Portuguese builder Mota-Engil more than doubles 2023 profit

Mota-Engil, SGPS

05/03/2024 09:30

LISBON, March 5 (Reuters) - Mota-Engil  MOTA.LS  more
than doubled its 2023 net profit on record high sales,
Portugal's largest builder said on Tuesday, while demand boosted
its order book to an unprecedented 13 billion euros ($14.1
billion).    
    Net profit reached 113 million euros on sales up 46% to a
5.55 billion euros, said the company, which operates in more 20
countries across Africa, Europe and Latin America.
    Earnings before interest, taxes, depreciation and
amortisation (EBITDA) increased by 55% to 837 million euros,
while its EBITDA margin rose to 15% from 14%.   
    It saw strong momentum in its engineering and construction
business especially in Latin America, where sales jumped 81% to
2.75 billion euros. 
    Its project order book includes railways in Mexico, oil and
gas in Brazil and mining in Peru. It rose 3% to 13 billion euros
following large railway projects awarded mainly in Mexico,
Nigeria and Angola. 
    Turnover in Africa rose 28% to 1.5 billion euros. In Europe,
sales increased 31% to 666 million euros, 69% of which were in
Portugal, where the company was awarded subway expansion works,
the construction of a new hospital in Lisbon and is in the
running for a high-speed train project.
    The builder added it had agreed to sell its operation in
Central Europe for about 90 million euros.    
    Mota-Engil is 40% owned by the Mota family and 32.41% by
China Communications Construction Company Ltd  601800.SS .
    ($1 = 0.9219 euros)

 (Reporting by Patrícia Vicente Rua; editing by David Latona and
Jason Neely)
 ((patricia.rua@thomsonreuters.com; +351 21 123 2775; Reuters
Messaging: patricia.rua.reuters.com@reuters.net))