LISBON (Reuters) – Portugal’s largest builder Mota-Engil said on Tuesday its nine-month net profit jumped 51% on strong sales and said its order book hit a record high 14.8 billion euros ($15.66 billion).
The construction company, which operates in more than 20 countries across Africa, Europe and Latin America, booked a consolidated net profit of 77 million euros for the January to September period, up from 51 million a year earlier.
Overall sales rose 3% to 4.15 billion euros, with Latin America, which is the main driver of the group’s growth, increasing 11% to 2.2 billion euros. Sales in Europe fell 8%, while sales in Africa dropped 3%.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 11% to 609 million euros.
Mota-Engil’s order backlog was bolstered by large projects related to roads and railway infrastructure mainly in Mexico, Angola and Nigeria.
The builder, which is 40% owned by the Mota family and 32.41% by China Communications Construction Company Ltd, said the record backlog supports a “positive future evolution”.
($1 = 0.9450 euros)
(Reporting by Patrícia Vicente Rua; editing by Inti Landauro and Jason Neely)
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Publish date : 2024-11-18 19:29:00
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