Mota-Engil SGPS SA

Latest Results (13.06.2024):

1. Revenue and EBITDA Growth

In 2023, Mota-Engil SGPS SA reported a significant increase in turnover, which rose by 46% year-over-year to €5,552 million. This growth was primarily driven by robust order intake and exceptional execution in the Engineering and Construction (E&C) sector. Additionally, EBITDA saw a 55% increase from the previous year, reaching €837 million, with the EBITDA margin expanding to 15%, supported by improved profitability across E&C operations.

2. Net Profit Increase

Mota-Engil SGPS SA achieved a record net profit in 2023, amounting to €113 million, which represents a net margin of 2%. This result marks a substantial improvement compared to the previous year, reflecting the company's effective cost management and strategic operations enhancement, particularly in its core markets such as Mexico, Nigeria, and Angola.

3. Backlog Expansion

The company's backlog reached a new high of €12,566 million in 2023, thanks to strong order intake and support from large-scale projects. This backlog sets a solid foundation for future revenue streams and indicates a comfortable E&C Backlog/Revenue ratio of 2.6 years. Notably, the backlog does not yet account for €1.6 billion of new contracts awarded in early 2024, promising continued growth.

4. Major Projects and Capex

In 2023, Mota-Engil SGPS SA managed significant projects contributing to a backlog that includes major initiatives such as the Kano-Maradi-Dutse railway project in Nigeria and the Tren Maya in Mexico. The company also reported a capital expenditure (capex) of €513 million, aligned with increased activity and investment in new long-term contracts across various regions, maintaining a stable capex to revenue ratio at 9%.

5. Strategic Outlook and ESG Focus

Mota-Engil SGPS SA is strategically positioned to meet its revised targets for 2026, focusing on core markets, larger projects, and concessions to enhance efficiency and profitability. The company is also committed to improving its ESG (Environmental, Social, and Governance) performance, with an S&P Global ESG score above the industry mean, reflecting its dedication to sustainable and responsible business practices.