Mota-Engil's profits increase 54% in the first quarter to 20 million
Mota-Engil announced that it recorded, in the first quarter of this year, profits attributable to the group of 20 million euros, an increase of 54% compared to the same period in 2023.
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Economia Mercado
According to the group, which released its 'trading update', in the same period, the volume of business increased by 7% year-on-year, reaching 1,352 million euros and EBITDA (earnings before interest, taxes, depreciation and amortisation) increased by 22% to 196 million euros, "driven by the improvement in profitability in all business segments".
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In the engineering and construction segment, the company's turnover increased by 8% to 1,210 million euros, with the group pointing to "resilient growth, despite the very strong activity of past periods, and with all regions showing a positive performance".
In the environmental area, the turnover was 130 million euros, growing 3% year-on-year.
Mota-Engil Capital and MEXT, which bring together the group's most recent business areas, achieved a turnover of 32 million euros, he stressed.
Mota-Engil also highlighted a "new record for the order book", with 14 billion euros.
According to the group, 2.6 billion euros of contracts were awarded in the first quarter of this year, mainly for engineering and construction in Africa.
Thus, the group's core markets weigh "77%, with Angola representing 24%, followed by Mexico, with 20%, and Nigeria with 16%".
"The order book indicates a positive trend in turnover in 2024", he said.
On the other hand, "following the agreement to sell the operations in Poland, it no longer contributes to the portfolio", and in December last year, it represented 305 million euros.
As for the prospects for the future, the group highlighted its "focus on new contracts with a selection criterion directed towards large-scale projects".
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