PORR AG reports significant earnings improvement for 2015

Construction firm PORR AG announced stronger financial results for 2015, with production output growing 1.4% year-on-year to EUR 3,524 million. This growth, achieved despite a challenging economic climate and increased competition, was primarily driven by PORR's home markets of Austria, Germany, Switzerland, Poland, and the Czech Republic, which accounted for over 86% of total output.

Earnings before tax (EBT) saw a significant improvement, increasing by 22.7% to EUR 81.1 million. Earnings before interest and taxes (EBIT) rose 7.4% to EUR 87.8 million, and EBITDA increased by 6.1% to EUR 165.9 million. The company also reported a substantial increase in its net cash position, which stood at EUR 186.5 million at year-end.

PORR AG's order backlog expanded by 12.8% to EUR 4,579 million by the end of 2015. Notable new orders contributing to this backlog include the Europaallee project at Zurich Main Station, the Bavaria Towers in Munich, and a new production site for Haribo in Germany. In infrastructure, key wins included the Swiss Albula II tunnel project and work on the Ceneri Base Tunnel.

The company's management board plans to propose an increased dividend of EUR 1 per share, along with a special one-off dividend of EUR 0.50 per share. PORR has also adjusted its organizational structure to better align with its growth strategy. The company anticipates further growth in output and earnings for the 2016 business year.