Construction group PORR announces revenues of €146 million in Q1 2024

Business Forum

4 June, 2024 at 4:45 PM

The construction group PORR obtained revenues of €146 million in the first quarter of this year in the region of Central and Eastern Europe, where operations in Romania, the Czech Republic and Slovakia are included. The regional turnover increased by 32.5% compared to the first three months of 2023, mainly due to the activity on the civil engineering market and the large projects in Romania, such as the construction of the Sibiu-Pitesti highway.

At the end of March 2024, in the three countries the PORR group had a portfolio of contracts with a total value of €837 million, 5.5% below the level registered in March 2023. The value of the new contracts accumulated €134 million, the most significant project contracted in the first quarter being for the expansion of the Residenz U Sluncóvé housing complex, in Prague.

"The construction industry in the three markets of Central and Eastern Europe benefits from the investments available through the European Recovery and Resilience Facility. Romania, in particular, is taking significant steps in the expansion and modernization of the transport infrastructure. In the construction sector of non-residential buildings, the industrial segment remains a key engine of development, a solid demand for constructions coming from the area of medical buildings, storage spaces and data centers. The experts at Euroconstruct anticipate a recovery in terms of residential constructions starting from the second half of the year," it is shown in the company's quarterly report.

At the group level, between January and March 2024, PORR achieved total revenues of €1.32 billion, up 4.1% compared to the same period in 2023. At the end of March 2024, the portfolio of contracts at the level of group exceeded €8.4 billion.

In 2023, the PORR group reported total business of €344 million in Romania (+28.3%), the largest projects contracted by the company last year targeting major infrastructure works. Porr Romania is thus working on the execution of Lot 4 of the Sibiu-Pitesti highway and on the 11 kilometers of the South-East Ring of Arad. In terms of special projects, the company is carrying out works in the Port of Constanta and, in 2023, also started the works in the port of Giurgiu. Also last year, Porr Romania also contracted the construction of the new DP World multimodal terminal, in Constanta Port, a recently inaugurated project.

In the western part of the country, the company is working on the Osorhei and Santandrei Belts, in Bihor county, and in Timisoara and Resita, on the modernization of the tram lines. Such works, to modernize the tram infrastructure, will also take place in Bucharest, in the area of Expozitiei and Timisoara boulevards. In addition, in 2023 the company also contracted the construction of the Buftea belt, a project worth €67 million.

The Civil Constructions Division of Porr Romania is carrying out works on the domestic sewage networks, drinking water supply and discharge in four localities in Ilfov county. Next, the company participates in auctions to award some of the biggest construction projects that will be carried out in the coming years in Romania.