Porr Ag · VIE:POS
Porr — Q1 2017 Earnings Presentation
32 slides from Porr's earnings presentation, May 30, 2017
Slide 1: PORR AG Investor Presentation
Cover Update PORR AG FYQ3 2016 2016 Intelligent NEW Building... BUILDING 1H 2016 of PORR AG Investor Investor Presentation Presentation April 2017 2016 November Investor Presentation August 2016
Slide 2: Disclaimer
Disclaimer • This presentation was prepared by PORR AG (the "Company") solely for use at investors’ meetings and is provided solely for informational purposes. • This presentation dates from May 2017. The facts and information contained herein might be subject to revision in the future. Neither the
Slide 3: Highlights
01 Highlights Investor Presentation ● May 2017 ● Page 3
Slide 4: Sound Performance of Home Markets
Sound Performance of Home Markets +18.4% +10.9% Continued growth of Consistent increase production output in revenue 82% +7.3% of production output High order backlog of generated in strong EUR 5.5bn home markets Investor Presentation ● May 2017 ● Page 4
Slide 5: Solid Balance Sheet
Solid Balance Sheet Healthy Balance Sheet – High Liquidity Solid balance sheet facilitates flexibility in operations and investments EBT EUR -11m EUR 195m due to higher of Net debt investments Investor Presentation ● May 2017 ● Page 5
Slide 6: Key Figures Q1 2017
Key Figures Q1 2017 EUR m 31.03.2016 31.03.2017 Change2 Production output1 648.3 767.7 +18.4% Order intake 1,218.5 1,490.8 +22.4% Order backlog 5,149.4 5,527.2 +7.3% Revenue 598.3 663.3 +10.9% EBITDA 12.9 15.1 +16.7% ∆ in EUR m +2.2 EBIT -5.8 -8.2 -40.2% ∆ in EUR m -2.4 EBT -10.0 -11.0 -10.2% ∆ in E
Slide 7: Markets & Strategy
02 Markets & Strategy Investor Presentation ● May 2017 ● Page 7
Slide 8: PORR Construction Markets Show Stable Growth Prospects
PORR Construction Markets Show Stable Growth Prospects Market Volume & Approach EUR 1,471bn Home markets Total construction • Well-established with a strong profile in the home markets volume in Europe • Detailed knowledge of the market, competitors and clients • Full service provider on these marke
Slide 9: Overview of Construction Markets
Overview of Construction Markets Order intake of construction sector (Europe) Order intake of main construction trades (Germany) Europe: Order intake (EU survey) Europe: 12 months moving weighted average Order intake main construction trades Order intake civil engineering Order intake housing Order
Slide 10: PORR Strategy - Unchanged
PORR Strategy - Unchanged Intelligent Growth Leading role in home markets Profitable 3% Not the biggest, project markets sustainable but the best Promising EBT margin target markets Focus on earnings Strict cost & risk Strong capital base instead on output management Leading role in Excellent Best p
Slide 11: Efficient Organisation with Powerful Business Units
Efficient Organisation with Powerful Business Units Investor Presentation ● May 2017 ● Page 11
Slide 12: Germany: The Market of the Future
Germany: The Market of the Future M&A Activities in Germany PORR in Germany: FY 16: Q1 17: • Production output EUR m 802 184 • Order backlog EUR m 1,350 1,627 • Order intake EUR m 858 460 • Brand name “Frankipfahl” • North German Market • Special competencies facilitate business expansion • Civil en
Slide 13: Germany: The Market of the Future
Germany: The Market of the Future • Clear growth strategy - Organic growth and small acquisitions • General contractor and design-build services for German industry • Benefiting from the German infrastructure refurbishment boom Investor Presentation ● May 2017 ● Page 13
Slide 14: M&A Activities since 2012
17 M&A Activities since 2012* Control and steering mechanisms Additional shares in mixing plants in Austria Hinteregger * Grund- Pfahl und Sonderbau Geotechnik Bilfinger Infrastructure PWW Holding Systems (PORR Polska Infrastructure) 2012 2013 2014 2015 2016 2017 UBM Realitätenentwicklung bpp Bautec
Slide 15: Issue of the Future: Digitalisation
Issue of the Future: Digitalisation PORR Mobile Device Offensive starts: First steps in Every employee is digitalising the For the first time equipped with an value chain and PORR uses BIM in iPhone and creating a basis for construction selectively with far-reaching digital project planning iPads pr
Slide 16: Market Situation after Digitalisation of Construction Industry
Market Situation after Digitalisation of Construction Industry Control and steering mechanisms Investor Presentation ● May 2017 ● Page 16
Slide 17: Stable Shareholder Structure: Syndicate 53.7%
Stable Shareholder Structure: Syndicate 53.7% Investor Presentation ● May 2017 ● Page 17
Slide 18: Operational Performance
03 Operational Performance Investor Presentation ● May 2017 ● Page 18
Slide 19: Increased Production Output and Strong Order Intake
Increased Production Output and Strong Order Intake …% share of production output1 Business Units* 1 A/CH/CZ 45% 2 Germany 15% 3 International 32% 4 Environmental 7% Engineering, Health- care & Services 729 621 347 381 402 301 246 268 214 79 117 124 42 50 64 35 Output Intake Output Intake Output Int
Slide 20: Outstanding Order Backlog: Increase of 7.3%
Outstanding Order Backlog: Increase of 7.3% Order backlog and TOP 15 projects in Q1 2017 Selected projects Country EUR m1 Entry POC Metro Doha "Green Line" QA 944 Jun-13 74.1% Bratislava road D4-R7 SK 300 Jun-16 2.4% KAT 3 Koralm Tunnel AT 297 Jun-13 45.7% "Stuttgart 21" Filder Tunnel DE 266 Jul-11
Slide 21: Order Intake With a Balanced Project Size
Order Intake With a Balanced Project Size Order intake and TOP 12 projects in Q1 2017 Selected projects Country EUR m1 Entry Reconstruction track LK 354 Poznań–Piła PL 113 Feb-17 Metro U5 Europaviertel, Frankfurt DE 104 Feb-17 Order intake in EUR m Motorway D3 Cadca-Bukov-Svrcincovec SK 74 Feb-17 E1
Slide 22: Financial Section
04 Financial Section Investor Presentation ● May 2017 ● Page 22
Slide 23: Consolidated Income Statement
Consolidated Income Statement in EUR thousand 31.12.2015 31.12.2016 31.03.2016 31.03.2017 ∆% Production output1 3,523,752 3,925,339 648,322 767,701 +18.4% Revenue 3,139,687 3,417,100 598,258 663,295 +10.9% Share of p/l of companies accounted 46,233 46,252 5,302 5,641 +6.4% for under the equity metho
Slide 24: Statement of Financial Position
Statement of Financial Position in EUR thousand 31.12.2015 31.12.2016 31.03.2017 Non-current 715,871 799,689 885,314 assets Assets Current assets 1,588,126 1,560,775 1,436,732 Total assets 2,303,997 2,360,464 2,322,046 Equity (incl. 412,118 440,872 557,880 non- controlling interests) Liabi- Non-curr
Slide 25: Key Takeaways
05 Key Takeaways Investor Presentation ● May 2017 ● Page 25
Slide 26: Consistent Key Strategic Priorities
Consistent Key Strategic Priorities 1 Continued focus on home markets Strong home base supported by technological excellence 2 Growth opportunities in export products New project markets, e.g. Scandinavia, in tunnelling, bridge construction, Slab Track and foundation engineering Creating value throu
Slide 27: Backup
06 Backup Investor Presentation ● May 2017 ● Page 27
Slide 28: PORR Diversity-Initiative Started in 2016
PORR Diversity-Initiative Started in 2016 Equal opportunities across all organisational levels and countries Work&Life@PORR • Flexible models of working hours and leave • Caring for families and the elderly Women@PORR • Promotion of women (special training) PORR Academy • Additional attractive train
Slide 29: Comprehensive Control and Steering Mechanisms Established
Comprehensive Control and Steering Mechanisms Established Control and steering mechanisms Investor Presentation ● May 2017 ● Page 29
Slide 30: Overview Extraordinary Costs FY 2016
Overview Extraordinary Costs FY 2016 Healthy Balance Sheet – High Liquidity Costs for digitalisation: EUR 11.9 m - e.g.: BIM, iTwo, - Apps like Defect Radar App, Weather App ~ EUR 14 m Costs for integration Costs for the new processes: EUR 2.0 m „working world“: EUR 0,4 m - e.g.: coordination of the
Slide 31: Sustainable Dividend Policy
Sustainable Dividend Policy Dividends Dividends per share1 (in EUR) 0.50 1.10 1.00 0.75 0.50 0.16 2012 2013 2014 2015 2016 Dividend 1.66% 4.00%2 3.37%2 5.37%3 2.83% yield 1 Adjusted to share split 2015 to allow better comparison 2 Restated excl. discontinued operations 3 Dividend yield including scr
Slide 32: IR Information for PORR AG
IR Information for PORR AG Share Information Financial Calendar 2017 1 Share price EUR 31.25 25.04.2017 Annual Financial Report 2016 25.04.2017 Press conference Market capitalisation EUR 909.2m 23.05.2017 137th Annual General Meeting Official market Vienna Stock Exchange 30.05.2017 Q1 2017 Prime Mar