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FAQ

Business model

The PORR Group is with about 19.828 employees and a production output of about EUR 5.6 bn (2019) 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 94% 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 leading provider 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. Moreover, PORR is a trailblazer in technology, increasingly applying linked-up, 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 and the Czech Republic, plus Slovakia and Romania as new home markets since 2019. Generating around 94% of production output, the focus of the business lies in Europe. This is where PORR’s entire service portfolio is deployed – from design over construction to operations. In addition, the company works very selectively in certain project markets such as Qatar, the United Arab Emirates (UAE) and Norway. Here PORR offers its export products and extensive expertise in tunneling, railway construction and specialised civil engineering on the international stage.

PORR AG is a European construction company with a leading position in every aspect of the construction value chain. The strategy is clear and long-term: there is no change in the goal of expanding the strong market position in Europe and focusing on selective, intelligent growth and on technology. The overarching goal remains a sustainable increase in the enterprise value for every stakeholder.

PORR’s business activities are divided into permanent business and project business. Permanent business with complete coverage is offered in Austria, the Czech Republic, parts of Germany, Switzerland, and Romania. On every other market PORR works on a project basis and concentrates on the sectors in which it can offer clear value added.

  • Our markets – Leading position on the seven European home markets, with long-term potential in the construction sector
  • Our USP – Construction company with vertical integration that realises complex projects as a design-build contractor and technological trailblazer
  • Our strategy – Intelligent, selective growth with our core competency construction
  • Our principles – Reliability, shoulder to shoulder, appreciation, passion, pioneering spirit
PORR Group Organization

An average of around 19,828 staff members were employed across the Group in 2019.

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.

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.

The 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.

PORR takes a sustainable approach and is committed to continuity in its dividend policy. The policy is based on the performance of the business and earnings in the coming years and should allow shareholders to fairly participate in the company’s success.

 

In the current situation triggered by the COVID-19 pandemic, in a Supervisory Board meeting on 23 April 2020, the Supervisory Board and the Executive Board came to the conclusion that a dividend payout for the 2019 business year is not appropriate. The non-payment of the dividend payout will be proposed to the Annual General Meeting as a precautionary measure in view of the COVID-19 pandemic and as a sign of solidarity towards every PORR stakeholder. This does not mean a change of the continuous dividend policy of PORR, which usually aims at a payout ratio of 30% to 50%, but instead takes into account the historically unique situation of the COVID-19 pandemic.

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 29,095,000 ordinary shares in issue with the ISIN AT0000609607.

PORR is currently covered by seven brokers: ERSTE Group, FMR Research, Hauck & Aufhäuser, 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 Social Responsibility

PORR takes responsibility for the impacts its business activities have on society and has laid out comprehensive criteria and measures in its sustainability strategy. In accordance with the requirements of the Austrian Sustainability and Diversity Improvement Act, PORR publishes a non-financial report pursuant to Section 267a of the Austrian Commercial Code.

The material topics identified as part of a comprehensive analysis process have been prioritised with the help of a Group-wide stakeholder survey. In order of relevance, the topics are: social standards in the supply chain; energy and emissions; health and safety; ethics and compliance; further education and training; upholding human rights; waste management; material consumption and circular economies; and environmental standards in the supply chain. Other subject areas address aspects such as biodiversity and soils, as well as water as a resource on the one hand and topics like sustainable buildings and structures or science and technology on the other. Diversity and equal opportunities, the well-being of local communities, and the contribution to local economies were also considered material by stakeholders, albeit with lower relevance. The sustainability targets are reflected in a catalogue of measures specific to every division. This includes energy-efficiency measures related to equipment, fleet and building management and enhanced resource efficiency, through to a focus on local suppliers, a sustainable supplier management system, the occupational safety initiative “Vision Zero” and the implementation of workplace health promotion, protection and promotion of international human rights, as well as compliance training and comprehensive HR development measures.

 

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.

The PORR Group uses a compliance management system that covers relevant aspects such as anti-corruption, social dumping and disseminating information. No services are rendered in countries with a low CPI score (Corruption Perceptions Index: scale 0-100, 0 = very corrupt). Employees attend compliance lectures as well as training sessions on anti-bribery and issuer compliance. While the Group’s internal Code of Conduct is mandatory for all staff members, the external version applies to all business partners. The partners are also responsible for adherence to the specifications throughout their respective supply chain. Non-adherence can lead to an immediate cessation of the business relationship through to a ban on further work. The Compliance Office works closely with the Internal Audit and Legal departments to monitor adherence to the guidelines Any deviations should be reported to compliance•@•porr.at immediately. Breaches related to money laundering or financing terrorism can be reported anonymously via the internal whistle-blower system in accordance with ISO 37001.

PORR is certified to ISO 37001 (Anti-bribery management systems) and ISO 19600 (Compliance management systems) as well as ONR 192050 (Compliance management systems). The PORR anti-bribery guidelines are an internal document provided to employees and business partners.