The construction sector came to have at least three major construction groups to join the main index of the Lisbon stock exchange, but the “destruction of the construction sector,” the term that was used by António Mota in an interview Publico, left this North construction not only isolated in the PSI 20, as the only one that continues to show positive results. With the presentation of the interim results of builders realize that the difficulties are still installed. Mota-Engil has managed to improve the results, Teixeira Duarte had losses and Soares da Costa is seeking to survive through a special process Revitalization (PER) which is taking place in the Vila Nova de Gaia Court. Tuesday is the deadline for creditors claim dues amounting to EUR 700 million.
In the case of Mota-Engil, were sales of the logistics business (from the sale of Tertir group) and Indaqua that helped the company to improve net results of the group. At the end of the first half of this year net profit was 73 million euros, against 13 million in the same period last year. Despite this improvement, which also extends to the reduction of 234 million euros in net debt assigned to the group (which now stands at EUR 1221 million), the disclosure of interim results show that the turnover of the group is falling and that Latin America is assuming increasing importance in the group’s accounts.
As António Mota had already anticipated in the interview with Publico, not be long before that area of the globe, with the Mexico to take the lead, have a higher turnover in the traditional market – in Angola. The domestic market had lost its importance long -. And this is one reason that leads the Chairman of the construction to say that the construction sector in Portugal was destroyed
The volume business amounted to 1036 million euros, a decrease of 4% over the same period. Latin America accounts for 344 million, after rising 19% over the previous period. Already the European market, which is still the most relevant to the Mota-Engil Group, shrunk 110%, allowing a turnover of 410 million euros. The African market has 335 million
According to the annual report, the profit before tax, interest and amortization (EBITDA) increased by 3% over the same period, to 149 million euros. The order book stood at 30 June 2016 in 4.6 billion euros, “reflecting portfolio ratio of orders / sales and provision of engineering services & amp; construction of 2.1 years and supporting the vision of growth in the medium and long term. ” The group intends to present soon its strategic plan for 2020.
In the case of Teixeira Duarte, net results remain in negative territory, at EUR 35.7 million (up 24.2 million the same period), “despite the improved operating performance of the group companies over the first half of the previous year,” reads the report submitted to the Securities market Commission (CMVM) on Monday late afternoon. With strong presence in the Angolan market, Oeiras the construction complains particularly of the variability of exchange differences and loss on impairment charges brought by participation in the Commercial Portuguese Bank (BCP).
The construction company has 83, 2% of its total turnover in foreign markets, so the variation of the exchange differences have particular impact on its results. If the first half of 2015 this variation was favorable to Teixeira Duarte on almost 19 million euros, this year the impact was negative at EUR 23.7 million.
The negative impact of the impairment loss on stake in BCP was 14.8 million euros. Only in the second quarter of this year, from 13.3 million euros negative that have been declared by the company in connection with the BCP meant to EUR 8.4 million.
The turnover of Teixeira Duarte was in first half of 2016 of 570 million euros, “reflecting a 16.7% decrease over the same period of 2015.”
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