Mota-Engil's profit hits record €123 million in 2024

Mota-Engil recorded profits of 123 million euros in 2024, which represents an increase of 8% compared to the 113 million recorded in 2023.

In a statement to the CMVM, the group led by Carlos Mota dos Santos (pictured) highlights having obtained "the best results ever" last year, with " record turnover, EBITDA and net profit", bringing forward the targets defined in the strategic plan for 2026 by two years .

The group's turnover reached 5,951 million euros, increasing 7% compared to the previous year. EBITDA grew 14% to 955 million euros, with the margin reaching 16%, with the company highlighting in the same note "the unprecedented levels of activity and profitability".

Highlighting the two-year anticipation of some of the main objectives defined in "Building´26" – such as turnover, EBITDA margin and net debt/EBITDA ratio, the group reveals that it will begin drawing up a new strategic plan in 2025 with new objectives until 2030 .

Regarding financial performance, Mota-Engil maintained in 2024, as in previous years, a net debt/EBITDA ratio below 2 times (1.8 times), despite having made investments totaling 511 million euros , of which 76% in growth areas such as the environment and industrial engineering. Net debt was 1,732 million in December.

By business areas, the group highlights the growth in turnover in all business areas, which was 8% in engineering and construction, 10% in the environment and 5% in Mota-Engil Capital and MEXT.

In the engineering and construction sector, turnover grew by 15% in Africa to €1.748 billion and by 8% in Latin America to €2.976 billion. In Europe, after the sale of operations in Poland in September, turnover fell by 12% to €583 million.

The order book reached 15.6 billion euros, with 8 billion euros awarded in 2024 alone . The value compares with 12.9 billion in December 2023.

In Portugal alone, the order book reached 928 million euros, an increase of 57% compared to 2023, essentially due to the new Lisboa Oriental Hospital.

"The historic level of order book reinforces the conviction for the continuation of a virtuous cycle and sustainable growth for the coming years, based on markets and activity segments with higher average margins in the group's portfolio, which will ensure support for the continuation of margins higher than the Industry at an international level", he states.

In terms of outlook for 2025, the group expects single-digit growth in turnover, with Africa being the main driver of profitability in the coming years. It also targets an EBITDA margin of 16% and the maintenance of an order book at historic levels focused on core markets and large-scale projects. For 2025, it also plans to strengthen its efficiency program, committing to maintain the net debt/EBITDA ratio below 2 times and the gross debt/EBITDA ratio below 4 times, as well as progressing towards the objective of an equity/asset ratio above 15%.