Mota-Engil records €5M loss H1 2020
On the first six months of the year, the Mota-Engil's turnover fell 14% to €1.2 billion and Covid-19's impact accounted for €280 million euros.
Mota-Engil on Thursday announced a loss of €5.04 million, compared to €8.13 million profit in the same period of the previous year.
In a statement to the Securities Market Commission (CMVM), Mota-Engil informs that “the group’s activity in the first half of 2020 was affected by the impacts caused by the pandemic, with the Engineering and Construction (E&C) business being the most affected as a result of production interruptions/stoppages, sometimes caused by restrictive public health measures implemented in the various countries where the group operates, sometimes caused by logistical difficulties in moving people, equipment and goods”.
On the first six months of the year, the group’s turnover fell 14% to €1.2 billion and Covid-19’s impact accounted for €280 million euros.
The group refers to have a record order book of €5.5 billion.
Before the opening of the market, the Mota-Engil group announced a strategic partnership and investment agreement with a large infrastructure group, without identifying it, which will remain with 30% after a capital increase.
In an announcement sent to the Securities Market Commission (CMVM), the group indicates that it is in the final phase of negotiations of a strategic partnership and investment agreement “with one of the largest infrastructure groups in the world, with significant activity at a global level.”
