- Output and order backlog at record high
- Second-best result in PORR’s history
- Net debt falls below EUR 200m
- Outlook 2018: output to grow to EUR 5bn
Vienna, 14.03.2018 – PORR AG increased its output and order backlog in 2017 for the fifth year in a row. With production output forecast at around EUR 4.7bn, PORR has achieved record growth of over 20 %. The order backlog of almost EUR 6.4bn is higher than ever. The PORR home markets served as a stable growth driver once again in 2017.
“PORR is on track. We have deliberately invested in growth. At the same time, our record order backlog gives us a solid basis for 2018 and beyond”, says Karl-Heinz Strauss, CEO of PORR. “With the new Executive Board team we are placing a particular focus on profitability in 2018”.
On the basis of preliminary figures, PORR generated production output of EUR 4,738.2m, whereby the rise of 20.7 % marked a significant increase on the previous year. The organic growth of 12.3 % benefited above all from the clear positioning on the home markets of Austria, Germany, Switzerland, Poland and the Czech Republic. PORR achieved additional growth of 8.4 % through acquisitions. There was a significant increase in the fields of commercial construction and international infrastructure projects. The largest share of output was achieved in Austria and Germany in particular.
In 2017 PORR achieved the second-best result in its history. Included here are the integration costs from the rapid expansion in the German market and one-off effects in Qatar. As expected, the 2017 earnings will be somewhat below the record value of the previous year.
The order backlog reached another all-time high: at EUR 6,366.8m, it climbed by 32.5 % despite the strong growth in production output. The order intake rose even more sharply by 51.8 % and amounted to EUR 6,300.9m. Large-scale projects such as BMW in Munich-Freimann or complex infrastructure projects like the motorway bridge A1 Dortmund/Koblenz over the river Rhine, the railway line LK 354 Poznań-Piła in Poland, or the section of the U5 metro line in Frankfurt were acquired in 2017 and will ensure full capacity utilisation well beyond 2018. PORR, once again, proved itself to be a reliable partner on complex, large-scale projects in the infrastructure sector and to the industry.
The company managed to reduce its expected net debt by around EUR 300m in the fourth quarter of 2017 alone and it is set to be below EUR 200m as of year-end 2017.
On the basis of the current record order backlog, the Executive Board expects production output to grow to around EUR 5bn, representing an increase of approximately 5.5 %.
PORR AG will publish the final figures for the 2017 business year on 26 April 2018.