Mota-Engil Group’s profits reached the highest level in its history, posting a year-on-year increase of 120% to €113 million in 2023, the Portuguese construction company informed the Portuguese Securities Market Commission (CMVM) on Monday, September 4.
This figure from the company, led by Carlos Mota Santos, reflects “a performance that combined strong business growth with improved net profitability, thus achieving one of the most relevant priorities set by Mota-Engil Group in its Strategic Plan up to 2026,” the statement indicated.
The construction company’s turnover also surpassed €5 billion for the first time, increasing 46% (€3.80 billion) compared to the previous year, with EBITDA (earnings before interest, taxes, depreciation, and amortization) rising 55% year-on-year to €837 million.
The EBITDA growth was also reflected in the operating result (EBIT), which more than doubled to €516 million, with a margin of 9% compared to 6% in 2022.
The Group attributes this overall growth to a 54% increase in the engineering and construction segment and “significant growth” in all geographies where it operates, highlighting Latin America, which grew 81% and reached “an unprecedented milestone in a region where it is currently one of the five largest construction companies,” as well as Africa (+28%) and Europe (+31%).
Last year, Mota-Engil also made a substantial investment (CAPEX of €513 million), focusing on medium- and long-term contracts, “continuing a selective and strategic investment approach in core markets such as Portugal, Mexico, Angola, and Nigeria, as well as in business areas with recognized potential for growth and future asset appreciation,” the document states.
In its 2023 results, the company also highlighted the strengthening of its order book to €13 billion, representing the second-best level ever, with €6 billion in new contracts. “This demonstrates our ability to renew while improving quality, focusing on core markets and reinforcing the prospects of maintaining, in 2024 and beyond, the virtuous cycle of sustainable growth aligned with the growth and profitability objectives set in the Strategic Plan up to 2026,” the statement added.
Source: Diário Económico
