The Mota-Engil group achieved a profit of EUR 41 million in 2022, an increase of 69% compared to the same period of the previous year, according to the company’s results released today.
The 2022 results were impacted by a period marked by a 47% growth in activity “to an unprecedented level of sales of EUR 3.8 billion, an amount not expected to be reached until 2026 in the Strategic Plan that will be strength”.
“The recently awarded contracts that started this year have made it possible to anticipate the target, in a record strongly influenced by the 69% growth recorded in the second half of the year,” explains Mota- Engil, the company that built the stage altar for World Youth Day.
The value of EBITDA (earnings before taxes, fees and depreciation) amounted to 541 million euros, surpassing the 500 million euros milestone for the first time, says the construction company.
The ‘cash flow’ from operations increased by 47% year-on-year to EUR 608 million, which, according to the group, “contributed decisively to the reduction of net debt by 17% (-EUR 186 million), which stood at EUR 939 million in December. euros”.
At the end of 2022, the group presented “an improvement in net debt to EBITDA ratio to 1.7x, a target that is expected to be reached in 2026 on a path that is intended to be one from continuous evolution to growth that is intended to be gradual and sustainable in line with the established targets for 2026,” the company states.
The company also emphasizes that in 2022 it had “the best commercial performance in its history and reached record levels of commercial acquisition”, with a focus on Mexico and Angola, with an order book of 12.6 billion, more than double compared to 2020 .
By business line, the group highlights annual growth of 57% in engineering and construction activities, influenced by growth in Africa and Latin America.
On the financial front, the Mota-Engil group completed its investment plan (CAPEX) with EUR 351 million, reducing net debt to EUR 939 million, the lowest consolidated amount in the past five years.
Source: DN
