Mota-Engil

Aug 31, 2023

August 30, 2023 Mota-Engil registered a net result of 30 million euros in the first half of this year, which represents an increase of 154% compared to the profits presented in the same period of 2022 (12 million), and which is “the best of the last seven years in the first semester”. In a statement to the CMVM, the company led by Carlos Mota dos Santos (in the photo) highlights the record value of turnover, which reached 2,558 million euros, 89% more than the 1,354 million announced a year ago. A value very close to that achieved in the year 2021 as a whole (2,592 million). For this growth, Mota-Engil points out that all business areas showed a minimum double-digit growth in the first half, with the core business of engineering and construction showing an increase of 104%. The group’s EBITDA reached 352 million euros, surpassing the previous maximum in the first half of 2022, which was 207 million euros, with growth of around 70%. Investment (Capex) amounted to 187 million euros, “in order to support the strong growth registered in the activity”, of which 68% was allocated to medium and long-term contracts. In the first half of 2022, investment had been 108 million. “The Mota-Engil group was able to combine strong operational growth with the focus on profitability and cash generation – worth 174 million euros, 22% more than the same period last year -, which allowed the maintenance of the debt ratio in the first half net/EBITDA below 2x”, an objective that it had only expected to reach in 2026, but which it has achieved in the last two semesters. In the first half of the year, the group maintained its order book at the record levels of 12.6 billion euros reached in December, “to which are added the approximately 2 billion euros of new contracts signed after June” , points out. Based on these results, Mota-Engil also announced an upward revision of its forecasts for 2023. Initially, the construction company forecast a turnover growth of more than 20% this year, now estimating to reach 5 billion euros by the end from 2023. Latin America grows 208% By business area, the group highlights Engineering and Construction, which more than doubled (104%) its turnover to 2,289 million euros. In Latin America alone, growth reached 208%, with the group earning 1,326 million in the first half of this year, when in the same period of 2022 it stood at 430 million. In Africa, the increase in turnover was 50% to 676 million, with Angola, Mozambique and Nigeria as the main markets. In Europe, the increase in turnover stood at 16% to 291 million euros, with the Portuguese market accounting for 70% of activity on this continent. With regard to the Environment business, Mota-Engil highlights the 16% growth in turnover, which reached 254 million euros. The business areas concentrated in Mota-Engil Capital and MEXT achieved an increase of 33% to 64 million euros.