PORR Group — Strong order growth set to continue

PORR Group delivered new orders of €2,510m in Q225 (up 31% y-o-y), driven by several large transport infrastructure project wins. Q225 book-to-bill rose to 1.5x and the order book now stands at €9,421m, up 10.0% y-o-y (Q125: €8,812m). According to management, pipeline quality remains high and infrastructure-focused, meaning margins should be supported over the coming quarters. Q225 revenues were €1,694m, up 3.8% y-o-y, and EBIT was €36m, up 17% y-o-y. Management’s guidance of an FY25 EBIT margin of 2.8–3.0% remains unchanged.