PORR reports outstanding figures, with production output of EUR 6,818m (2024: EUR 6,747m) and revenue of EUR 6,296m. “In 2025, we delivered major projects in our home markets including Austria, Poland and Romania”, says Strauss. This high level is attributable both to progress on rail and infrastructure projects and to stable growth in building construction. PORR generated a total of around 98% of its output in its seven home markets: Austria, Germany, Switzerland, Poland, Romania, the Czech Republic and Slovakia.

Growth in order books driven by major projects

New orders included exciting major projects from the segment International Infrastructure, as well as from Romania, Poland and the Czech Republic. The order intake rose by 14.1% to EUR 7,813m. Highlights include the comprehensive refurbishment of the Pack tunnel chain on the A2 Süd-Autobahn in Austria, Poland’s longest high-speed tunnel in Łódź, a railway line in Romania, and several line modernisation projects in Poland and the Czech Republic. In Germany, these were followed by the revitalisation of the Siemensbahn in Berlin and the overhaul of the Kachlet Danube lock.

Building construction also remains buoyant: Follow-up contracts were secured for a pharmaceutical production plant in Germany, along with orders for the construction of the Włocławek Energy Centre in Poland, several healthcare construction contracts and the Graz Center of Physics university project in Austria. In addition, there were residential construction projects such as the Nordbahnhof Areal 3E housing developments in Vienna, Stralauer Allee in Germany and Kladno Living in the Czech Republic. As a result, the order backlog had increased by 11.7% as of 31 December to EUR 9,539m.

Sharp rise in earnings and strong balance sheet

Key earnings figures increased significantly: While revenue grew by 1.7% to EUR 6,295.9m, EBIT rose disproportionately to a substantial EUR 196.7m, an increase of 24.2% year on year. EBT also climbed by 24.4% and the profit jumped by 25.6% to EUR 136.7m. This is attributable to a combination of cost savings, greater efficiency, improved output and higher income from companies accounted for using the equity method. The improvement in earnings resulted in an EBIT margin of 3.1%. Earnings per share rose by 29.3% to EUR 3.00 (2024: EUR 2.32).

Positive developments were also seen in assets and cash flows. PORR increased its free cash flow by 68.6% to EUR 232.9m; cash and cash equivalents rose significantly by EUR 165m to EUR 748m. This, together with committed credit facilities, results in a comfortable liquidity reserve of EUR 1,197.8m. The equity ratio remained stable at 21.1% despite an increase in total assets. The solid financial position is confirmed by a reduction in net debt. PORR reported a net cash position of EUR 93.1m at the end of the year (2024: Net debt of EUR -1.7m).

Emissions significantly reduced

Already in the first year of its decarbonisation plan, it is clear that financial success and climate-conscious business practices go hand in hand at PORR. PORR was able to reduce its direct emissions (Scope 1 and 2) by 22.5%, whilst emissions along the value chain (Scope 3) fell by 12.9%. This development was driven in particular by operational efficiency measures, the increased use of alternative fuels, the expansion of renewable energies and lower energy consumption. With production output remaining stable, emissions intensity fell by 14.3%.

Positive outlook for 2026 

In the 2026 financial year, strong demand in the areas of transport infrastructure, energy supply and digital networks, as well as the expansion of renewable energies, will continue to drive growth in the industry. In Germany especially, significant impetus is expected from public investment activity in 2026. The building construction sector is experiencing overall growth and the first signs of momentum are also evident in residential construction. Strauss: “With PORR’s strong infrastructure expertise in all seven home markets, we’re clearly on track to deliver further growth in 2026. What’s more, we have strategically expanded our range of services in building construction in order to provide solutions for the clearly emerging needs of the market”.

PORR has expanded its healthcare division through the acquisition of VSG and is now able to design, build, fit out and start up healthcare facilities of all kinds from A to Z. With PORR Living, the company has developed a modular housing solution, specifically addressing the growing demand for affordable homes. An initial pilot project with construction costs of less than EUR 2,000 per square metre is already under way in Austria. The areas of industrial construction and data centres are also being expanded. Based on the high order backlog and the expected market development, the Executive Board anticipates moderate growth in output and revenue, as well as an increase in the EBIT margin in 2026. The long-term target of an EBIT margin of 3.5% to 4.0% by 2030 remains unchanged.

The ongoing conflict in the Middle East and Iran also poses a risk of further destabilisation in the region. Restrictions on oil and gas production could negatively affect global energy and raw material prices, thereby creating additional economic uncertainty. PORR has largely scaled back its operational activities in Qatar over the past two years and is now primarily focused on the administrative completion of any remaining projects. It is assumed that the current conflict in the Middle East will not have a significant impact on this. A large proportion of the PORR Group’s energy demand, particularly electricity and gas, have been hedged in terms of pricing. Should tensions persist over a longer period, there could be an impact on the price of materials. However, the order backlog is covered by fixed prices and price adjustment clauses. In addition, costs are being hedged through early procurement. PORR has already demonstrated during the Ukraine conflict that potential price increases can be successfully managed.

The assessment of future business performance is based on the current economic conditions as well as the opportunities and risks in the respective markets. However, an escalation of geopolitical tensions, new trade barriers, or renewed volatility in the financial markets could have adverse effects on economic development and on PORR’s business activities. Any forecast is therefore subject to uncertainty.