Austria’s largest construction group, Porr AG, saw its shares plunge 8.5% on Thursday after releasing weaker-than-expected half-year results and a steep decline in new orders.
The company reported revenue of €1.68 billion for the first six months of 2026, down 3.5% from analyst expectations and a modest year-over-year decline. Earnings before interest and taxes (EBIT) totaled €42 million, beating forecasts by about 8% and rising roughly 16% compared with the same period last year, lifting the EBIT margin to 2.5%.
The selloff followed Porr’s announcement of a sharp drop in order intake, raising concerns about the company’s near-term revenue pipeline. Montega AG, which had reaffirmed a buy recommendation on Porr just three days prior, maintained a twelve-month price target of €46. The brokerage cited major infrastructure wins, including the Brenner Base Tunnel and Munich’s second S-Bahn trunk line, as key drivers of its outlook.
Porr’s stock had been trading near multi-year highs before the decline, suggesting the move was driven by company-specific factors rather than broader market conditions. U.S. equity benchmarks, including the S&P 500 and Nasdaq, were trading higher at the time of the drop.
Vienna-listed peer Strabag SE, which operates in similar Central European construction markets, has faced comparable structural challenges, adding to sector concerns. The weak order intake and revenue miss underscore ongoing pressures in the region’s construction sector despite Porr’s EBIT beat.
