Mota-Engil profits reach historic record by rising 120% to 113 million in 2023

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The construction company’s turnover also reached five billion euros for the first time, having registered an increase of 46% compared to the previous year, with EBITDA (earnings before interest, taxes, depreciation and amortization) showing year-on-year growth. by 55%, to 837 million euros.

The profits of the Mota-Engil Group reached the best record in its history with a year-on-year increase of 120% to 113 million euros in 2023, the Portuguese construction company informed the Securities Market Commission (CMVM) this Tuesday, 5 of March.

This value of the company led by Carlos Mota Santos is in line with “a performance that combined strong growth in activity with an improvement in the Group’s net profitability, thus achieving one of the most relevant priorities that the Mota-Engil Group aims to achieve in the future. its Strategic Plan until 2026”, indicates the statement.

The construction company’s turnover also reached five billion euros (5,552 million euros) for the first time, having registered an increase of 46% (3,804 million euros), compared to the previous year, with EBITDA (profit before interest, taxes, depreciation and amortization) to see a year-on-year growth of 55%, to 837 million euros.

The increase in EBITDA was also felt in the operating result (EBIT), which more than doubled to 516 million euros, with a margin of 9% compared to the 6% recorded in 2022.

A global growth that the Group justifies with the increase in the engineering and construction segment by 54% and “relevantly” in all geographies where the construction company is present, with emphasis on Latin America, which with an increase of 81% achieved last year “an unprecedented milestone in a region where it is currently one of the five largest construction companies”, also highlighting Africa (+28%) and Europe (+31%).

Last year, Mota-Engil also made an investment (CAPEX of 513 million euros), with a strong focus on medium and long-term contracts, “pursuing the careful and selective investment strategy on markets core such as Portugal, Mexico, Angola and Nigeria, and in business areas with recognized potential for growth and asset appreciation in the future”, can be read in the document.

In its 2023 results, the construction company also highlights the reinforcement of the order book worth 13 billion euros, which represented the second best ever with six billion euros in new contracts, “demonstrating capacity for renewal with improvement of quality, focused on core markets and reinforcing the prospects of maintaining the virtuous circle of sustainable growth in 2024 and beyond and aligned with the growth and profitability objectives established in the Strategic Plan until 2026”, says the statement.