PORR (POS) Q2 2025 earnings summary

Executive summary

• Order backlog reached an all-time high, up 10% year-over-year, with a 25% increase in order intake driven by infrastructure and civil engineering projects in CEE, Poland, and international markets.

• EBIT rose to €48.7m, up 15.5% year-over-year, and EPS increased 17.8% to €0.53.

• Major new contracts were secured in railway and energy infrastructure, notably in Romania and Poland.

• Share buyback and sale completed, increasing free float and strengthening capital structure.

• Earnings development remains on track, with EBIT margin at 1.6%, up 0.2 percentage points year-over-year.

Financial highlights

• Revenue grew 1.8% year-over-year to €2,959.2m, with production output at €3,171m.

• Net profit for the period was €29.4m, up 7.0% year-over-year.

• Equity increased by €43.9m (+5.4%) compared to June 2024, with an equity ratio stable at 20.0%.

• Net debt reduced by 7.9% to €301.3m, supported by operational gains and one-off effects.

• CAPEX ratio at 3.9% of production output, with a target reduction of 4%.

Outlook and guidance

• Outlook for moderate growth in output and revenue is confirmed, supported by a €9.4bn order backlog.

• EBIT margin guidance for 2025 is 2.8%–3.0%, with a long-term target of 3.5%–4.0% by 2030.

• Risks from geopolitical tensions and economic uncertainty could impact performance.