The transaction is to be executed and settled in the next few days. This will further reduce PORR's hybrid capital. This step is made possible by PORR's very positive equity development in the 2023 business year. At 19.4% at the end of the third quarter of 2023, this was already close to the target corridor of 20-25% and 0.9 PP above the previous year's value. As a result of the successful working capital management in recent months, this positive trend in the equity ratio continued until the end of the year.
"Thanks to our progress in receivables management and the very pleasing increase in the equity ratio, this step will allow us to finalise the refinancing of our hybrid instruments and reduce our capital costs at the same time. Due to our positive business and earnings performance, we continue to expect a sustainable equity ratio of over 20%," says Karl-Heinz Strauss, CEO of PORR.
Please contact us if you have any questions:
Karl-Heinz Strauss
CEO
PORR AG
T +43 50 626 1001
comms@porr-group.com
Klemens Eiter
CFO
PORR AG
T +43 50 626 1004
comms@porr-group.com
Press:
Melanie Manner
Press Officer & Media Relations
PORR AG
T +43 50 626 5867
comms@porr-group.com
Investor Relations:
Lisa Richter
Head of Investor Relations
PORR AG
T +43 50 626 1765
ir@porr-group.com
