTABLE LIQUIDITY CUSHION FINANCIAL PROFILE FIXED UNTIL 2028 Liquidity (in EUR m) Maturity profile1 (in EUR m) 1,037 5 949 905 884 293 405 327 83 405 9 32 10 656 631 28 11 578 478 34 7 4 12 7 2024 2025 2026 2027 2028 >2028 2022 Q1/23 2023 Q1/24 Σ 7 7 45 12 115 27 Cash and cash equivalents Commit
Slide 11: Outlook 2024 Confirmed
OUTLOOK 2024 CONFIRMED. Stable order backlog Moderate increase in output Improvement in earnings Investor presentation: Q1 Results 2024 22.05.2024 I 11