PORR : with new record order backlog and improved earnings in first quarter
May 31, 2016 at 01:42 am EDT
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PORR with new record order backlog and improved earnings in first quarter
- Production output of EUR 648m, a rise of 9.6%
- EBT improves by approx. 17%
- Order backlog of EUR 5,149m exceeds five-billion-euro mark for first time
- Order bookings of EUR 1,218m up by 31.7% against previous year
Vienna, 31 May 2016 - PORR managed to surpass the high output of the previous year in the first quarter of 2016, despite the continuation of the challenging backdrop. Production output of EUR 648m was up by 9.6% on the comparable period. The strong growth in output and the improvements in efficiency were also reflected in earnings. At EUR -10.0m, PORR achieved a year-on-year improvement in EBT of approx. 17%. The post-tax earnings for the period of EUR -8.2m were even as much as 29.3% higher in the first quarter 2016 compared to the same period in the previous year.
'The good output growth in the first quarter once again confirms our excellent positioning on the home markets along with strong acquisitions on the international markets. Our order backlog has surpassed the five-billion-euro mark for the first time and allows us to be optimistic about the full year 2016. Our focus remains unchanged: we will continue to concentrate on our five home markets and our strategy of intelligent growth', said Karl-Heinz Strauss, CEO of PORR.
Positive order situation continues
At the end of March 2016 the order backlog stood at EUR 5,149m, representing a rise of 17.2% against the high level of the previous year. Order bookings rocketed by 31.7% to EUR 1,218m.
The largest new order by some margin in the first quarter of 2016 was acquired by PORR in Qatar, with the Al Wakrah Stadium in Doha. Other major orders included the Europaallee office building/lot F in Zurich for the Swiss Federal Railways, the S6 Koszalin-Sianów and the S8 expansion Poreba-Ostrow in Poland, the German building construction project Mucon Hotel in Munich, the La Tête office project in Düsseldorf and the Schlossquartier in Kiel. In the important Vienna area, PORR continued the success story of EURO PLAZA with construction phase 6.
The interim report on the first quarter 2016 is available for download from www.porr-group.com.
Contact:
Christian B. Maier, CFO
PORR AG
T. +43 (0)50 626-1009
M. +43 (0)664 626-1009
Karl-Heinz Strauss, CEO
PORR AG
T. +43 (0)50 626-1001
M. +43 (0)664 626-1001
Sandra C. Bauer
Head of Corporate Communications | Corporate Spokesperson
PORR AG
T. +43 (0) 50 626-3338
M. +43 (0) 664 626-3338
communicationsporr.at
Porr AG published this content on 31 May 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 May 2016 05:41:03 UTC.
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Porr AG, formerly known as Allgemeine Baugesellschaft A Porr AG, is an Austrian holding and construction company. The Company provides services diversified into building construction, civil engineering, infrastructure construction, project development and environmental engineering. The Company has a number of offices located in Central, Eastern and South-Eastern Europe. Its services range from residential construction to infrastructure projects. The building construction services cover offices, hotels, universities and football stadiums, among others. The civil engineering services cover tunnels, bridges, railways and power plants, among others. The infrastructure construction services cover traffic infrastructure. The project development services are carried out by the Company's subsidiaries Strauss & Partner Development GmbH, PORREAL Immobilien Management GmbH and UBM Realitaetenentwicklung AG. The environmental engineering services include design, financing and operation of plants.
PORR AG 
