Porr Ag · VIE:POS
Porr — Q1-3 2024 Earnings Presentation
13 slides from Porr's earnings presentation, Nov 21, 2024
Slide 1: Home of Construction: Investor Presentation Q1-3 Results 2024
HOME OF CONSTRUCTION Investor Presentation: Q1-3 Results 2024 November 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: Q1-3/24 at a Glance
Q1-3/24 AT A GLANCE 1 Surpassing the dip Running on full capacity 4 Stable balance sheet Equity ratio at 19.5% 2 Selective acquisition Heavy pipeline in PL & CEE 5 Solid net debt development Operational reduction of -8.2% 3 Performance further improved +17.8% in EBIT to EUR 91.9m 6 Outlook confirmed
Slide 4: Construction at Turning Point
CONSTRUCTION AT TURNING POINT FURTHER MOMENTUM COMING FROM INTEREST CUTS Re-start of industry with major public support Long-term drivers of demand across all major markets 5.7% ▪ EUR 2.5 bn residential construction Annual growth rates in Annual growth rates in 3.8% stimulus programme Euroconstruct-
Slide 5: Strong Order Book
STRONG ORDER BOOK VISIBILITY FOR >1 YEAR Order backlog (in EUR m) 8,701 8,198 7,778 7,863 40% 39% 15% 15% 19% 18% 9% 9% 3% 13% 1% 17% C+ / Prime Segment Q1-3/21 Q1-3/22 Q1-3/23 Q1-3/24 Top 10 % der Branche Holding Infra CEE PL DE AT / CH ▪ Focus on working-off existing major orders with high capacit
Slide 6: Solid Order Intakes
SOLID ORDER INTAKES SELECTIVE ACQUISITION Order intake (in EUR m) 5,298 4,833 4,617 4,773 55% 55% 13% 12% 8% 1,023m 151m 18% 10% INFRA 4% 10% INFRA 3% 11% 1% C+ / Prime Segment Q1-3/21 Q1-3/22 Q1-3/23 Q1-3/24 Top 10 % der Branche Holding Infra CEE PL DE AT / CH ▪ +3.7% order intake in Q3/24 vs. Q3/2
Slide 7: Top Order Intakes 2023/24
TOP ORDER INTAKES 2023/24 Civil engineering Other Non-residential construction Residential construction Q4/23 Q1/24 Q2/24 Q3/24 Elisabeth-Selbert-Haus Waste to Energy plant Data center TB1 - Tramvay Bucuresti office building Gorlice / PL / 95.8m DE / n.a. Lot 1 Berlin / DE / 88.7m Bukarest / RO / 14
Slide 8: Performance Improved Further
PERFORMANCE IMPROVED FURTHER SOLID INCREASE ON TOP-LINE Production output per segment (in EUR m) EBIT (in EUR m) EBIT (in % of revenue) CAGR: +6.7% 4,801 5,020 91.9 4,525 4,134 78.0 71.0 51% 2.0% 55.8 52% 1.7% 1.7% 14% 14% 15% 1.5% 13% 9% 12% 2% 9% 1% 7% Q1-3/21 Q1-3/22 Q1-3/23 Q1-3/24 Q1-3/21 Q1-3/
Slide 9: Input Costs Remaining Stable
INPUT COSTS REMAINING STABLE ABSOLUTE DECREASE IN MATERIAL EXPENSES Stagnating cost levels PORR‘s cost ratios in % of revenue 140 115 Indexed by Dec.22 130 Indexed per Q4/22 110 120 24% 105 110 47% 100 100 90 95 80 21% 90 70 Dez.22 Jun.23 Dez.23 Jun.24 Dez.22 Jun.23 Dez.23 Jun.24 AT: Road constructi
Slide 10: Stable Equity
STABLE EQUITY HYBRID REDUCTION Equity (in EUR m) and equity ratio (in %) 860 836 799 810 29% Hybrid share: 25% 31% 31% 20.8% 19.3% 19.4% 19.5% C+ / Prime Segment Top 10 % der Branche 2022 Q1-3/23 2023 Q1-3/24 ▪ 3.3% y-o-y increase in equity, despite redemption of profit participation capital of EUR
Slide 11: Continued Gross Debt Reduction
CONTINUED GROSS DEBT REDUCTION SOLID NET DEBT DEVELOPMENT Gross debt (in EUR m) Net debt (in EUR m) 734 695 336 168 One-offs: 590 585 237 118.8m 257 255 238 567 217 438 335 347 Q3/21 Q3/22 Q3/23 Q3/24 -59 -40 IFRS 16 - long-term office rentals 2022 2023 Q1-3/23 Q1-3/24 ▪ Gross debt further optimised
Slide 12: Comfortable Liquidity Cushion
COMFORTABLE LIQUIDITY CUSHION NO FURTHER NEED FOR REFINANCE Liquidity (in EUR m) Maturity profile of fiancial liabilities1 (in EUR m) 759 722 716 680 5 293 337 368 83 431 9 32 10 466 28 11 379 354 1 6 4 3 8 249 2024 2025 2026 2027 2028 >2028 Q1-3/21 Q1-3/22 Q1-3/23 Q1-3/24 Σ 1 6 45 3 115 28 Cash and
Slide 13: Outlook 2024
OUTLOOK 2024 IN DETAIL Stable order backlog Output: EUR 6.7-6.8 bn Revenue: EUR 6,150-6,250m EBIT: EUR 150-160m Investor presentation: Q1-3 Results 2024 20.11.2024 I 13