Slide 1: Home of Construction: Conference Call Presentation FY Results 2023
HOME OF CONSTRUCTION Conference Call Presentation: FY Results 2023 March 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: 2023 at a Glance
2023 AT A GLANCE 1 Positive market outlook Steady increase in order intake 4 Optimised equity 20.8% equity ratio (+1.5 PP) 2 5 Strong order book Enhanced working High demand in infrastructure and capital management industrial construction Receivables significantly reduced 3 Earnings increase at ever
Slide 4: Positive Market Outlook, Steady Increase in Order Intake
POSITIVE MARKET OUTLOOK STEADY INCREASE IN ORDER INTAKE Rebound in European construction in 2025 PORR‘s order intake (in EURm) 2.5% 2.5% CAGR: +5.0% 2.3% 1.7% 1.6% 6,414 6,659 6,835 Annual growth rates 1.5% 1.3% 1.4% 0.9% 5,905 0.0% 59% 52% 30% 24% -2.1% 7% 6% 12% 11% -5.4% 2024e 2025e 2026e 2020 20
Slide 5: Top Order Intakes 2023
TOP ORDER INTAKES 2023 Civil engineering Other Non-residential construction Residential construction Q1 Q2 Q3 Q4 ams-Osram fabric halls Arge H53 Brenner Pumped storage Elisabeth-Selbert-Haus Premstätten / AT / 49.5m Base Tunnel power plant office building AT / 479.6m Ebensee / AT / 167.0m Berlin / D
Slide 6: Strong Order Book
STRONG ORDER BOOK Order backlog (in EUR m) CAGR: +6.1% 8,204 8,452 7,764 7,067 58% 60% 24% 30% 5% 11% 4% 8% C+ / Prime Segment 2020 2021 Top 10 % der Branche 2022 2023 Miscellaneous Residential Non-residential Civil engineering ▪ Continued positive development in civil engineering and non-residentia
Slide 7: Earnings Increase at Every Level
EARNINGS INCREASE AT EVERY LEVEL REVENUE GROWTH AND EFFICIENT COST MANAGEMENT Production output per segment (in EUR m) EBT & EBIT (in EUR m) EBT (in % of output), EBIT (in % of revenue) CAGR: +8.2% 6,577 130.7 140.3 6,226 110.0 120.1 5,727 85.4 95.2 5,185 2.0% 2.3% 51% 1.5% 1.8% 1.8% 2.1% 52% 15% -1
Slide 8: Efficient Cost Control
EFFICIENT COST CONTROL SUCCESSFULL PROCUREMENT MANAGEMENT Cost indices stablising on high levels PORR‘s cost ratios in % of revenue 108 Indexed per 2021 130 47% 120 100 24% 110 21% 93 100 90 85 Dez.21 Jun.22 Dez.22 Jun.23 Dez.23 Dez.21 Jun.22 Dez.22 Jun.23 Dez.23 AT: Road construction AT: Residentia
Slide 9: Balance Sheet Structure
BALANCE SHEET STRUCTURE OPTIMISED EQUITY, REDUCTION IN HYBRID CAPITAL Equity (in EUR m) Hybrid capital (nominal value in EUR m) 860 824 799 240 Hybrid share: 29% 200 651 154 20.8% 135 20.3% 19.3% 18.0% 2020 2021 2022 2023 2023 2024 2025 2026 ▪ Equtiy ratio in target range of 20-25% ▪ Refinancing of
Slide 10: Working Capital Management on Point
WORKING CAPITAL MANAGEMENT ON POINT NET CASH POSITION MAINTAINED Net debt (-) / Net cash (+) (in EUR m) Working Capital (in EUR m) 65 59 40 202 Net cash position 91 15 9 -135 2020 2021 2022 2023 2020 2021 2022 2023 ▪ Stable net cash position of last 3 years ▪ Consequent working capital management ▪
Slide 11: High Liquidity Cushion
HIGH LIQUIDITY CUSHION PROVIDING SECURITY IN VOLATILE MARKET ENVIRONMENT Liquidity (in EUR m) Maturity profile (in EUR m) 1,008 1,037 5 949 862 203 293 405 240 83 9 805 32 10 622 656 632 4 3 28 11 6 6 4 4 7 2024 2025 2026 2027 2028 >2029 2020 2021 2022 2023 Σ 13 6 45 3 116 28 Cash and cash equivalen
Slide 12: All-Time High in Earnings per Share
ALL-TIME HIGH IN EARNINGS PER SHARE UPLIFT POTENTIAL FOR SHARE PRICE Share price Earnings per share 20.2.2017 40 EUR 38.99* Analyst‘s recommendation: 3,00 7x BUY Earnings per share in EUR 30 1,50 Share price in EUR 20 0,00 10 -1,50 1.1.2014 18.3.2024 EUR 9.98* EUR 13.10 0 -3,00 2014 2015 2016 2017 2
Slide 13: Dividend Proposal
DIVIDEND PROPOSAL SHARPENED PROFILE Dividend per share (in EUR), Dividend yield (in %) 0.75* 0.60 0.50 5.9% 5.1% 3.6% 0.0% 0.00 2020 2021 2022 2023 ▪ +25% dividend payment ▪ Payout ratio at 33.9% ▪ Continuous dividend policy of 30-50% payout ratio * Proposal to the AGM Investor presentation: FY Resu
Slide 14: Outlook 2024
OUTLOOK 2024 RESILIENCE. Strong oder book Moderate increase in output Improvement in earnings Investor presentation: FY Results 2023 20.03.2024 I 14 21.03.2024