Mota-Engil sees European and Latin American growth
By Sandy Guthrie22 May 2015
Growth in Europe and Latin America has been reported by Portuguese-based group Mota-Engil for the first quarter of this year, although it said that there had been lower activity in Africa as a result of Angola’s weaker performance and the completion of the Nacala rail corridor project in Mozambique.
Overall, it said its turnover of €484 million was flat year-on-year, with the negative African contribution offset by Europe and Latin America.
It said that revenues outside Europe made up approximately 64% of the total figure. EBITDA (earnings before interest, taxes, depreciation and amortization) was said to be down 14% to €65 million.
The company – which is in construction, public works, port operations, waste, water and logistics – reported that its order book had expanded by €211 million to €4.6 billion, of which 78% was outside Europe.
Mexico was said to remain the largest country in terms of backlog, at €1.3 billion.
The engineering and construction sector in the first quarter reported turnover of €123 million, up 16% over the first quarter of last year, with Portugal and Central Europe making positive contributions.