Portugal's Mota-Engil reports 51% profit jump, record order book

Mota-Engil, SGPS

19/11/2024 08:27

LISBON, Nov 19 (Reuters) - Portugal's largest builder
Mota-Engil said on Tuesday its nine-month net profit jumped 51%
on strong sales and said its order book hit a record high 14.8
billion euros ($15.66 billion).   
    The construction company, which operates in more than 20
countries across Africa, Europe and Latin America, booked a
consolidated net profit of 77 million euros for the January to
September period, up from 51 million a year earlier.
    Overall sales rose 3% to 4.15 billion euros, with Latin
America, which is the main driver of the group's growth,
increasing 11% to 2.2 billion euros. Sales in Europe fell 8%,
while sales in Africa dropped 3%.
    Earnings before interest, taxes, depreciation and
amortisation (EBITDA) increased 11% to 609 million euros.
    Mota-Engil's order backlog was bolstered by large projects
related to roads and railway infrastructure mainly in Mexico,
Angola and Nigeria.
    The builder, 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 = 0.9450 euros)

 (Reporting by Patrícia Vicente Rua; editing by Inti Landauro
and Jason Neely)
 ((patricia.rua@thomsonreuters.com; Reuters Messaging:
patricia.rua.reuters.com@reuters.net))