Mota-Engil profits up 54% in Q1

 In Companies, Construction, News

The Portuguese construction company Mota-Engil saw profits soar by 54% in the first quarter of the year.

Bringing in €20 million, it was the company’s best Q1 results in its history. Business turnover rose to €1.35Bn, a growth of 7% like-for-like. EBITDA enjoyed a significant increase of 22% to €196 million.

These results are accompanied by record orders that exceeded €14Bn, boosting the group’s capacity to achieve the strategic objectives it has outlined for the next few years.

The Mota-Engil Group achieved growth of 8% in Engineering and Construction with Latin America making the greatest contribution (+9% with €713 million) while Mexico is the largest market for the company.

Africa saw growth of 6% to €356 million, while the company’s business in Europe was up 5% to €141 million, a growth that enabled the margin on EBITDA to increase to 15%.

In Portugal, Mota-Engil is competing in the competition to build the high-speed rail line between Lisbon and Porto and will deliver an estimate for the stretch of line between Porto and Oiã (Aveiro) for a project that its president, Carlos Mota has said is “complex” while the budget is a “challenge”.