FAQ

The PORR Group is one of the largest construction companies in Austria and a leader in Europe, with around 15,000 staff and production output of some EUR 3.5bn (2015). With numerous offices on its home, project and target markets in Europe and in Qatar, it is involved in realising important and technically sophisticated construction projects.

The PORR Group focuses on its core competency, the construction business. This is why, in 2014, PORR steadily spun off its development activities, which had previously been bundled in Strauss & Partner, and transferred them into a dedicated, listed company following the takeover of UBM. PORR’s services range from residential construction through to complex infrastructure projects in every area of the building industry: from building construction and civil engineering to energy construction, traffic and tunnel construction through to environmental engineering. 

Home markets: PORR offers its full range of services on the home markets. In Austria the PORR Group intends to consolidate its leading market position and grow in niche areas; in Germany the Group is pursuing further targeted growth. Selective expansion is also planned in Switzerland, Poland and particularly in the Czech Republic.

Project markets: PORR operates selectively in Slovakia, Romania, Bulgaria, Norway, Qatar and the UK through its export products, primarily in tunnelling, railway construction and civil engineering (special and large-scale projects). In addition, the “follow-your-customer” principle also leads to the realisation of projects for longstanding industrial clients.

Target markets: At present PORR has defined the two Scandinavian countries of Sweden and Denmark as possible target markets.

PORR is committed to its strategy of “intelligent growth” – a sustainable and longterm increase in production output and earnings, whereby earnings always take priority over output. Here PORR distinguishes between permanent and project markets. The differing requirements of permanent versus project-driven business are accommodated through its organisational structure: the business units are divided based on focal points. Austria, the Czech Republic and parts of Switzerland have been identified as permanent markets, while PORR pursues a project-driven approach on all other markets.

PORR offers its clients everything from a single source and guarantees professional processes from design and planning through to handover, at the same time as the high profitability of the projects. Furthermore, the PORR Group pursues a corporate policy focused on sustainable growth, embracing its special responsibility to shareholders. Many years of in-depth knowledge in highly complex, sophisticated construction projects, a passion for innovation, and the willingness to keep on learning and keep on improving are the qualities that make PORR stand out. National and international partnerships also secure the company’s competitive edge.

An average of around 13,900 staff members were employed across the Group in 2015, of which around 40% were salaried employees and 60% were waged workers.

The construction industry is influenced by multiple internal and external factors. The construction sector is cyclical, i.e. it is tied to the state of the economy. External factors such as economic growth (GDP), the household situation, demographic trends, urbanisation and the financing backdrop are given as an example. These factors influence the establishment of various economic programmes with public-sector investment in infrastructure and residential construction. At the end of the day, the construction industry benefits from this. Furthermore, production output in the construction sector is seasonal and is strongly influenced by weather conditions.
A powerful market position, a critical company size and strong financing power are also decisive factors in the construction business. It is only when all of these are in place that construction companies are able to survive the fierce competition on prices and acquire large-scale tenders. Other aspects include access to raw materials, an effective risk management system and highly qualified and dedicated employees.

The consolidated financial statements are prepared pursuant to Section 245a of the Austrian Commercial Code (UGB) in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and endorsed by the European Union and in accordance with the interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC).

The interim financial statements on the first half-year are prepared pursuant to IAS 34; the interim financial statements on the first and third quarter are prepared pursuant to the rules of the Vienna Stock Exchange in line with IAS 34.

The reporting currency is the Euro, which is also the functional currency of PORR AG and of the majority of the subsidiaries included in the consolidated financial statements.

As opposed to the gross revenues reported in the consolidated income statement, the output of consortiums involving a PORR AG subsidiary on the one hand and the output of all Group companies on the other hand – regardless of their form of inclusion in the consolidated accounts (fully consolidated, equity method, proportionate or those of minor significance) – are included proportionately in the calculation of production out-put.

In line with the strategy and depending on the level of the annual surplus, the payout ratio is between 30% and 50%. The payout ratio indicates the percentage of the annual surplus paid out to shareholders under inclusion of non-controlling interests.

The PORR share is one of the oldest listings on the Vienna Stock Exchange, where it has been listed since 8 April 1869. Following a successful capital increase in 2014, along with measures to improve liquidity and enhance investor relations activities, the PORR share moved to the Prime Market of the Vienna Stock Exchange on 22 December 2014. The company thereby fulfils the most stringent transparency requirements and is clearly committed to the Austrian Code of Corporate Governance.

Following the 1:2 share split at the end of June 2015 there are 29,095,000 ordinary shares in issue with the ISIN AT0000609607.

The largest percentage of shares in issue – almost 54% – is held by a syndicate consisting of the Ortner Group and the Strauss Group. The other shares have a broad international dispersion. The majority are held by institutional investors – alongside Austria, they are primarily from Anglo-Saxon countries as well as Switzerland and Germany. 

PORR is currently covered by nine brokers: HSBC, ERSTE Group, Berenberg, Hauck & Aufhäuser Baader, Raiffeisen Centrobank, Kepler Chevreux, SRC Research and Steubing.

You are welcome to sign up for our IR mailing list, from which we regularly send out news on PORR by email. Register at IR•@•porr-group.com.

Please understand that for reasons of sustainability and environmental protection we now only print a limited number of Annual Reports. You are welcome to order one by email at IR•@•porr-group.com. We no longer print copies of the interim reports.

The best way to get in touch is by email at IR•@•porr-group.com. Otherwise you can reach us by tele-phone +43 (0)50 626-1009 during normal business hours (MO–FR 8am–5pm).

PORR has embraced its responsibility towards people and the environment for decades and proactively makes a positive contribution to society. CSR is an integral component of our corporate philosophy – regardless of whether it applies to our customers, employees, shareholders, partners or the environment.

Social, ethical and ecological standards are incorporated into every decision at PORR and are subjected to an ongoing development process. This ensures that all of PORR’s CSR standards address the changing needs of society. CSR at PORR rests on the three pillars of recognising value, preserving value and adding value. The efforts PORR has made in the area of CSR reflect its commitment to numerous activities, projects and programmes with the goal of achieving ongoing improvements in the fields of society, ecology and economy.

With regard to the environment, PORR is certified to the norm ISO 14001:2004 (environmental management) and is committed to its consistent implementation throughout the entire Group. Adherence to the environmental stipulations is regularly assessed through audits by an independent body.
In addition, with the goal of continuously improving, every company division systematically records any environmental impacts and proposes and implements improvements. Additional certification covers the field of occupational health and safety management (OHSAS 18001:2007) and quality management (ISO 9001:2008)

to the CSR-Report

PORR has introduced a Code of Ethics that underpins all corporate activities and decisions within the company. It forms the basis for the moral, ethical and legally irreproachable behaviour of every staff member and strives to prevent mistakes and encourage the values and principles contained within. Upholding these values and principles applies to every staff member at PORR, regardless of his/her work contract, position or location. This code also states that PORR fights against every form of corruption, bribery or acceptance of gifts. It is strictly forbidden for any staff member to offer or accept, directly or indirectly, any form of benefit if this could have an improper influence on the business transaction or even if it could create the impression of improper influence.