Porr Ag · VIE:POS
Porr — H1 2025 Earnings Presentation
61 slides from Porr's earnings presentation, Aug 21, 2025
Slide 1: Investor Presentation HY/25
V4 Investor Unternehmenspräsentation Presentation HY/25 August März 2024 2025
Slide 2: Disclaimer
DISCLAIMER • This presentation was prepared by PORR AG (the "Company") solely for use at investors’ meetings and is United States, and the securities of the Company have not been and will not be registered under the provided solely for informational purposes. A distribution of this document is not p
Slide 3: PORR Next Level
1 PORR Next Level Investor Presentation 21.08.2025 I Page 3
Slide 4: Strong Figures 2024
STRONG FIGURES 2024 PROFITABILITY & GROWTH EUR >6.7 bn EUR >8.5 bn Output / +17.8% since 2021 Backlog / +10.0% since 2021 EUR 158.4m ~ 21.000 EBIT / +66.3% since 2021 Staff Data as per 31.12.2024 QA Investor Presentation 21.08.2025 I Page 4
Slide 5: Our USP
CON N ST IG R ES UC D TIO N OUR USP ONE-STOP N D EM O SHOP ATI OL OV ITI EN ON R O PERATION Investor Presentation 21.08.2025 I Page 5
Slide 6: The 4 D's of PORR
THE 4 D‘S OF PORR DEMAND IN INFRASTRUCTURE AND BUILDINGS Deglobalisation Decarbonisation Digitalisation Demographic change Regionalisation & Climate neutrality & Artificial intelligence & Urbanisation & resilience +1.5°C maximum digital construction ageing society Nearshoring and reshoring to Energy
Slide 7: Focus on Intelligent Growth
FOCUS ON INTELLIGENT GROWTH WITH GREEN AND LEAN Intelligent Growth Green and Lean Company Employees Lean ESG Best in class for We live our Lean Clear commitment to ecological, construction & technologies PORR principles Construction environmentally-friendly construction Build on leading The Best Lea
Slide 8: Clear Focus on Europe
CLEAR FOCUS ON EUROPE NO SEVEN HOME MARKETS 98% Home markets UK 45.7% 14.3% DE PL CZ 23.2% 7.4% SK AT CH 1.9% 5.9% RO 2% Project markets QA Data as of 2024 Investor Presentation 21.08.2025 I Page 8
Slide 9: Construction Market in Full Swing
CONSTRUCTION MARKET IN FULL SWING ONGOING INVESTMENTS IN HOME MARKETS EUR 700m annually EUR 1 bn annually for healthcare infrastructure for residential construction EUR 48 bn until 2029 EUR 3.3 bn annually for railway infrastructure for railway infrastructure EUR 31.5 bn until 2032 EUR 19 bn until 2
Slide 10: Highlights out of the Order Book
HIGHLIGHTS OUT OF THE ORDER BOOK FINISHED & ONGOING PROJECTS Building construction Energy transition Railway construction Tunnelling KinderKunstLabor, AT Wind turbines harbour Szczecin, PL Craiova - Drobeta Turnu Severin, RO U2 17-21, AT Hydro engineering Specialist civil engineering Industrial cons
Slide 11: PORR in Motion
PORR IN MOTION FURTHER GROWTH SECURED Growth 2025: 6.5% Healthcare Data centres Market to double until 2032 1 trillion euro for Energy DE PL Modular 4.7% European transition climate neutrality residential CAGR in CEE CZ SK AT CH 3.3% growth Investments 2025: EPC until 2027 Railways RO EUR >20 bn fro
Slide 12: Data Centres
Data centres DATA CENTRES TOP-LEAGUE CONSTRUCTION 0.7% of total output TOP 3 projects: • FRA32: 32 MW, DE • BER12: 16 MW, DE • WAW 11.1: 8 MW, PL Estimated market CAGR until 2032: 13% OUR USP: General contractor • One-stop shop for data centres 2022 2023 2024 2025 2026 2027 • Proven track record of
Slide 13: Healthcare
HEALTHCARE Healthcare FULL-SERVICE PROVIDER 1.9% of total output TOP 3 projects in order backlog: • DCO Clinic Wrocław, PL • Regional hospital Wr. Neustadt, AT • Pomeranian Medical University, Szczecin, PL Market development Estimated market CAGR until 2030: 4.8% OUR USP: One-stop shop • Covering th
Slide 14: Modular Construction
Residential construction MODULAR CONSTRUCTION HOMES WITH SYSTEM 8.1% of total output TOP 3 projects in order backlog: • App. Bldg. Q17 Reininghaus, Graz, AT • App. Bldg. An der Schanze Lot A, Vienna, AT • App. Bldg. Donaustadtstraße 37, Vienna, AT Market development -1.1% Estimated CEE market OUR US
Slide 15: Industrial Construction
INDUSTRIAL CONSTRUCTION EPC PREFERRED PARTNER 6.9% of total output TOP 3 projects in order backlog: • BMW Production plant, Munich, DE • LG3 Vienna Airport Terminal 3, Vienna, AT • Windar production building, Szczecin, PL Market development +1.0% Home market growth until 2027: 3.3% OUR USP: Long-ter
Slide 16: Energy Works
Energy transformation ENERGY WORKS USING CLIMATE FOR A LIVING 3.2% of total output TOP 3 projects in order backlog: • ARGE Tunnel ElbX, Glücksstadt, DE • Pumped storage power plant, Ebensee, AT • Waste to energy plant, Gorlice, PL Market development Estimated market OUR USP: Power plants CAGR until
Slide 17: Road Construction
ROAD CONSTRUCTION Roads FULL-SERVICE PROVIDER 24.1% of total output TOP 3 projects in order backlog: • Design & Build: Sibiu – Pitesti Lot 4, RO • ARGE D0 Bechovice – D1, CZ • Tramway Bucharest Lot 1, RO Market development 2025 road investments • AT/ASFINAG EUR 1.2 bn • PL/GDDKiA EUR 3.8 bn OUR USP:
Slide 18: Railway Construction
RAILWAY CONSTRUCTION Railways PATENTED SLAB TRACK AUSTRIA 7.2% of total output TOP 3 projects in order backlog: • ARGE Semmering base tunnel 4.1, AT • LK 131 Chorzów – Nakło, PL • Braník Bridge, CZ Market development 2025 railway investments • AT/ÖBB EUR 3.5 bn • DE/DB EUR 17 bn OUR USP: Slab Track
Slide 19: Tunnels, Bridges & Co.
TUNNELS, BRIDGES & CO. Tunnels & bridges HOME OF SPECIALITIES 25.7% of total output TOP 3 projects in order backlog: • ARGE H53 Brenner base tunnel, AT • Expressway SSW Hannover, DE • CPK tunnel Łódź, PL Market development Broad infrastructure investments • EU Recovery & Resilience Facility • NextGe
Slide 20: LEAN@PORR
LEAN@PORR GAIN ON EFFICIENCY LEAN LEAN Management Design & Engineering Mindset Planning Reliability … understand the value … efficient project chain, streamline the planning in coordination process with contractors 19 >2.000 areas with completed LEAN Thinker >130 LEAN Leaders C+ / Prime Segment LEAN
Slide 21: Lean Logistics for Industrial Construction
LEAN LOGISTICS FOR INDUSTRIAL CONSTRUCTION USP FOR TOP-END CLIENTS ▪ Tight urban space conditions call for the development centralised logistics across all trades Tasks ▪ Separation of value creation & logistic activities ▪ Logistics team providing materials for skilled workers directly on-site & on
Slide 22: Results of PORR 2025 at a Glance
RESULTS OF PORR 2025 AT A GLANCE Operating data in EUR m 2024 Change 2021 Production output1 6,747 17.8% 5,727 Revenue 6,190.5 19.7% 5,169.8 EBIT 158.4 66.3% 95.2 EBT 145.1 69.9% 85.4 Share price Profit 108.9 77.3% 61.4 Earnings per share (in EUR) 2.32 96.5% 1.18 +93% Financial Position indicators i
Slide 23: Bottom Line Impacts
BOTTOM LINE IMPACTS COST CONTROL AND RISK MANAGEMENT TO ENHANCE OPERATIONS EBIT margin (in %) Peer Group Average: 3.5% - 4.0% 3.7% 2.8 - 3.0% 2.6% 1.8% Improvements: - Markets & products - Lean construction - Cost control - Risk management 2021 2022 2023 2024 2025 2030 Peer Group Average Source: Del
Slide 24: Cost Control
COST CONTROL RENEWED FOCUS ON DISCIPLINE Overhead cost in % of revenue 8.2% Group-wide Absolute reductions programme for of EUR 41m 7.6% cost control 6.7% 2024: Cost increase through inflation & staff expense 2020 2022 2024 2030 Limberg III Salzburg, Austria Investor Presentation 21.08.2025 I Page 2
Slide 25: Risk Management with Project Diversification
RISK MANAGEMENT WITH PROJECT DIVERSIFICATION GATE SYSTEM FOR OPTIMAL CONTROL Gate System for large-scale projects (EUR >20m) Number of projects per Share of production output project volume (#)1 per volume class (in %) Acquisition >100m 45 26% 2 milestones 50-100m 85 18% 20-50m 175 18% Construction
Slide 26: Sound Financial Profile
SOUND FINANCIAL PROFIL EQUITY IMPROVEMENT THROUGH RETAINED EARNINGS Equity (in EUR m) 2025 ▪ Further reduction of hybrid capital by EUR 46.5m in February 894 ▪ Pro-forma share of hybrid capital in % of total 824 848 212 equity at 19.5% as per 31.12.2024 165 300 20-25% Until 2030: 20-25% equity ratio
Slide 27: Facts & Figures HY Results 2025
2 FACTS & FIGURES HY Results 2025 Investor Presentation 21.08.2025 I Page 27
Slide 28: HY/25 at a Glance
HY/25 AT A GLANCE 1 Strong momentum in construction PL & CEE in full swing 4 Strong cash position Seasonal net debt increase 2 5 Successful expansion of All-time high in order book (+10.0%) international investor base +25% in order intake Sale of 4.3% treasury shares 3 6 Outlook confirmed Earnings d
Slide 29: Construction Market with an Upward Trend
CONSTRUCTION MARKET WITH AN UPWARD TREND CIVIL ENGINEERING AS MOST IMPORTANT GROWTH DRIVER Annual growth rates in Euroconstruct-19 Annual growth rates in CEE 4.8% 4.4% 2.3% 2.8% 2.0% 0.3% 2025e 2026e 2027e 2025e 2026e 2027e Residential construction Civil engineering Residential construction Civil en
Slide 30: Backlog with Tailwinds
BACKLOG WITH TAILWINDS NEW ORDERS ALREADY FOR 2026 Order backlog (in EUR m) 8,995 9,421 8,049 8,564 61% 55% 27% 27% 13% 8% 5% 5% C+ / Prime Segment HY/22 HY/23 Top 10 % der HY/25 HY/24 Branche Miscellaneous Residential Non-residential Civil engineering ▪ New all-time high in order backlog ▪ +10.0% m
Slide 31: Major Order Intakes
MAJOR ORDER INTAKES IMPROVEMENT IN RESIDENTIAL Order intake (in EUR m) 3,808 4,049 3,228 3,046 39% 18% 54% 14% 10% 17% 10% 3% 13% 10% 0% 11% C+ / Prime Segment HY/2022 HY/2023 HY/2024 Top 10 % derHY/2025 Branche Holding Infra CEE PL DE AT / CH ▪ +17.7% in civil engineering coming out at 61% of total
Slide 32: Top Order Intakes 2024/25
TOP ORDER INTAKES 2024/25 Civil engineering Other Non-residential construction Residential construction Q3/24 Q4/24 Q1/25 Q2/25 • TB1 - Tramway Bucharest • D0, Bechovice – D1 • GIG - Community school • Design & Build Railway Lot 1 motorway Insel Gartenfeld Craiova - Caransebeș Bucharest / RO / 143.9
Slide 33: Long-Term Growth
LONG-TERM GROWTH SOLID OUTPUT LEVEL Production output per segment (in EUR m) 3,017 3,116 3,171 2,766 43% 55% 51% 25% 14% 14% 11% 13% 14% 9% 9% 4% 9% 1% 9%8% HY/22 HY/23 HY/24 HY/25 Holding Infra CEE PL DE AT / CH ▪ Continuous growth: all-time high output with ▪ Strong increase in infrastructure and
Slide 34: EBIT on the Rise
EBIT ON THE RISE TARGET 2025: 2.8-3.0% EBIT (in EUR m) EBIT (in % of revenue) 48.7 42.2 32.0 34.1 1.6% 1.5% 1.2% 1.2% HY/22 HY/23 HY/24 HY/25 ▪ Strong performance in AT & PL ▪ CEE slightly reduced due to ramp-up of new projects ▪ EPS at EUR 0.53 (+17.8%) Sibiu – Pitești highway Romania Investor Pres
Slide 35: Seasonal Cash Flow from Operations
SEASONAL CASH FLOW FROM OPERATIONS IMPROVEMENT IN NET DEBT Cash flow from operations (in EUR m) Net debt (in EUR m) 327 One-off 301 effects: 375 IFRS 16 long-term 287 276 EUR 26m office rentals: EUR 243m 275 -104 -85 -67 -101 EUR 239m 2 2022 2023 2024 2025 -40 Half-year Full-year 2023 HY/24 2024 HY/
Slide 36: Stable Equity
STABLE EQUITY DESPITE HYBRID REDEMPTION Equity (in EUR m) and equity ratio (in %) 894 860 855 Hybrid 811 24% share: 18% 29% 25% 21.1% 20.8% 20.0% 19.4% C+ / Prime Segment Top 10 % der Branche 2023 HY/24 2024 HY/25 ▪ Successful sale of treasury shares, with oversubscribed book by international invest
Slide 37: Outlook
OUTLOOK Moderate growth in output and revenue EBIT margin 2.8% – 3.0% 2030 EBIT margin 3.5% - 4.0% Investor Presentation 21.08.2025 I Page 37
Slide 38: Strategy Green and Lean
3 Strategy Green and Lean Investor Presentation 21.08.2025 I Page 38
Slide 39: ESG Ratings
ESG RATINGS BEST IN CLASS Gold B C+ AA Top 3% Climate Change & Water Prime Segment Best in industry of construction industry Investor Presentation 21.08.2025 I Page 39
Slide 40: Decarbonisation Plan
DECARBONISATION PLAN COMMITTED TO SCIENCE-BASED TARGETS INITIATIVE Alternative fuels & electrification Energy transition with green electricity Climate-friendly properties Optimised mixing Waste avoidance, Lower-emission Targets until 2030 processes reduction, materials & recycling transport -43% -2
Slide 41: ESG in Numbers
ESG IN NUMBERS SELECTED KPIS & 2030 TARGETS Decarbonisation Circular economy Habitats GHG Emissions Scope 1&2 (in t CO2e) Internal recycling input rate (in %) Water intensity ratio (in m³/TEUR) 224,054 70.0% 0.1 127,711 51.1% 0.04 2024 2030 2024 2030 2024 2030 Employee satisfaction Occupational safe
Slide 42: Total & General Contractor
TOTAL & GENERAL CONTRACTOR ONE-STOP SHOP CONSTRUCTION VALUE CHAIN Investor Presentation 21.08.2025 I Page 42
Slide 43: Building on PORR – Growing with PORR
BUILDING ON PORR – GROWING WITH PORR PORR AS AN EMPLOYER Unique International Reliability. Shoulder to Shoulder. We are active across Europe and Appreciation. Passion. Pioneering Spirit. internationally, with staff from more than Our five principles connect us. 80 countries. Leader in technology POR
Slide 44: Robotics@PORR
ROBOTICS@PORR VALUE ADDED THROUGH DIGITALISATION First point of contact Processes & services for prototyping & for using robotics on its testing robotics own construction sites solutions Marking robot Marking robot Marking robot for building construction for civil engineering for civil engineering E
Slide 45: Special Surveying & Modeling
SPECIAL SURVEYING & MODELING Drone & laser scanning, mobile mapping Result: digital point cloud Mobile mapping: Surface surveying at a speed of 80 km/h Further targets: Laser scanning: digital transformation in 20 seconds per scan building construction Investor Presentation 21.08.2025 I Page 45
Slide 46: Financial Performance HY/2025
4 Financial Performance HY/2025 The figures have been rounded off using the compensated summation method. Absolute changes are calculated using the rounded values, relative changes (in percent) are derived from the non-rounded values. Investor Presentation 21.08.2025 I Page 46
Slide 47: Segment Reporting
SEGMENT REPORTING RESILIENT ORDER BOOK IN HY/2025 AT / CH DE PL CEE INFRA Order backlog Change in % in EUR m 2,778 1,891 1,797 1,301 1,508 -19.4% +44.9% +19.3% +83.0% -2.1% Order intake Change in % in EUR m 1,595 730 564 698 452 -13.5% +72.9% -2.6% > +100.0% > +100.0% ▪ BMW production hall ▪ Data Ce
Slide 48: Earnings and Revenue HY/2025 per Segment
EARNINGS AND REVENUE HY/2025 PER SEGMENT IN EUR M INFRA PL DE Revenue EBIT Revenue EBIT Revenue EBIT 233 0.7 399 11.0 817 4.2 +48% < -100% -14% +34% +79% +59% CEE* Revenue EBIT AT / CH 303 5.5 Revenue EBIT -22% -51% 1,176 43.9 -15% +29% * Containing country responsibility for Czech Republic, Slovaki
Slide 49: Key Financials
KEY FINANCIALS AT A GLANCE Operating data in EUR m HY/2025 Change HY/2024 2024 Revenue 2,959.2 1.8% 2,907.8 6,190.5 EBIT 48.7 15.5% 42.2 158.4 EBT 38.8 11.7% 34.8 145.1 Profit 29.4 7.0% 27.5 108.9 Earnings per share (in EUR) 0.53 17.8% 0.45 2.32 Financial Position indicators in EUR m 30.06.2025 Chan
Slide 50: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT KEY RATIOS In EUR m HY/2025 Change HY/2024 2024 Revenue 2,959.2 1.8% 2,907.8 6,190.5 EBITDA 153.4 3.6% 148.1 368.8 in % of revenue 5.2% 0.1 PP 5.1% 6.0% EBIT 48.7 15.5% 42.2 158.4 in % of revenue 1.6% 0.2 PP 1.5% 2.6% EBT 38.8 11.7% 34.8 145.1 in % of revenue 1.3% 0.1 P
Slide 51: Stable Input Cost at a High Level
STABLE INPUT COST AT A HIGH LEVEL ABSOLUTE IN RELATED SERVICES Continuous cost levels PORR‘s cost ratios in % of revenue 160 115 Indexed by Dec.22 Indexed per Q4/22 110 140 27% 105 120 100 21% 100 45% 95 80 90 60 Dez.22 Jun.23 Dez.23 Jun.24 Dez.24 Jun.25 Dez.22 Jun.23 Dez.23 Jun.24 Dez.24 Jun.25 AT:
Slide 52: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION CONSOLIDATED Assets in EUR m 30.06.2025 Change 30.06.2024 31.12.2024 Intangible assets 225.0 4.7% 215.0 221.7 Property, plant and equipment 1,279.4 2.2% 1,251.9 1,269.2 Investment property 35.0 -7.8% 38.0 36.4 Shareholdings in companies accounted 92.1 12.7% 81.7 82.4
Slide 53: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION CONSOLIDATED Equity and Liabilities in EUR m 30.06.2025 Change 30.06.2024 31.12.2024 Share capital 39.3 - 39.3 39.3 Capital reserve 370.9 3.4% 358.8 358.8 Profit-participation rights/hybrid 157.8 -23.0% 204.8 211.8 capital Other reserves 256.7 42.0% 180.8 256.4 Non-co
Slide 54: Cash Flow Statement
CASH FLOW STATEMENT CONSOLIDATED Equity and Liabilities in EUR m HY/2025 Change HY/2024 2024 Profit 29.4 7.0% 27.5 108.9 Operating cash flow 138.9 21.7% 114.1 295.7 Cash flow from working capital -239.5 32.1% -181.3 78.8 Cash flow from operating activities -100.7 49.7% -67.3 374.5 Cash flow from inv
Slide 55: Strong Liquidity
STRONG LIQUIDITY NO MAJOR REFINANCING NEEDED Liquidity (in EUR m) Maturity profile of financial liabilities1 (in EUR m) 1,036 1,031 16 405 692 753 448 166 135 435 445 19 5 631 32 583 7 7 8 7 5 7 256 308 2025 2026 2027 2028 2029 >2029 2023 HY/24 2024 HY/25 Σ 7 15 7 37 5 189 Cash and cash equivalents
Slide 56: Global Share Base
GLOBAL SHARE BASE INCREASED FREE FLOAT Shareholder Distribution of structure free float 47.4% 9.5% Syndicate* 27.6% Austria 52.6% 8.1% Retail Free float** Germany 6.5% UK 11.6% Rest of Europe 17.9% Not directly assignable 1.6% 17.3% *Syndicate (Strauss Group, IGO Industries Group) **Free float (of w
Slide 57: Earnings per Share at Top Level
EARNINGS PER SHARE AT TOP LEVEL STRONG MOMENTUM Share price Earnings per share 3 20.2.2017 40 EUR 38.99* Oct. 2021 capital increase Earnings per share in EUR EUR 12.00 Share price in EUR 1,5 30 0 20 -1,5 10 1.1.2014 YOY 30.6.: EUR 9.98* +107% p.a. -3 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 20
Slide 58: Dividend
DIVIDEND FOCUS ON SHAREHOLDER VALUE Dividend per share (in EUR), Dividend yield (in %) 0.90 0.75 0.60 0.50 5.9% 5.1% 5.1% 3.6% C+ / Prime Segment Top 10 % der Branche 2021 2022 2023 2024 ▪ Payout ratio at 38.8% ▪ Total shareholder return of 45% in 2024 ▪ Continuous dividend policy of 30-50% payout r
Slide 59: Broker Coverage
BROKER COVERAGE ANALYST RECOMMENDATIONS Institution Analysts Price Target Recommendation Last Update Kepler Cheuvreux Elias New 25.00 Reduce 26.06.2025 ODDO BHF Austria Markus Remis 29.00 Neutral 23.06.2025 Montega Patrick Speck 36.0 Buy 11.06.2025 ERSTE Group Michael Marschallinger 34,20 Accumulate
Slide 60: Service – Investor Relations
SERVICE INVESTOR RELATIONS Share information IR Contact ISIN AT0000609607 Lisa Galuska Ticker POS VI +43 (0) 50 626-1765 No. of shares 39,278,250 ir@porr-group.com Market Vienna Stock Exch. / prime http://porr-group.com/en/ir Next events 18-Nov-25 Interest payment: Hybrid bond 2021 C+ / Prime Segmen
Slide 61: Half-Year Report 2025 Investor Presentation HY/25
Half-Year Report 2025 Investor Presentation HY/25