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Porr: Analysts exercise restraint

In the first three quarters, production output at Porr drops by 7 percent. There is a pre-tax loss of 62 million euros (previous year: +14 million euros). For the year as a whole, the company is assuming a pre-tax minus between 45 million euros and 55 million euros. The pandemic plays an important role here.

The previous expectations of the analysts at SRC Research were therefore not cautious enough. A pre-tax loss of 47 million euros is now forecast for 2020 (old: +18 million euros).

In 2021 Porr wants to achieve a production output of EUR 5.3 billion to EUR 5.5 billion. The pre-tax margin should be between 1.3 percent and 1.5 percent. The analysts consider 5.25 billion euros and 1.0 percent to be realistic. From 2022 onwards, Porr’s future program is likely to result in a change in costs.

The analysts confirm the buy recommendation for the shares of Porr. This is made possible by the share’s recent price slide. The price target for the securities of Porr drops from 19.00 euros to 16.00 euros.

The shares of Porr lose 1.4 percent in the morning to 13.02 euros.

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