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Business model

The PORR Group is a European construction company with about 20,177 employees and a production output von about EUR 5.7 bn (2021) one of the largest Austrian construction companies and one of Europe‘s leading infrastructure specialists. On the seven stable home markets of Austria, Germany, Switzerland, Poland, Czech Republic, Slovakia and Romania — PORR generates around 95% of its production output. As the oldest listed company in Austria it has been traded on the Vienna Stock Exchange for more than 150 years. Today it is listed on the prime market segment.

PORR is and will remain a construction company. In Austria it is a leader in the construction sector. Europe-wide, it is one of the most important construction companies on the home markets of Germany, Switzerland, Poland, the Czech Republic, Slovakia and Romania. For more than 150 years, PORR has been successfully realising complex construction projects in building construction and civil engineering. As one of the few infrastructure specialists on the seven home markets, the company covers the entire value chain for infrastructure projects. The goal is to further expand its leading position as a design-build contractor in building construction and civil engineering. Moreover, PORR is a trailblazer in technology, increasingly applying connected, innovative solutions in both design and build and pro­actively developing and exploring the digital advances of the future.

PORR’s focus is on the seven European home markets Austria, Germany, Switzerland, Poland, the Czech Republic, Slovakia and Romania. Around 95% of total production output is generated on these markets. The entire range of services is offered here – from design and build to operations. In the project markets of Qatar, the United Arab Emirates (UAE) and Norway. PORR offers export products such as tunnelling, railway construction and civil engineering, and focuses on cooperation with local partners. If there is clear added value, these export products are also offered in other international markets as individual projects.

The PORR Group is a European construction company with leading positions in every area of the construction value chain. The focus remains on expanding the strong market position in Europe as well as  on selective, intelligent growth and technology. Here PORR combines sustainable management with its environmental and social responsibility. The primary goal remains to achieve a sustainable increase in  corporate value for every stakeholder.

PORR’s business activities are divided into the permanent business and the project business. The markets with permanent business are Austria, parts of the Czech Republic, Germany and Switzerland as well as Romania. In all other markets, PORR operates on a project basis and concentrates on the segments in which it can offer clear added value.

Our vision: PORR – Home of Construction. To build a Better World.

Our mission: We believe in a better world, a home facilitated by sustainable buildings. Those who build change the world. For more than 150 years, standing at the forefront of the construction industry with new technologies has been in our DNA.

Our goal is to shape the environment sustainably, while driving innovation and growth. And with it a world worth living in for everyone – today and tomorrow.

This allows us to offer holistic construction solutions from a single source – from design to construction to operations, in building construction, civil engineering and infrastructure. Innovation, expertise and reliability – Powered by PORR

An average of around 20,177 staff members were employed across the Group in 2021.

The following megatrends are shaping the future of the construction industry:

  • Urbanisation: The number of people living in urban areas in Europe will grow by 80% by 2050.
  • Mobility: The EU has set a target of reducing CO2 emissions by 55% by 2030.
  • Sustainability: EUR 1.8 trillion will be invested under the European Green Deal.
  • Digitalisation: The market for Building Information Modelling (BIM) is worth EUR 2.1 bn.
  • Health: The proportion of people over 65 will increase by 48% by 2050. 

Financials

The consolidated financial statements are prepared pursuant to Art. 245a of the Austrian Commercial Code 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 consolidated financial statements on the first half-year of the PORR Group are published in accordance with IAS 34 Interim Financial Reporting, using the standards of the International Accounting Standards Board (IASB), the International Financial Reporting Standards (IFRSs) adopted by the European Union, as well as the interpretations of the International Financial Reporting Interpretations Committee (IFRIC) in addition to standards applicable for the first time as of 1 January.

These interim consolidated financial statements on the first and third quarter of the PORR Group are prepared under application of the accounting and measurement methods used in the consolidated statements as of 31 December of the previous year and the standards applicable for the first time since 1 January.

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.

The indicator production output covers all classic design and construction services, waste management, raw materials sales and facility management, i.e. all signifi­cant services rendered by PORR. For companies fully included in the consolidated group, this output broadly corresponds to the revenue defined and reported in accordance with IFRS. In contrast to revenue, production output also includes the output from consortiums and companies accounted for under the equity method, as well as those of minor significance, in line with the interest held by the Group and differences in definitions reconciled pursuant to commercial criteria.

The Executive Board and the Supervisory Board of PORR will propose a dividend of EUR 0.50 for the year 2021 at the Annual General Meeting. The payout ratio is 31.8% and the dividend yield is 3.6%. PORR is thereby delivering on its dividend policy, which provides for a payout ratio of 30% to 50% of the consolidated annual net profit.

The share

The PORR share has been listed on the Vienna Stock Exchange since 8 April 1869, making PORR the oldest listed company in Austria. Since 22 December 2014 the share has been listed on the prime market of the Vienna Stock Exchange, the exchange’s top segment.

There are 39,278,250 ordinary shares in issue with the ISIN AT0000609607.

PORR is currently covered by six brokers: ERSTE Group, FMR Research, Kepler Cheuvreux, M. M. Warburg Research, Raiffeisen Centrobank and SRC Research.

IR Service

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 telephone +43 (0)50 626-1763 during normal business hours (MON–THU 8am–5pm and FRI 8am-1pm).

Corporate Responsibility

Responsible corporate governance is neither a chore nor a cliché for PORR, but rather a conviction to live by. As an international company, PORR builds for generations and shapes living environments – with and for people. After all, the construction industry is a people business with many different ethnic groups and high consumption of energy and resources – and that’s why it requires a global and future-oriented approach. Responsible management and leadership are the foundation of PORR’s success and firmly anchored in its corporate strategy.

As a social player, PORR sees it as a mission to make a positive contribution and be part of the solution. The clear goal is to grow holistically, enabling it to operate in a future-oriented manner in line with ESG criteria.

The aim is to constantly expand PORR’s leading role in the area of sustainability. In cooperation with its stakeholders PORR is fearless and dedicated in tackling the complex challenges in order to drive its transformation step by step into the future. Numerous awards through ratings and top spots in rankings confirm our commitment and prove that PORR is on the right track, even if the objective has not yet been reached.

 

Lots of information, but zero tolerance. Law-abiding and transparent behaviour is the top priority at PORR. It has a zero-tolerance approach when it comes to corruption. This is binding for every stakeholder. There are no exceptions, as unfair business practices can cause lasting damage to PORR’s reputation and bring the company into disrepute. In addition to the aforementioned guidelines and policies, PORR has taken further countermeasures in recent years to prevent dishonest business practices as well as unfair competition. In recent years, for example, the Group has successively and consistently withdrawn from politically unstable countries with unclear legal situations. Accordingly, PORR does not process any orders in countries with a low CPI value (Corruption Perceptions Index: scale from 0-100, 0 = very corrupt).

PORR has declared its unconditional commitment to fighting corruption. The Code of Conduct applies equally to employees and business partners throughout the entire value chain.

In 2017, PORR was the first construction company in Europe to meet the requirements for certification to ISO 37001 (anti-bribery management) and ISO 19600 (compliance management systems) as well as ONR 192050 (compliance management systems). The changeover from ISO 19600 to the new ISO 37301 standard took place in 2021. PORR’s quality management system is certified to ISO 9001. 

Violations can be reported through two channels. On the one hand, they can be disclosed using the email address compliance•@•porr.at. Secondly, a whistleblowing platform enables anonymised two-way communication for everyone via the PORR homepage. It covers all national legal requirements and already meets almost all of the requirements of the EU Whistleblowing Directive.