Teixeira Duarte posts €20M debt

 In Construction, News

The Portuguese construction company Teixeira Duarte recorded debts of nearly €20 million in the first half of 2021.

The amount of debt rose compared to the same half in 2020 when the company’s debt stood at €5.4 million.
According to information sent to the stock market commission CMVM, the construction company’s operational income stood at €310 million, below the €360 million recorded for the first half of 2020.
Between January and June, the company’s EBITDA results were €25.6 million when for the same period last year that figure stood at €44.2 million.
In turn, operational costs fell 9.9% in the first six months of the year to €284.9 million.
The company’s financial results remained practically stable, going from €18.34 million to June 2020 to €18.34 million in the first half of the current year.
But business turnover which stood at €258.6 million to June 2021 had fallen 18.7% on June 2020.
“In Portugal there was a fall of 13.7% on the first six months of 2020, but this number does not express the good performance of the group’s real estate segment for this period,” states Teixeira Duarte in a communiqué.
Per segment of the company’s activity areas, construction business turnover fell from €164 million in H1 2020 to €154 million to June, 2021 while turnover for concessions and services fell 29.4% to €40.4 million.
It’s volume of real estate sector business contracted 69% to around €11 million, its hotel segment increased 26.3% to €15.5% to €27.8 million.
Last, its turnover in terms of vehicle components grew in this period by 25.4% to close to €10 million.