Record Order Book and Strategic Growth
The order book reached a quarterly record of EUR 13.2 billion with a 56% increase in order intake and 10% in revenue for Turner. The overall order book grew by 9.5% to almost EUR 13 billion, marking a record in the company's history.
Significant Net Profit Growth
Net profit increased by 16.7% on a comparable basis, with a reported growth of 8.4% in the first quarter, reaching EUR 177 million.
Strong Cash Flow and Debt Reduction
The group improved net operating cash flow by EUR 266 million compared to Q1 2023, resulting in a net debt position of EUR 1.6 billion, a reduction of more than EUR 300 million year-on-year.
Turner's Remarkable Performance
Turner reported a 10% revenue growth and a 56% increase in new orders, with a backlog reaching EUR 28.3 billion, growing by 22% year-on-year.
EBITDA and Profit Margin Improvements
EBITDA grew by 7.2% FX adjusted, with Turner and E&C contributing significantly to the margin improvement.