PORR AG – more than two-fold increase in EBT – net debt cut by over 40 % – planned tripling of dividends to EUR 1

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Vienna, March 24th 2014 – PORR AG has announced further preliminary figures for the 2013 business year. In addition to the 19 % increase in production output to EUR 3,439m already announced, along with the 36 % rise in the order backlog to EUR 4,591m, the company managed to increase EBITDA by 49 % or EUR 50.9m to EUR 154.7m in 2013. EBIT amounted to EUR 88.0m, following on from EUR 53.8m in the same period in 2012 – an increase of more than 60 %. In a year-on-year comparison EBT shot up by far more than double to EUR 60.5m (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 in 2012 to just EUR 357.5m in 2013.
 
Karl-Heinz Strauss, PORR AG’s CEO, is delighted with the Group’s performance: “PORR’s impressive upward trend continued in the last business year. Thanks to our intelligent growth strategy and our fitforfuture optimisation programme, we have managed to achieve significant improvements on the figures from 2012. In light of this positive performance, the Executive Board will propose that we triple dividends to EUR 1 per share at the Annual General Meeting.”
 
PORR AG will present the full financial statements and the 2013 Annual Report at the press conference on the financial results on April 9th 2014.
 
Furthermore, PORR AG is evaluating options for strengthening its capital base and negotiations with international investment banks are currently underway.

 
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