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Investor Presentation: FY Results 2023
March 2024
DISCLAIMER
- This presentation was prepared by PORR AG (the "Company") solely for use at investors' meetings and is provided solely for informational purposes.
- This presentation dates from March 2024. The facts and information contained herein might be subject to revision in the future. Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. None of the Company or any of its subsidiaries or any of its shareholders or any of such person's directors, officers, employees or advisors nor any other person makes any representation or warranty, express or implied as to, and no reliance should be placed on, the accuracy or completeness of the information contained in this presentation. None of the Company or any of its subsidiaries or any of its shareholders or any of such person's directors, officers, employees and advisors nor any other person shall have any liability whatsoever for any loss howsoever arising, directly or indirectly, from any use of this presentation. The same applies to information contained in other material made available at the meeting.
- This document is selective in nature and is intended to provide an introduction to, and overview of, the business of the Company. Wherever external sources are quoted in this presentation, such external information or statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate.
- This presentation contains forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which the Company operates. These statements generally are identified by words such as "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements, including but not limited to assumptions, opinions and views of the Company or information from third party sources, contained in this presentation are based on current plans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. The Company does not represent or guarantee that the assumptions underlying such forward- looking statements are free from errors nor do they accept any responsibility for the future accuracy of the opinions expressed in this presentation. No obligation is assumed to update any forward-looking statements.
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Investor presentation: FY Results 2023 | 21.03.2024 I 2 |
1PORR
at a Glance
Investor presentation: FY Results 2023 | 21.03.2024 I 3 |
PORR IN BRIEF
ONE-STOP SHOP
N | B | ||||
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Full-Service | A | |||
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L | Provider | N | O | |
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S | E | |||
#3
#3
#6
H | R |
O | E |
PERAT |
- 21,000 Staff members
EUR 8.5 bn Order backlog
EUR 6.6 bn Production output
EUR 130.7m Earnings before tax (EBT)
#7
#2
#1
#5
2.3% EBIT margin to sales
Home markets Project markets
Market position #
Investor presentation: FY Results 2023 | 21.03.2024 I 4 |
THE 4 D'S OF PORR
DEMAND IN INFRASTRUCTURE AND BUILDINGS
Deglobalisation | Decarbonisation | Digitalisation | Demographic change |
Resilience & | +1.5°C max. & | Artificial intelligence & | Urbanisation & |
regionalisation | climate neutrality | digital twins | ageing society |
Nearshoring and reshoring to | Energy transformation and | Digital transformation and | Smart infrastructure, | ||||||
build local supply chains | circular construction | operational excellence | affordable housing for generations | ||||||
Industrial construction Storage buildings | Geothermal energy Pipeline construction | BIM 3D - 5D | Big data | Digital processes | Railway, Slab Track | Tunnels, bridges | |||
R&D facilities | Clean rooms Data centers | Environmental engineering Power plants | LEAN Construction | Robotics | AR, VR | Roads | Rehab clinics, medical centers | ||
Local logistics | Regional infrastructure | Recycling Thermal renov. & revitalisation | Digital site | Drones | 3D printing | Residential | Hotels, educational buildings | ||
Investor presentation: FY Results 2023 | 21.03.2024 I 5 |
FOCUS ON INTELLIGENT GROWTH
WITH GREEN AND LEAN
Intelligent Growth
Green and Lean
Company | Staff | LEAN | ||
Best in Class: In construction | We live our PORR Principles | Desing-build contractor - one- | ||
and technologies | stop shop for every process | |||
Build on leading market | The best - Best Place to Work | Innovation leader in | ||
position | construction technology | |||
Sustainable profitability | Nurturing talent - lifelong | Pioneer in digitalisation - | ||
ahead of revenue | learning for all of us | improving quality and | ||
efficiency | ||||
Strong equity position and | We live diversity, equal | Lean, flexible and cost- | ||
efficient deployment of | opportunities and | conscious | ||
capital | performance | |||
We inspire | We build | We rely | ||
our customers. | on PORRians. | on LEAN Construction. |
Investor presentation: FY Results 2023
ESG
Clear commitment to ecological, environmentally- friendly construction
Efficient and responsible use of resources and energy
We act holistically in line with the circular economy
Clear commitment to compliance and ethical behaviour
We unite
economy, environment
and society.
21.03.2024 I 6
2Facts & Figures
FY Results 2023
Investor presentation: FY Results 2023 | 21.03.2024 I 7 |
2023 AT A GLANCE
1
2
3
Positive market outlook
Steady increase in order intake
Strong order book
High demand in infrastructure and industrial construction
Earnings increase at every level
Efficient cost management
4
5
6
Optimised equity
20.8% equity ratio (+1.5 PP)
Enhanced working capital management
Receivables significantly reduced
Positive outlook 2024
Continuous improvements
Investor presentation: FY Results 2023 | 21.03.2024 I 8 |
POSITIVE MARKET OUTLOOK
STEADY INCREASE IN ORDER INTAKE
Rebound in European construction in 2025
2.5% | 2.5% | 2.3% | ||||||||
rates | 1.7% | |||||||||
1.5% | 1.3% 1.4% | 1.6% | ||||||||
0.9% | ||||||||||
Annual growth | 0.0% | |||||||||
-2.1% | ||||||||||
-5.4% | ||||||||||
2024e | 2025e | 2026e |
Residential Non-residential Civil engineering Total
- Civil engineering with continuous growth
- Dip in residential construction overcome in H1/2024
- Turnaround in CEE countries already expected in 2024
Source: Euroconstruct, Dec 2023
PORR's order intake (in EURm)
CAGR: +5.0%
6,414 | 6,659 | 6,835 | ||||||
5,905 | 59% | |||||||
52% | ||||||||
30% | 24% | |||||||
11%7% | ||||||||
6% 12% | ||||||||
2020 | 2021 | 2022 | 2023 | |||||
Miscellaneous | Residential | Non-residential | Civil engineering | |||||
- Order intakes in infrastructure co-financedby EU funds (~EUR 1.3 tn of investments)
- Doubling order intake in Infrastructure International, double-digitincrease in PL
- Strong backlog increase started in Dec. 22
Investor presentation: FY Results 2023 | 21.03.2024 I 9 |
TOP ORDER INTAKES 2023
Civil engineering | Other | |||||
Non-residential construction | Residential construction | |||||
Q1 | Q2 | Q3 | Q4 | |||
ams-Osram fabric halls | Arge H53 Brenner | Pumped storage | Elisabeth-Selbert-Haus | |||
Premstätten / AT / 49.5m | Base Tunnel | power plant | office building | |||
AT / 479.6m | Ebensee / AT / 167.0m | Berlin / DE / 88.7m | ||||
Arge Arlbergtunnel | ElbX SuedLink tunnel | DC Tower 2 | S8 expressway | |||
AT / 47.9m | DE / 215.0m | apartment & office bldg. | Wrocław - Kłodzko | |||
Vienna / AT / 89.5m | PL / 74.1m | |||||
THE FORM | Arge Terminal 3 South | Aixtron Innovation Center | Arge Remediation of | |||
office building | Airport Vienna | Herzogenrath / DE / 82.3m | contaminated site N6 | |||
Warsaw / PL / 41.4m | AT / 205.6m | Wr. Neustadt / AT / 60m | ||||
Modernisation of roads | DCO Clinic | Pomeranian Medical | Q47 | |||
Oradea / RO / 39.3m | Wrocław / PL / 189.8m | University expansion | apartment building | |||
Warsaw / PL / 47.4m | Bochum / DE / 59.8m | |||||
A10 expressway | Power plant conversion | DPW II | Żelazny Most | |||
Reittunnel - AST Eben | Forbach / DE / 98.4m | Harbour modernisation | reservoir modernisation | |||
AT / 34.8m | Constanța / RO / 31.1m | PL / 55.4m |
Investor presentation: FY Results 2023 | 21.03.2024 I 10 |
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Porr AG published this content on 21 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2024 05:58:05 UTC.