Mota-Engil nine-month turnover up 66%, on track for year-end goal

Mota-Engil, SGPS

14/11/2023 10:22

LISBON, Nov 14 (Reuters) - Portugal's largest builder
Mota-Engil  MOTA.LS  is on track to achieve its turnover goal of
5 billion euros ($5.36 billion) this year after posting a 66%
jump in January-September as well as record orders, the company
said on Tuesday.     
    The construction company, which operates in 20 countries
across Africa, Europe and Latin America, booked overall sales of
4.02 billion euros ($4.30 billion) in the first nine months.
    Turnover in Latin America grew 129% to nearly 1.98 billion
euros, followed by Africa, where sales rose 31% to 1.06 billion
euros. In Europe, they increased 30% to 498 million euros.
    Net attributable profit reached 51 million euros in the nine
months, but Mota-Engil, which usually posts results every six
months, did not provide a year-ago comparison. Full-year profit
reached 41 million euros in 2022.
    Earnings before interest, taxes, depreciation and
amortisation (EBITDA) rose by 56% to 551 million euros, with the
EBITDA margin dipping to 14% from the previous year's 15%.    
    The company's order backlog hit an all-time high of 13.6
billion euros, up from 12.6 billion at the end of 2022,
bolstered by large projects mainly in Angola, Nigeria and Mexico
related to railway infrastructures.     

($1 = 0.9335 euros)

 (Reporting by Patrícia Vicente Rua; Editing by Andrei Khalip)
 ((patricia.rua@thomsonreuters.com; +351 21 123 2775; Reuters
Messaging: patricia.rua.reuters.com@reuters.net))