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Ad hoc announcement

PORR AG: Preliminary results 2013 – EBT doubles, significant reduction in net debt

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN.
 
(Vienna, March 24th 2014) On the basis of preliminary figures, PORR AG believes it has achieved excellent results for 2013. EBITDA has been estimated at EUR 154.7m, an increase of almost 49% or EUR 50.9m against 2012. EBIT is expected to amount to EUR 88.0m, following on from EUR 53.8m in the same period in 2012 – an increase of more than 60%. EBT is likely to reach EUR 60.5m, which is far more than double the previous year (2012: EUR 22.0m).
 
This pleasing result is primarily due to the consistent implementation of the corporate strategy of concentrating on the home markets with a secure credit rating – Austria, Germany, Switzerland, Poland and the Czech Republic – as well as on high-margin international projects such as building the Green Line of the Doha metro in Qatar.
 
In addition, the planned reduction in non-operational real estate and the optimisation of working capital has led to a significant drop in net debt from EUR 586.5m at December 31st 2012 to just EUR 357.5m at December 31st 2013.
 
On the basis of these (preliminary) results, the Executive Board will propose to the Supervisory Board and the Annual General Meeting that dividends are increased to EUR 1 per share (2012: EUR 0.3125 per share).
 
PORR AG will announce the final figures for the 2013 business year on April 9th 2014.
 
Furthermore, PORR AG is evaluating options for strengthening its capital base and negotiations with international investment banks are currently underway.
 
This ad-hoc release does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada or Japan or in any jurisdiction in which such offer or solicitation is unlawful. This document must not be used for such offer or marketing activities. If a public offer is made in Austria, a prospectus prepared in accordance with the provisions of the Austrian Capital Markets Act (Kapitalmarktgesetz) will be published.
The securities referred to herein may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the "Securities Act"), or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of securities in the United States.
This ad-hoc release is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons are referred to herein as "relevant persons"). This ad-hoc release is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this ad-hoc release or any of its contents. Any investment or investment activity to which this ad-hoc release relates is available only to relevant persons and will be engaged in only with relevant persons.

Ad-hoc announcement