Builder Mota-Engil gets $1 billion in new Angola, Mexico deals, shares rise
January 23, 2024 at 05:53 am EST
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LISBON (Reuters) - Portugal's largest builder Mota-Engil has signed four contracts worth a total 975 million euros ($1.06 billion) in Angola and Mexico, strengthening the order book in Africa and Latin America - its main markets - and causing its shares to rise on Tuesday.
The company said late on Monday its new contracts with the Angolan government included the Corimba waterfront construction and social housing in the capital Luanda, as well as a border post on Angola's frontier with the Democratic Republic of Congo.
The three Angolan contracts are worth around 875 million euros.
In Mexico, the builder will participate in the construction of a road on the outskirts of Mexico City worth around 100 million euros.
Mota-Engil shares, which nearly tripled in value last year as post-pandemic construction activity boomed, were 2% higher in early trading, outperforming the broader market in Lisbon, down 1%.
The construction company, which operates in 20 countries across Africa, Europe and Latin America, posted overall sales of 4.02 billion euros ($4.30 billion) in the first nine months of 2023 and was on track to achieving its full-year turnover goal of 5 billion euros.
($1 = 0.9183 euros)
(Reporting by Patrícia Vicente Rua; Editing by Andrei Khakip)
Mota-Engil, SGPS, S.A. is a group organized around 6 sectors of activity:
- Engineering and Construction: Mota-Engil, SGPS, S.A. has developed construction projects in some fifty countries and is present on three continents (Europe, Africa and Latin America) where it has asserted its technical competence and reputation, excelling in the construction of various infrastructures such as roads, freeways, airports, ports, dams and railroads ;
- Industrial Engineering Services: the group has capitalized on its recognized presence and experience since 1998, with a proven ability to operate in numerous markets, reflected in medium-term contracts of between three and eight years;
- Environment: Mota-Engil, SGPS, S.A. began its activities in the environmental sector in Portugal in 1995, through the company SUMA in the urban waste management and collection segment, and added its skills to those of the company EGF, a leader in waste treatment and recovery. Internationally, Mota-Engil is increasingly developing its activities in this sector, in markets such as Angola, Mozambique, Cape Verde, Brazil, Oman and Côte d'Ivoire;
- Mota-Engil Capital: a business unit whose aim is to optimize value creation for the group through investment diversification, underpinned by integrated management of a range of assets and projects complementary to the Engineering, Construction and Environment segments.
- Mota-Engil Mext: unit responsible for differentiated areas such as Real Estate, Agroforestry Production and Energy. It also aims to strengthen investment in innovation and accelerate global transformation;
- Concessions: Mota-Engil, SGPS, S.A. operates, through Lineas and its subsidiaries, a network of some 2,500 km of roads and freeways, including the two bridges of the city of Lisbon. The business extends to international markets, mainly in Latin America.
MOTA-ENGIL, SGPS, S.A. 
