Mota-Engil announces record turnover. Profits grow
Construction company achieved profits of 27 million euros, benefiting from a record turnover: 2.84 billion euros.
The company led by Gonçalo Moura Martins achieved a turnover of 2.84 billion euros, which helped the construction company to increase profits.
After disclosing the unaudited figures, the company has now submitted the final accounts. Net results grew by 13% to 27 million euros, while EBITDA grew 3% to 420 million euros. In Europe, it increased 23% “benefiting from improved profitability in Engineering and Construction,” says Mota-Engil.
2.84 billion, a number that represents a new historic high. This turnover counted with the “contribution
balanced between regions and with non-construction business accounting for 19% of the total,” explains the construction company. Europe and South Africa had the biggest weight in the company’s accounts.
The order book reached 5.4 billion euros at the end of last year. This figure, although high, represents a drop compared to the one presented a year earlier. At the end of 2018, it was 5.5 billion euros.
The “net investment of around 260 million euros” compared to 287 million a year earlier, which partly explains the increase in consolidated net debt to 1.185 billion – at the end of 2018 was 953 million euros. The average cost of debt was 5.2% at the end of 2019.
