PORR (POS) CMD 2025 summary

Strategy and markets

• Intelligent growth prioritizes sustainable profitability, strong equity, efficient capital use, customer satisfaction and a best-in-class workplace over scale.

• Seven European home markets generated 97% of activity; project markets represented 3%. The UK is retained, including an HS2 slab-track order above EUR 300 million; Norway is nearing completion and Qatar is being exited.

• German plans include EUR 500 billion in special funds over 12 years and EUR 50 billion for rail through 2027; CEE growth is supported by EU investment, including Poland’s EUR 46 billion railway program.

• Balance permanent regional work with selective large projects; build permanent business in Poland and traffic-route engineering in Germany. Bolt-on acquisitions will fill geographic or capability gaps; Ukraine is not a planned entry market.

Growth platforms

• Data centres: seven delivered projects represent 0.7% of output; eight are under way or completed in Poland, with a Frankfurt project above EUR 200 million. European market CAGR is estimated at 13% through 2032.

• Healthcare capability is expanding across Austria, Poland and Germany; 10 Vienna hospital projects require renovation or construction, representing EUR 6 billion of investment over the next few years.

• Modular housing based on the InstaBlock acquisition is in development; a sample house was tested, with indicative turnkey costs below EUR 2,000/m² for larger unfurnished projects.

• Industrial EPC and clean-room work targets pharmaceuticals, semiconductors and life sciences, including turnkey projects for Boehringer, Bayer, Helios, Sanofi and B. Braun.

• Specialized infrastructure spans slab track, tunnelling, energy-transition projects and waste-to-energy; niche expertise and limited bidder competition can support higher margins.

Operating model and investment

• Lean construction uses weekly coordination and 6–12-week planning; eligible projects can finish up to 25% faster, and two-thirds of sites are considered suitable. Transformation is complete in 19 areas and under way in 14.

• Build with more own staff and strategic logistics to reduce subcontractor and procurement dependence; expand academy training across Austria, Germany, Romania and Poland.

• Portunity links project data with HR, procurement, estimating and execution; BIM, 3D/5D planning, robotics, scanning and predictive maintenance are being rolled out.

• Overhead-efficiency program targets EUR 40 million in savings over six years; an earlier reduction brought the overhead ratio from 8.2% to 6.7%.

• Mandatory project review gates include four execution milestones; tighter selection and withdrawal from loss-making markets aim to protect earnings.