PORR (POS) Q4 2025 earnings summary

Executive summary

• Achieved record order backlog of EUR 9.5bn, up 11.7% year-over-year, driven by strong demand in building and infrastructure construction.

• Order intake continued to increase, with significant growth in railway and tunnelling projects, especially in Poland, Romania, and Czech Republic.

• Revenue reached a record EUR 6,296m, marking a continuous increase since 2022 despite external challenges.

• EBIT margin improved to 3.1% in 2025, reflecting efficiency gains and cost savings.

• Free cash flow and net cash position strengthened due to working capital improvements and reduced CAPEX.

Financial highlights

• Revenue for 2025 was EUR 6,296m, up 1.7% year-over-year.

• EBIT rose to EUR 196.7m (3.1% margin), up from EUR 158.4m (2.6%) in 2024.

• Profit increased to EUR 136.7m, up 123% from 2021.

• Earnings per share reached EUR 3.00, a 154% increase from 2021.

• Free cash flow improved by EUR 94.7m, with operating cash flow/revenue ratio rising to 5.2%.

• Equity increased to EUR 964m, with an equity ratio of 21.1% despite hybrid bond redemption.

Outlook and guidance

• Moderate growth in revenue and output expected for 2026.

• EBIT margin forecasted to improve further, targeting 3.5%–4.0% by 2030.

• Uplift in all divisions anticipated in 2026 and 2027, supported by strong investment programs in Germany and Austria.