Porr Ag · VIE:POS
Porr — Q1 2025 Earnings Presentation
60 slides from Porr's earnings presentation, May 22, 2025
Slide 1: Investor Presentation: Q1 Results 2025
V4 Investor Unternehmenspräsentation Presentation Q1 März Results 2024 2025, May 2025
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: PORR Next Level
1 PORR Next Level Investor Presentation: Q1 Results 2025 22.05.2025 I Page 3
Slide 4: 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 per 31.12.2024 Investor Presentation: Q1 Results 2025 22.05.2025 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 O R N O PERATION Investor Presentation: Q1 Results 2025 22.05.2025 I Page 5
Slide 6: Highlights out of the order book
HIGHLIGHTS OUT OF THE ORDER BOOK FINISHED & ONGOING PROJECTS Building construction Energy transition Bridge construction Tunnelling KinderKunstLabor, AT Suedlink ElbX, DE Salzbachtal bridge, DE U2 17-21, AT Hydro engineering Specialist civil engineering Industrial construction Port of Constanta, RO
Slide 7: 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 8: Focus on intelligent growth with Green and Lean
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 9: Construction in Germany
CONSTRUCTION IN GERMANY DE HIGH PLANS FOR INFRASTRUCTURE EUR 500 bn EUR 50 bn of special funds in 12 years of Deutsche Bahn investments for climate, infrastructure & defense until 2027 for railway network Sources: Tageschau, Spiegel Investor Presentation: Q1 Results 2025 22.05.2025 I Page 9
Slide 10: Construction in CEE
CONSTRUCTION IN CEE FUNDING SECURED BY EUROPEAN UNION PL RO SK CZ EUR 19 bn within four years from the EUR 700m EUR 48 bn EUR 31.5 bn Recovery and Resilience Facility for the per year until 2029 until 2032 green transition & for healthcare infrastructure for railway infrastructure for airport infras
Slide 11: Construction in Austria
CONSTRUCTION IN AUSTRIA AT CIVIL ENGINEERING AS GROWTH DRIVER EUR 1.0 bn EUR 3.5 bn EUR 1.2 bn per year per year per year for residential construction for railway infrastructure for road infrastructure Sources: ÖBB, ASFINAG, Austrian Federal Ministry of Finance Investor Presentation: Q1 Results 2025
Slide 12: PORR in motion
PORR IN MOTION FURTHER GROWTH SECURED Growth 2025: 6.4% Healthcare Data centres Market to double until 2032 1 trillion euro for Energy DE PL Modular 4.3% European transition climate neutrality residential CAGR in CEE CZ SK AT CH 4.9% growth Investments 2025: EPC until 2027 Railways RO EUR >20 bn fro
Slide 13: 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 14: 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 15: 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 -0.8% Estimated CEE market OUR US
Slide 16: 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 Home market growth until 2027: 4.9% OUR USP: Long-term part
Slide 17: 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 18: 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 OUR USP: Design Slab Track & Bu
Slide 19: 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 20: 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 • ARGE U2 17-21, AT Market development Broad infrastructure investments • EU Recovery & Resilience Facility • NextGene
Slide 21: 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 22: 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 23: Cost control
COST CONTROL RENEWED FOCUS ON DISCIPLIN 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: Q1 Results 2025 22.
Slide 24: 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 25: 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 26: Sound financial profile
SOUND FINANCIAL PROFIL EQUITY IMPROVEMENT TROUGH 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% 165 300 20-25% Until 2030: 20-25% equity ratio 21.1% 21,4% ▪ Furt
Slide 27: Facts & Figures Q1 Results 2025
2 FACTS & FIGURES Q1 Results 2025 Investor Presentation: Q1 Results 2025 22.05.2025 I Page 27
Slide 28: Q1/25 at a glance
Q1/25 AT A GLANCE 1 4 Stable debt position Further positive impetus in PL and CEE Net debt and cash flow with German special funds announced one-off effects 2 Strong order book Promissing development in AT and CEE 5 High liquidity cushion Increase of equity ratio to 19.8% 3 6 Outlook confirmed Solid
Slide 29: Ongoing increase in construction market
ONGOING INCREASE IN CONSTRUCTION MARKET MOMENTUM FROM EU FUNDS AND INFRASTRUCTURE NEED Growth engine: Civil engineering 2025 investment programmes (in EUR bn) Annual growth rates in Annual growth rates in 3.8% Euroconstruct-19 3.5% Transport infrastructure & AT 4.9 residential construction CEE 1.8%
Slide 30: Strong order intakes
STRONG ORDER INTAKES UPLIFT FROM BUILDINGS Order intake (in EUR m) 1,539 1,429 1,278 1,311 56% 59% 9% 15% 5% 9% 10% 3% 17% 1% 13% 3% C+ / Prime Segment Q1/2022 Q1/2023 Q1/2024 Q1/2025 Top 10 % der Branche Holding Infra CEE PL DE AT / CH ▪ +62% increase in building construction ▪ Double-digit increas
Slide 31: Top order intakes 2024/25
TOP ORDER INTAKES 2024/25 Civil engineering Other Non-residential construction Residential construction Q2/24 Q3/24 Q4/24 Q1/25 • Data centre • TB1 - Tramway Bucharest • D0, Bechovice – D1 • GIG - Community school DE / n.a. Lot 1 motorway Insel Gartenfeld Bucharest / RO / 143.9m Prague / CZ / 194.2m
Slide 32: Full order books
FULL ORDER BOOKS VISIBILITY FOR > 1.25 YEARS Order backlog (in EUR m) 8,439 8,812 8,033 8,211 56% 57% 26% 30% 14% 8% 5% 6% C+ / Prime Segment Q1/2022 Q1/2023 Top 10 % derQ1/2025 Q1/2024 Branche Miscellaneous Residential Non-residential Civil engineering ▪ +4.4% increase in order book coming from nea
Slide 33: Solid output
SOLID OUTPUT NO CHANGE IN EXPECTATIONS Production output per segment (in EUR m) Double-digit increase in CEE and Infrastructure International, AT / CH with continuous 1,323 growth 1,271 1,270 1,161 Strong uplift in civil engineering coming from road construction 50% 55% 16% 14% 12% 14% 7% 7% 3% 12%
Slide 34: Improved performance
IMPROVED PERFORMANCE MARGIN GOAL 2025: 2.8-3.0% EBIT (in EUR m) EBIT (in % of revenue) 12.6 11.3 9.9 1.0% 6.0 0.9% 0.8% 0.5% Q1/22 Q1/23 Q1/24 Q1/25 ▪ +11.7 % on the bottom line: increase despite heavy seasonality ▪ Absolute reductions in materials and related production services of EUR 20.3m (1.0%
Slide 35: Seasonal increase in debt position
SEASONAL INCREASE IN DEBT POSITION ONE-OFF EFFECTS VISIBLE Gross debt (in EUR m) Net debt (in EUR m) 259 One-off 615 592 589 585 effects: 244 EUR 67m 253 241 240 107 192 2 2023 Q1/24 2024 Q1/25 -40 IFRS 16: Long-term rentals 2023 Q1/24 2024 Q1/25 ▪ Increase in gross debt as a result of seasonality ▪
Slide 36: Stable equity
STABLE EQUITY DESPITE HYBRID REDEMPTION Equity (in EUR m) and equity ratio (in %) 894 860 815 24% 834 29% 18% 25% 21.1% 20.8% 19.7% 19.8% C+ / Prime Segment Top 10 % der Branche 2023 Q1/24 2024 Q1/25 ▪ Hybrid redemption in February 2025 of EUR 46.5m ▪ Share buyback in Q1 with a value of EUR 9.7m ▪ A
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: Q1 Results 2025 22.05.2025 I Page 37
Slide 38: Strategy Green and Lean
3 Strategy Green and Lean Investor Presentation: Q1 Results 2025 22.05.2025 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: Q1 Results 2025 22.05.2025 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: PORR as an employer
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 43: 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 44: 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: Q1 Results 2025 22.05.20
Slide 45: Financial Performance Q1/2025
4 Financial Performance Q1/2025 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: Q1 Results 2025 22.05.2025 I Page 45
Slide 46: Segment reporting
SEGMENT REPORTING RESILIENT ORDER BOOK IN Q1/2025 AT /CH DE PL CEE INFRA Order backlog Change in % in EUR m 3,453 1,335 1,642 994 1,244 +4.4% +6.5% +18.0% +18.8% -21.6% Order intake Change in % in EUR m 901 233 161 196 40 +14.7% +81.1% -25.2% +46.7% -12.9% ▪ BMW production hall ▪ Data Centre FRA32 ▪
Slide 47: Earnings and revenue per segment
EARNINGS AND REVENUE FY/2024 PER SEGMENT IN EUR M INFRA PL DE Revenue EBIT Revenue EBIT Revenue EBIT 403 -17.0 941 20.3 965 14.0 +16.5% <-100% -7.7% +32.9% -1.7% >+100% CEE* Revenue EBIT AT / CH 805 26.4 Revenue EBIT +20.1% +70.1% 3,001 108.3 +2.5% +8.5% * Containing country responsibility for Czech
Slide 48: Key financials
KEY FINANCIALS AT A GLANCE Operating data in EUR m Q1/2025 Change Q1/2024 Q1/2023 Q1/2022 Revenue 1,264.8 -0.8% 1,275.6 1,266.3 1,110.8 EBIT 12.6 11.7% 11.3 9.9 6.0 EBT 7.0 -12.4% 8.0 4.5 0.5 Profit 5.0 -16.2% 6.0 2.6 0.3 Earnings per share (in EUR) 0.02 -33.3% 0.03 -0.05 -0.13 Financial Position in
Slide 49: Consolidated income statement
CONSOLIDATED INCOME STATEMENT KEY RATIOS In EUR m Q1/2025 Change Q1/2024 Q1/2023 Q1/2022 Revenue 1,264.8 -0.8% 1,275.6 1,266.3 1,110.8 EBITDA 64.8 7.7% 60.2 54.0 50.3 in % of revenue 5.1% 0.4 PP 4.7% 4.3% 4.5% EBIT 12.6 11.7% 11.3 9.9 6.0 in % of revenue 1.0% 0.1 PP 0.9% 0.8% 0.5% EBT 7.0 -12.4% 8.0
Slide 50: Continued stability in input cost
CONTINUED STABILITY IN INPUT COST ABSOLUTE REDUCTIONS IN MATERIALS AND RELATED SERVICES Stagnating cost levels PORR‘s cost ratios in % of revenue 160 115 29% Indexed by Dec.22 Indexed per Q4/22 110 140 105 120 100 100 47% 95 80 17% 90 60 Dez.22 Jun.23 Dez.23 Jun.24 Dez.24 Dez.22 Jun.23 Dez.23 Jun.24
Slide 51: Consolidated statement of financial position: assets
CONSOLIDATED STATEMENT OF FINANCIAL POSITION Assets in EUR m 31.03.2025 Change 31.03.2024 31.03.2023 31.03.2022 Intangible assets 223.3 19.7% 185.6 194.0 187.4 Property, plant and equipment 1,286.3 7.9% 1,192.3 1,083.4 1,040.5 Investment property 36.4 4.1% 35.0 34.4 25.0 Shareholdings in companies a
Slide 52: Consolidated statement of financial position: equity and liabilities
CONSOLIDATED STATEMENT OF FINANCIAL POSITION Equity and Liabilities in EUR m 31.03.2025 Change 31.03.2024 31.03.2023 31.03.2022 Share capital 39.3 - 39.3 39.3 39.3 Capital reserve 358.8 - 358.8 358.8 358.8 Profit-participation rights/hybrid 154.2 -23.1% 200.7 243.0 243.0 capital Other reserves 252.6
Slide 53: Consolidated cashflow statement
CONSOLIDATED CASHFLOW STATEMENT Equity and Liabilities in EUR m Q1/2025 Change Q1/2024 Q1/2023 Q1/2022 Profit 5.0 -16.2% 6.0 2.6 0.3 Operating cash flow 54.6 5.8% 51.6 46.3 45.2 Cash flow from working capital -166.4 >100.0% -72.2 -126.7 -127.4 Cash flow from operating activities -111.8 >100.0% -20.6
Slide 54: Strong liquidity
STRONG LIQUIDITY NO MAJOR REFINANCING NEEDED Liquidity (in EUR m) Maturity profile of financial liabilities1 (in EUR m) 1,033 1,031 884 5 801 405 448 405 83 135 446 19 9 10 32 32 11 628 583 7 7 7 5 18 478 355 2025 2026 2027 2028 2029 >2029 2023 Q1/24 2024 Q1/25 Σ 7 67 7 119 140 38 Cash and cash equi
Slide 55: Global share base
GLOBAL SHARE BASE STABLE CORE SHAREHOLDER Shareholder Distribution of structure free float 49.6% 18.4% Free float** 29.2% Austria 50.4% Retail Syndicate* 8.2% Germany 1.7% UK 15.6% 7.7% Not directly assignable Rest of Europe 1.7% 17.5% *Syndicate (Strauss Group, IGO Industries Group) **Free float (o
Slide 56: 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 YE24: EUR 9.98* EUR 17.74 +40% p.a. -3 0 2014 2015 2016 2017 2018 2019 2020 2021 202
Slide 57: 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 58: Broker coverage
BROKER COVERAGE ANALYST RECOMMENDATIONS Institution Analysts Price Target Recommendation Last Update ODDO BHF Austria Markus Remis 29.00 Neutral 11.04.2025 Montega Patrick Speck 30.00 Buy 08.04.2025 SRC Research Stefan Scharff 31.00 Buy 04.04.2025 Joh. Berenberg, Gossler & Co. KG Jenna Xu 37.50 Buy
Slide 59: Service: Investor Relations
SERVICE INVESTOR RELATIONS Share information ISIN AT0000609607 Ticker POS VI No. of shares 39,278,250 Next events Market Vienna Stock 21-Aug-25 Publication: Exch. / prime Half-Year Report 2025 18-Nov-25 Interest payment: Hybrid bond 2021 IR Contact Lisa Galuska 20-Nov-25 Publication: C+ / Prime Segm
Slide 60: Interim Report on the 1st Quarter 2025
Interim Report on the 1st Quarter 2025 Investor Presentation Q1/25