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Teixeira Duarte reduces losses to 3 million in 2023
Teixeira Duarte had losses of three million euros in 2023, below the losses of 14.9 million euros in 2022, it announced to the market.
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Economia Teixeira Duarte
In the report and accounts disclosed in the Securities Market Commission (CMVM) on Tuesday night, the company's chairman, Manuel Teixeira Duarte, says that "the level of taxes assessed [26 million euros] led the group to record negative net results in the amount of three million euros," adding that the evolution of the financial position, which he attributed mainly to the devaluation of the kwanza (the currency of Angola, a country where the company has a strong presence), also penalized the group.
Sales and service provisions amounted to 767 million euros in 2023, down 8% compared to 2022, with the construction activity representing 67% of these sales.
EBITDA (earnings before interest, taxes, depreciation, and amortization) grew 30% to almost 77 million euros.
By sector of activity, real estate contributed almost 35 million euros to EBITDA, hotels with 21 million euros, concessions and services with eight million euros, distribution with eight million, construction with seven million euros, automobiles with four million and there are 6.7 million negative from non-segment activities.
At the end of 2023, net debt was 647 million euros, 50 million euros less than in 2022.
The Teixeira Duarte Group states, in the report and accounts, that it operates in 21 countries and has 8,689 employees.
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