With an increase in performance of 5.6% and efficient cost management, PORR has performed excellently in a challenging environment.
Strong drivers such as the green transformation and the energy transition are providing positive impetus to the order situation, particularly in civil engineering and infrastructure construction.
'2023 was an enormously exciting and at the same time challenging year for the construction industry. Thanks to our broad portfolio and our comprehensive infrastructure expertise, we were able to achieve a great result in this environment,' summarizes PORR CEO
This trend is reflected in both PORR's production output and order books. Production output rose by 5.6% to
Infrastructure projects that make waves
PORR's order backlog increased by 3.0% to
Positive impulses can also be felt in other building construction, for example in healthcare, industrial and commercial construction as well as in public building construction. PORR's new healthcare projects include the oncology hospital in Wroclaw and the
Sales increased, expenses reduced
With an increase in sales of 4.5%, PORR was able to reduce material costs by 5.8% compared to the previous year and successfully manage the increased personnel and subcontractor costs due to inflation. With the resulting very pleasing earnings before taxes (EBT) of
Improved financial performance
PORR has significantly improved its balance sheet structure through consistent capital management. As of
Through focused receivables management, trade receivables were successfully reduced and working capital was also reduced. PORR still has a comfortable liquidity cushion. The liquidity reserves amounted to
Outlook 2024
Based on the well-filled order books, the Management Board expects a moderate increase in performance and an increase in operating profit for 2024 despite a volatile environment.
The assessment of further business development is based on the current goals in the individual areas as well as the opportunities and risks that arise in the respective markets. Should the geopolitical situation worsen, this could have negative effects on PORR and its business activities. Any assessment of economic development is therefore subject to forecast risks.
Contact:
CEO,
Tel: 43 50 626 1001
Email: comms@porr-group.com
Tel: +43 50 626 1004
Email: comms@porr-group.com
Press Spokesperson,
Tel: +43 50 626 5867
Email: comms@porr-group.com
Head of Investor Relations,
Tel: +43 50 626 1765
Email: ir@porr-group.com
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