MOTA-ENGIL, SGPS, S.A. 1
Integrated report 2023
BUILDING
with PURPOSE
RELATÓRIO ÚNICO 2023
TABLE OF CONTENTS
1.1CONSOLIDATED MANAGEMENT REPORT OVERVIEW
1.1.1 | Message from the Chairman | 8 |
1.1.2 | Highlights 2023 and key events | 10 |
1.1.3 | Honours and 2023 in figures | 14 |
1.2 THE POWER OF A GROUP / THE MOTA-ENGIL GROUP
1.2.1 | The Mota-Engil World | 18 |
1.2.2 | Business areas | 19 |
1.2.3 | Building 26 for a Sustainable Future strategy | 23 |
1.2.4 | Governance model and governing bodies | 24 |
1.2.5 | Risk Management | 30 |
1.3 CONSOLIDATED MANAGEMENT REPORT
1.3.1 | Comparability of information | 43 |
1.3.2 | Economic and financial performance analysis | 44 |
1.3.3 | Analysis by business units | 50 |
1.3.4 | Mota‐Engil in stock market | 72 |
1.3.5 | Activity developed by the non-executive directors of the Board of Directors | 74 |
1.3.6 | Proposals for the application of results and distribution of corporate assets | 74 |
1.4 SUSTAINABILITY REPORT
1.4.1 | GENERAL INFORMATION | 76 |
I. | Strategic approach to sustainability | 77 |
II. | Sustainability Governance | 83 |
III. | Material topics | 86 |
IV. | Mota-Engil Group stakeholders | 88 |
1.4.2 | ENVIRONMENT INFORMATION | 92 |
I. | European taxonomy | 95 |
II. | Climate change | 101 |
III. | Water | 111 |
IV. | Use of resources and the circular economy | 114 |
1.4.3 | SOCIAL INFORMATION | 124 |
I. | Occupational health and safety | 124 |
II. | Talent management | 132 |
III. | Social responsibility | 150 |
IV. | Manuel António da Mota Foundation | 156 |
1.4.4 | GOVERNANCE INFORMATION | 162 |
I. | Business conduct | 162 |
II. | Supply chain management | 173 |
III. | Responsible investment | 178 |
IV. | Tax information | 179 |
V. | Quality and safety of products/services and critical incident management | 182 |
VI. | Innovation | 186 |
1.5
1.6
1.7
OUTLOOK FOR 2024 | 193 |
RELEVANT FACTS AFTER THE END OF THE FINANCIAL YEAR | 195 |
FINAL NOTE | 198 |
APPENDICES
I. | GRI Table | 201 |
II. | Correlation table | 269 |
Part TWO
2. CONSOLIDATED FINANCIAL INFORMATION
2.1 | Consolidated Income Statement by Natures | 286 |
2.2 | Consolidated Statement of Other Comprehensive Income | 287 |
2.3 | Consolidated Statement of Financial Position | 288 |
2.4 | Consolidated Statement of Changes in Equity | 289 |
2.5 | Consolidated Statement of Cash Flows | 290 |
2.6 | Notes to the Consolidated Financial Statements | 291 |
2.7 | Appendix A | 443 |
Part TREE
3. REPORT ON CORPORATE GOVERNANCE
3.1 Information on shareholder structure, Organisation and Corporate Governance | 457 |
3.2 Assessment of Corportate Governance | 506 |
Part FOUR
4. ANNEXES
4.1 Declaration under the terms of article 29.º of the Portuguese Securities Code | 515 |
4.2 Article 324.º no. 2 and 66º no. 5 paragraph d) of the Portuguese
Commercial Companies Code | 517 | |
4.3 | Article 447.º of the Portuguese Commercial Companies Code | 517 |
4.4 | Law no. 110/2009, of September 16 | 519 |
4.5 | Article 66.º no. 5 paragraph g) of the Portuguese Commercial Companies Code | 520 |
4.6 | Qualified holdings | 521 |
4.7 List of duties held by the members of the Board of Directors in the last five years 522
4.8 Remunerations Report | 531 |
Part FIVE
5. FISCALIZATION REPORTS
5.1 | Statutory Audit Report and Auditor's Report | 538 |
5.2 | Report and Opinion of the Supervisory Board | 550 |
5.3 | Independent Assurance Report | 552 |
ONE
INTEGRATED REPORT 2023
MESSAGE FROM THE CHAIRMAN
CARLOS MOTA SANTOS
CHAIRMAN OF THE BOARD
OF DIRECTORS AND CEO
Dear Shareholders,
In fulfilment of my legal and statutory obligations, this report highlights the main events of 2023, a period marked by the international geopolitical instability that the situation in the Middle East has exacerbated.
In terms of the Mota-Engil Group, 2023 was a demanding but very positive year, reflected in unprecedented production rates, to which the teams always responded, honouring the Mota-Engil Group's long tradition of engineering.
With a strategic model geared towards the long term, complemented by an active and very cohesive operational management on the ground, the Group achieved a 46 per cent growth in turnover to an annual record of 5,552 million euros, combined with a 55 per cent increase in EBITDA to 837 million euros and a net profit of 113 million euros, in a period that was also very positive in commercial terms, ending the year with an backlog of 13 billion euros, ensuring stability for the following years.
Therefore, and having reached this dimension, I would like to point out to our stakeholders that we are well aware that dimension confers responsibility, and in the case of Mota-Engil we will maintain our priority focus on net profitability and cash-flow generation, towards the targets set for 2026.
In addition to the targets achieved, it is important to note that the year was also marked by important decisions that will only have an impact in the future, such as the acquisition of the shares not held in the Environment business (EGF and SUMA), as well as the sale of the operations in Poland, transactions that will help to strengthen the focus of investment in the markets and businesses where we see the greatest potential for development, as well as in the concessions area, where in the coming years we will give greater visibility to the investments made through the rotation of assets that will ensure added value for the Group.
Our legacy inspires and commits us to building a better world. Today we find ourselves in a context with major sustainability challenges, and with this recognition and purpose, we have included sustainability as a fundamental pillar of the Group's strategy, translated into objectives and targets dedicated to the material issues identified for Mota-Engil and which reflect the interests of our stakeholders.
For this reason, for the first time this year we will be developing a Single Report, with integrated sustainability information to give due prominence to a single strategic agenda, where sustainability is an integral part.
We are therefore publishing, with total transparency, the Group's progress in all the ESG dimensions that we now see as practices on an ambitious path that we want to be increasingly sustainable. In this sense, and with a firm commitment to the sustainability agenda, we would like to highlight the positive performance of some of the objectives, such as the reduction in accidents involving sick leave, the positive evolution of women in management positions in a Group that we want to be increasingly inclusive, promote innovation and attract new talent.
We recognise that we still have a long way to go, but we remain ambitious and have our eyes set on the future of our planet, people and business.
Finally, despite the numerous projects carried out throughout the year in more than twenty countries, in 2023 I cannot fail to recognise the team responsible and all those who contributed to the extraordinary performance on the Tren Maya, the largest rail project underway in Latin America, where we were consistently the consortium with the best execution rate throughout its execution.
Tren Maya will forever be one of Mota-Engil's greatest projects, along with others carried out by different generations that over the decades have contributed to making Mota-Engil what it is today: an international benchmark.
Finally, on behalf of the Board of Directors, I would like to recognise the collective of more than 53,000 employees who have contributed in a competent and committed way to the results we have achieved, together with the indispensable trust that our partners and clients have always given us and to whom we have always tried to respond at all times, as well as the Shareholders who have always given us their invaluable support and collaboration to make Mota-Engil an increasingly global Group, aligned with the purpose that guides us on the road to a better future.
HIGHLIGHTS 2023
In 2023, the Mota-Engil Group realised an unprecedented level in its order book, while at the same time achieving unprecedented levels of production that allowed it to achieve a significant growth of 46% in its Turnover, reaching a record value of 5,552 million euros.
13
Billion Euro
RECORD BACKLOG OF 13 BILLION EURO,
5,552
Billion Euro
RECORD TURNOVER OF 5.552 MILLION EURO, A GROWTH OF 46% AGAINST 2022
113
Million Euro
CONSOLIDATED NET PROFIT OF 113 MILLION EURO, A GROWTH OF 116% AGAINST 2022, WITH A MARGIN OF 2%
837
Million Euro
EBITDA OF 837 MILLION EURO, A GROWTH OF 55% AGAINST 2022, WITH A MARGIN OF 15%
1,175
Million Euro
NET DEBT OF
1,175 MILLION EURO, WITH A NET DEBT / EBITDA RATIO OF 1.4X
513
Million Euro
CAPEX OF 513 MILLION
EURO, OF WHICH 76% GROWTH AND MEDIUM AND LONG-TERM CONTRACTS
2,796
Million Euro
GROSS DEBT OF
2,796 MILLION EURO, WITH A GROSS DEBT / EBITDA RATIO OF 3.3X
746
Million Euro
EQUITY OF 746 MILILION EURO, A GROWTH OF 192 MILLION EURO AGAINST 2022, WITH A
EQUITY / ASSETS RATIO OF 10%
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Mota-Engil SGPS SA published this content on 10 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 April 2024 11:50:06 UTC.
