Portugal's Mota-Engil first-half profit up 65%, order book hits record

Mota-Engil, SGPS

28/08/2024 08:55

LISBON, Aug 28 (Reuters) - Portugal's largest builder
Mota-Engil said on Wednesday strong sales drove a 65% rise in
first-half net profit, adding that its order book hit a record
13.7 billion euros ($15.28 billion).    
    The construction company, which operates in more than 20
countries across Africa, Europe and Latin America, booked a
consolidated net profit of 49 million euros for the January to
June period, up from 30 million euros a year earlier.    
    Overall sales rose 7% to 2.7 billion euros, with Latin
America, which is the main driver of the group's growth,
increasing 12% to 1.5 billion euros.
    In Europe, sales increased 2% to 297 million euros, while in
Africa they fell 3% to 659 million euros. 
    Earnings before interest, taxes, depreciation and
amortisation (EBITDA) increased by 12% to 396 million euros.    
    Mota-Engil's order backlog reached an all-time high of 13.7
billion euros, up from 12.9 billion at the end of 2023,
bolstered by large projects related to roads and railway
infrastructure mainly in Angola, Mexico and Nigeria.  
    Mota-Engil, which is 40% owned by the Mota family and 32.41%
by China Communications Construction Company Ltd  601800.SS ,
said the record backlog supports a "positive future evolution".
($1 = 0.8968 euros) 

 (Reporting by Patrícia Vicente Rua; Editing by Inti Landauro
and Alexander Smith)
 ((patricia.rua@thomsonreuters.com; +351 21 123 2775; Reuters
Messaging: patricia.rua.reuters.com@reuters.net))