reports
Porr AG: 1 director
A director at Porr AG bought 2,500 shares at 14.400EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showin...
PORR Q3 22 - FY 22 outlook fine-tuned to the upside, now in line with ...
Q3 results shaped by 7% output growth and essentially flat EBITDA Order intake stable, backlog stands at comfortable level of EUR 7.86 bn FY 22 objectives fine-tuned the targets to the upside, now living up to our forecasts Output target of about EUR 6 bn vs. RBIe EUR 6.1 bn and EBT of > EUR 100 mn vs. RBIe EUR 108 mn Despite the positive notion of higher full-year targets, given that we have considered the guidance as conservative for some time, we still have a more neutral view
Raiffeisen Research Institutional Equity Daily 28.11.2022
AT: IMMOFINANZ - Reaches agreement with former COO Dietmar Reindl on the use of affordable housing concept (neutral) AT: PORR - FY 22 outlook fine-tuned to the upside, now in line with RBIe (neutral) AT: S IMMO - Mandate of Herwig Teufelsdorfer extended until December 2025 (neutral) AT: S IMMO - Q3 earnings ahead of estimates (positive) DE: Encavis - Encavis acquired a 69 MW wind park in Lithuania (neutral) PL: PKN - Domestic gas producer to be compensated for gas price difference (n...
Raiffeisen Research Institutional Equity Daily 04.10.2022
AT: Andritz - Four tissue lines order from Bracell (neutral) AT: Flughafen Wien - The management continues to advise its shareholders not to accept the purchase offer (neutral) AT: Frequentis - Frequentis completes urban airspace drone test series (neutral) AT: Lenzing - Commissioning of first half of 5.56 MWp PV park (neutral) AT: OMV - OMV starts two geothermal projects (neutral) AT: PORR - Share buyback programme of up to 785,565 shares, or 2% of the capital, announced (neutral) ...
PORR Q2 22 - Initial FY 22 guidance below RBIe but appears conservativ...
Q2 results determined by higher output but stagnant EBITDA and pre-tax profit Backlog above the EUR 8 bn mark give comfortable order situation Seasonal cash burn results in higher net debt Initial FY 22 guidance calls for output of EUR 5.7-5.9 bn and higher pre-tax earnings Output target implies decline in H2, to exceed FY 21 earnings H2 EBT can be down up to 10% - outlook appears very conservative at first glance We have a neutral view on the results release
Raiffeisen Research Institutional Equity Daily 30.08.2022
AT: Bawag Group - Supreme Court rules against Bawag in the swap contract court case with City of Linz/ EUR 254 mn write-off has no impact on regulatory capital (neutral) AT: Kapsch TrafficCom - Kapsch TrafficCom agreed to sell Spanish public transport subsidiary (neutral) AT: PORR - Initial FY 22 output guidance below RBIe but might be conservative, earnings increase flagged (neutral) AT: Vienna Insurance Group - CEO Elisabeth Stadler will not renew her mandate (neutral) RO: Sphera Fra...
PORR confirmed at BUY, TP EUR 17.5 - Model update post Q1: Slightly hi...
We maintain the BUY recommendation for PORR amid a target price increase to EUR 17.5 from EUR 16 Rebuilding an earnings/profitability track record remains the key driver to unlock value, in our view. Although we think that inroads were made in this respect in the past few quarters, at the same time a further delivery is required to more comprehensively restore credibility The management acknowledges that rising costs create headwinds. Although we assume that they stand against a faster margin im...
PORR Q1 22 - Break-even pre-tax profit in Q1 makes an encouraging star...
15% output growth basically evenly spread across segments EBITDA improvement, positive EBIT and break-even EBT represent a solid achievement Order intake down yoy but backlog slightly exceeds EUR 8 bn threshold Still no firm guidance for FY 22 We have a positive view on the results release
Raiffeisen Research Institutional Equity Daily 30.05.2022
AT: Flughafen Wien - Management reiterated at AGM to likely hike the FY guidance (positive) AT: PORR - Break-even pre-tax profit in Q1 makes an encouraging start, still no FY 22 guidance (positive) AT: S IMMO - Strong rental income dynamics continue, results ahead of expectations (positive) AT: STRABAG - AGM rescheduled to 24 June, Deripaska filled revocatory action against recent EGM's resolution (neutral) AT: Warimpex - Solid operating performance, however non-cash FX and Russian val...
PORR Q4 21 - FY 21 results and dividend overall a bit better than assu...
As assumed output guidance slightly surpassed, EBT margin at the upper end of the range Dividend distribution resumed at EUR 0.50 vs. RBIe EUR 0.40 Cash flow and debt reduction clearly ahead of our projection but fuelled by pre-payments No firm outlook for FY 22 but wording that upward trajectory to mid-term margin target is intact suggests rising profitability, backlog should safeguard top-line growth
Raiffeisen Research Institutional Equity Daily 28.04.2022
AT: PORR - FY 21 results and dividend overall a bit better than assumed, CF supported by pre-payments, no detailed FY 22 guidance (positive) AT: S IMMO - Valuation effects and solid hotel result drive earnings beat (positive) CZ: Moneta Money Bank - Q1 22 net profit of CZK 1.29 bn meeting consensus / 2022-2025 outlook confirmed DE: Baader Bank - Solid start into the year with PBT in Q1 22 beating our expectations by 16% / further increase in managed accounts (positive) PL: Bank Pekao -...
Raiffeisen Research Institutional Equity Daily 05.04.2022
AT: Andritz - Andritz to supply Metris platform to Forsyning Helsingor in Denmark (neutral) AT: PORR - Cartel fine legally binding (neutral) HR: Podravka - DPS of HRK 13 to be paid to shareholders (positive) RO: Medlife - Medlife bought 100% of Life Med (positive) RU: Moscow Exchange - March 2022 statistics: account balances grow 4x yoy and 2.5x mom, the currency split undisclosed; total trading up 71% yoy (positive)
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
UNIQA INSURANCE GROUP AG
EVN EVN AG
MMK MAYR-MELNHOF KARTON AG
OMV OMV AG
PGN POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA
PKO PKO BANK POLSKI S.A.
KOMB KOMERCNI BANKA A.S.
VOE VOESTALPINE AG
ARHOF AMREST HOLDING
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
VER VERBUND AG CLASS A
POS PORR AG
LNZ LENZING AG
ROS ROSENBAUER INTERNATIONAL AG
PAL PALFINGER AG
WIE WIENERBERGER AG
SEM SEMPERIT HOLDING AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
LPP LPP S.A.
CCC CCC SA
WXF WARIMPEX FINANZ UND BETEILIGUNG
OTP OTP BANK NYRT
VIG VIENNA INSURANCE GROUP AG WIENER VERSICHERUNG GRUPPE
PYT POLYTEC HOLDING
ZAG ZUMTOBEL GROUP AG
ANDR ANDRITZ AG
STR STRABAG SE
FLU FLUGHAFEN WIEN AG
FACC FACC AG
PODR-R-A PODRAVKA D.D.
ATGR-R-A ATLANTIC GRUPA
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
BG BAWAG GROUP AG
COTE CONPET SA
AMAG AMAG AUSTRIA METALL AG
AGR AGRANA BETEILIGUNGS-AG
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
ERNT-R-A ERICSSON NIKOLA TESLA D.D.
WINE PURCARI WINERIES PCL
KOEI KONCAR GROUP
Raiffeisen Research Institutional Equity Daily 17.12.2021
ATX indices review - FFF and NoS changes in BAWAG Group, Erste Group, Marinomed Biotech, PORR; CECE index review - FFF and NoS changes in Avast, CEZ, Erste Group, MOL; FTSE Index December review - No changes of index constituents in our Coverage Universe STOXX Europe 600 Index review - No changes of index constituents in our Coverage Universe WIG index review - WIG30 add: Pepco; Del: Kruk; AT: Andritz - Hydro order for EUR > 100 mn from Malaysia (neutral) AT: Verbund - Verbund rumo...
PORR reduced its risk exposure resulting in an upgrade to Slightly Pos...
PORR (AT), a company active in the Heavy Construction industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 2 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date December 14, 2021, the closing price was EUR ...
Raiffeisen Research Institutional Equity Daily 09.12.2021
ATX indices review - FFF and NoS changes in BAWAG Group, Erste Group, Marinomed Biotech, PORR AT: IMMOFINANZ - Adjustment of the conversion price of convertible bonds (negative) PL: LPP - Strong Q3 with EBITDA 27% ahead of consensus (positive) RO: Electrica - Electrica acquires for EUR 4.3 mn a photovoltaic farm project company from Monsson Group while EGM rejects the proposed acquisition of 5 renewable energy producers (positive) RO: Medlife - Medlife increases the syndicated credit f...
PORR raised to BUY, TP EUR 16 - Clearing the hurdles - Vol. II
We upgrade PORR to BUY from HOLD with a new a target price of EUR 16 (vs. EUR 17.5 before) In our Company Update from December 2020 we pointed out three hurdles that needed to be cleared for PORR shares to re-rate. These comprised 1) a higher equity ratio, 2) clarity on the Austrian cartel case and 3) the establishment of a track record after a weak financial performance in recent years We we believe that hurdles #1 and #2 have been cleared, #1 at least to a satisfying extent given the recent ca...
Raiffeisen Research Institutional Equity Daily 29.11.2021
AT: PORR - Sound Q3 results, FY 21 guidance reiterated, upper end appears within reach (positive) AT: Verbund - Verbund acquired approx. 150 MWp solar park in Spain (neutral) AT: Warimpex - Q3 result broadly in line with expectations, new leases signed (neutral) RO: Transgaz - Secured a RON 220 mn credit facility for network investments (neutral) SI: NLB Group - 25 bps hike in capital requirement (neutral)
Raiffeisen Research Institutional Equity Daily 04.11.2021
AT: Andritz - Andritz received significant, high triple-digit pulp mill order (positive) AT: AT&S - Top-line guidance upgrade, but somewhat disappointing adj. EBITDA margin (positive) AT: CA Immo - Core shareholder Starwood calls for special dividends totalling EUR 5 per share (positive) AT: PORR - Company completed capital increase AT: Verbund - Q3 results above expectations on stronger short-term pricing, network results beat, FY guidance confirmed (positive) CZ: Komercni Banka - Q...
PEO BANK POLSKA KASA OPIEKI SA
PKO PKO BANK POLSKI S.A.
KOMB KOMERCNI BANKA A.S.
WIZZ WIZZ AIR HOLDINGS PLC
VER VERBUND AG CLASS A
SPL SANTANDER BANK POLSKA SA
POS PORR AG
MIL BANK MILLENNIUM SA
CAI CA IMMOBILIEN ANLAGEN AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
GNB GETIN NOBLE BANK SA
ANDR ANDRITZ AG
ALR ALIOR BANK SA
BRD BRD-GROUPE SOCIETE GENERALE
SBNC SBERBANK RUSSIA PJSC SPONSORED ADR
EL SOCIETATEA COMERCIALA DE DISTRIBUTIE SI FURNIZARE A ENERGIEI ELECTRICE ELECTRICA
FP S.C. FONDUL PROPRIETATEA S.A.
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
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