Mota-Engil SGPS SA

EGL

Equity

ISIN PTMEN0AE0005 / Valor 1185909

Euronext Lisbon (2026-10-09)

EUR 4.65+1.40%

Mota-Engil SGPS SA
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About company

Mota-Engil SGPS SA is a prominent Portuguese construction and infrastructure company, recognized as one of the top 25 largest construction groups in Europe. The company operates in 21 countries across Europe, Africa, and Latin America, managing a portfolio of over 200 subsidiaries. Mota-Engil's business activities encompass a wide range of sectors including civil construction, public works, port operations, waste management, and logistics. The company is known for its integrated strategic vision, aiming to enhance its international presence and competitiveness through innovation and a commitment to quality.

Summarized from source with an LLMView SourceSector: Industrials

Key financials

Turnover €5,301m (‑11% YoY); EBITDA €979m (+4% YoY) with 18% margin (+300 bps YoY); Group net profit €133m (+9% YoY; 2.5% net margin). EBT €381m. Net financial charges increased reflecting higher capital employed in long‑term projects.

Backlog and awards

Record backlog €16.153bn, providing ~3 years of E&C visibility. Core markets account for 72% of E&C backlog (Mexico 22%, Angola 18%, Portugal 12%, Nigeria 8%). Approximately €5bn awarded in 2025 and €4.5bn of new awards since July, including major rail, refinery and concession projects.

Regional and segment performance

Africa E&C grew strongly (E&C turnover €2,129m, +22% YoY). Industrial Engineering surged (+73% YoY to €724m) with a 30% EBITDA margin. Europe was affected by Portugal project/tender delays and the 2024 Polish divestment (Europe turnover €428m). Latin America declined (turnover €2,006m, ‑33%) due to Mexico transition, but margins remained resilient.

Cash flow, capex and investments

Cash flow from operations €924m (+27% YoY); positive free cash flow €128m. Net capex disciplined at €396m (capex/revenue ~7%), with 64% directed to Industrial Engineering & Energy. Financial (equity) capex prioritized long‑cycle concession assets (Lobito Corridor, Mexican concessions, Portuguese high‑speed stretch, Mamaland).

Debt, liquidity and funding

Net debt €1,941m (Net debt/EBITDA 1.98x, below the 2.0x strategic threshold). Gross debt €3,421m. Liquidity €1,631m (cash & sovereign bonds €809m approx. and undrawn facilities €822m). Average gross debt maturity ~2.8 years; average cost of gross debt 7.1% (‑60 bps YoY).

Profitability drivers and outlook

EBITDA margin expanded to 18% driven by mix shift to higher‑margin industrial engineering, Africa projects and the Environment business (Environment turnover €652m, +15%; EBITDA margin 23%). 2H25 net margin reached 2.9%, structurally near the Group 2026 net margin target of 3%.

ESG and strategic positioning

Sustainability credentials strengthened (ESG score improved to 60; award for “Most Improved ESG Program”). Strategic priorities include selective bidding, asset rotation, disciplined capital allocation and continued deleveraging toward sub‑2.0x Net debt/EBITDA.

Summarized from source with an LLMView Source

Key figures

-19.3%1Y

59.5%3Y

250%5Y

Performance

39.3%1Y

42.6%3Y

39.1%5Y

Volatility