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Mota-Engil with a profit of 8 million. Order book reaches 7.4 billion – Construction

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Mota-Engil with a profit of 8 million.  Order book reaches 7.4 billion - Construction

Mota-Engil posted a profit of € 8 million in the first half of this year, which is in line with the same period in 2019, compared to a € 5 million loss in June 2020.

The group, led by Gonçalo Moura Martins, said in a statement that the order book broke records again, ending the first half of this year at € 7.394 billion, up 22% from December.

The construction company’s turnover prior to June was € 1,138 million, just 2% less than in the same period last year, while EBITDA reached € 181 million, up 25% over the same period last year. The margin was 16%. In turnover, Europe contributed 455 million euros at last year’s level, Africa fell 16% to 325 million, and Latin America rose 10% to 336 million euros.

By region, the group sees 8% growth in turnover in Portugal in the first half of the year, which was “the largest design and construction market in the group after many years, surpassing Mexico and Angola,” he says.

In a presentation of the semi-annual results, Mota-Engil notes that “during a period when there was a gradual recovery, albeit at different rates between markets, production levels and depending on the quality of the portfolio recently created. During the semesters, the group focused on developing operations with greater profitability and generating cash. “

As such, he says it was possible to continue growing the order book this semester, “which will support growth in the coming years, and largely in Africa, a market that has historically had the highest operating profitability.

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The statement also highlights the global resilience of trade: “Latin America is showing signs of recovery after being the region most affected by the pandemic in 2020.”
He also highlights the 25% EBITDA growth on a 16% margin, “which more than doubles operating result (EBIT) over the same period” to EUR 68 million.

Operating cash flow increased 31% to 165 million, which the group said is “the highest in 4 years in the first half.”

Net debt stood at 1,141 million at the end of July (102 million less than in December), while the net debt / EBITDA ratio improved to 2.7x.

On the investment side, the cost remained in line with the forecast at the beginning of this year, with capital expenditures of € 98 million, of which 70% is in medium to long term contracts, with a focus on mining in Africa, railways to Mexico and the environment in Portugal. … By the end of the year, the group expects to achieve an investment of over 200 million euros.

In this document, Mota-Engil, which will unveil its new strategic plan for 2022–2026 in the fourth quarter of this year, also highlights a milestone in its history with the entry of China Communications Construction Company (CCCC) into its capital.

With regard to the year-end outlook, the group says it is expected to see strong growth in turnover in 2021, EBITDA margins in line with historical levels and “is considered one of the ‘best in class’ in the industry.” and the portfolio exceeds 7 billion euros.

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Economy

Prices for the next week (from 5 to 11 December)

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Crédito Habitação Activo Bank

Fuel price information is based on calculations that take into account quotations on international markets and other factors taken into account when pricing fuel in Portugal. This is the data that I collect weekly from my sources in the fuel market.

I remind you that despite this price indication, each filling station can set the price it considers appropriate🇧🇷 Only private label gas stations should follow brand guidelines. Dealers and each brand may or may not follow the market leaders. But in my experience they go one after the other. This is the price trend for the coming week.

PORTUGAL continental

🇧🇷 Previous weeks*: (-5)(-10)(-7)(4)(-1)(-0.5)(9.5)(11)(+2)(-7)(+1 )(-7)( 11)(5)(-2)(-9)(-1)(-6)(-7)(-9)(-3)(6)(13)(12)(2 .5 )(-2.5 )(-7)(3)(-10 ISP drop)(6)(1)(-5)(-12.5)(16)(-18)(18)(14 , 5)(2.5)(1)( 0.5)(2))(0.5)(3)(2)(2.5)(3)2022

* Order of changes from newest to oldest.

🇧🇷 Previous weeks*: (-5)(-9)(-4)(2)(-1)(-6)(6)(8)(2)(-0.5)(-0.5) (-7)(0.5 )(-1)(-1)(-9)(0.5)(-5)(-5)(-8)(-1.5)(-1)(- 5) (-3)(14)(1.5) (7)(2)(4.5)(-10 ISP drop)(2)(0.5)(-4)(7)(-13, 5 )(14)(7.5)(2)(1)(2)(2) (1.5)(2)(1.5)(0.5)(4.5)2022

* Order of changes from newest to oldest.

| Previous weeks*: (=)(-1)(=)(=)(-1)(=)(1)(-2)(=)(-1)(+2)(=)(=)(= )(-1)(=)(-1)(=)(=)(=)(1)(=)(-2)(1)(=)(-2)(=)(-4)(= )(=)(=)(-1)(=)(-2)(-6)(-10)(21)(=)(12)(=)(=)(1)(=)(-1 )(=)(=)(2)2022

* Order of changes from newest to oldest.

MADEIRA

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Economy

Etihad Airways A380 close to return to the skies

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Etihad Airways A380 close to return to the skies


Image: Richard Vandervoorde/CCTV 4.0, via Wikimedia


Abu Dhabi-based Etihad Airways has just resumed crew training on its Airbus A380, showing positive signs that the superjumbo is back in the sky. Like many airlines around the world, Etihad suspended flights with this model after the outbreak of the pandemic in 2020, when the number of passengers fell and the UAE closed its borders.

Last April, the airline announced it was suspending its entire A380 fleet indefinitely to prioritize operations with the Boeing 787 Dreamliner and Airbus A350-1000, which are considered more sustainable and cost-effective models.

As a result, 10 A380s were sent for long-term storage to special bases in France and Spain, where they were supposed to be on a permanent basis, then-CEO Tony Douglas said. came to warn that cannot be reactivated due to their high cost of ownership and the operator’s commitment to protecting the environment.

However, due to rising demand for passenger travel worldwide, the airline plans to bring back some of the giants very soon, according to a tweet from aviation expert Zulkarnain. In the post (below), he says that Etihad has just started training the A380 crew. He reveals that the comeback will take place next year and that the date will be confirmed soon.

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He is actively engaged in aircraft spotting and is interested in the world of aviation, with a particular focus on military aviation, currently working in the field of professional photography.


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Economy

Minister says pensions will be renewed in January

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Minister says pensions will be renewed in January

This Wednesday, the labor secretary said the government is trying to ensure that pension increases begin to be paid in January and that differentials restore the amount provided in the formula.

“We expect this to happen as soon as possible,” said the Minister of Labour, Solidarity and Social Security, Ana Méndez Godinho, when asked if pensioners would start receiving the new pension as early as January 2023. a commitment that we have made and today we had the calculations and forecasts presented by INE” according to which the government “will adjust the value to be updated in 2023 as a result of the most recent inflation data,” he said.

According to the minister, from January 2, 2023, pensions of up to 960 euros will be updated by 4.83%, which is basically the value that is the necessary differential to achieve the exact value provided in the formula. [de cálculo]in addition to the already paid half board.

For pensions from 960 euros to six AI, the increase will be 4.49%, and for pensions over six AI, the increase will be 3.89%, Ana Mendez Godinho specified, noting that “the AI ​​itself will be updated by 8.4%”. , becoming 480 euros”. That is, he gave an example, “to a pension of 500 euros there will be an increase of about 24 euros.”

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The Minister assured that “pensions are still not cut” and that “a decree will be issued to adjust these differential values ​​to ensure that the sum between the two parts, between the half pension [que já foi paga] and this update that happens in 2023 guarantees exactly the same value [que] will give when applying the formula.

Ana Méndez Godinho spoke in Santarém on the sidelines of the Qualification Centers meeting, which takes place at the National Center for Agricultural Exhibitions and Markets under the motto “Transforming the PRR Program for Qualifications”.

IAS to be updated by 8.4% in 2023

The value of the Social Assistance Index (IAS) will be updated to 8.4% instead of 8% in 2023, increasing to 480.43 euros, the Ministry of Social Affairs announced today.

These adjustments, whether when updating IFRS or pensions, are based on inflation data released today by the National Institute of Statistics (INE), which shows that the average inflation over the past 12 months, excluding housing (which usually serves as a benchmark for IAS and pension updates) was 7.46% in November, accelerating from 6.83% in the previous month.

The Ministry of Labour, Solidarity and Social Protection said in a statement that the IAS – an index used to differentiate the renewal of pensions depending on their monthly value – will have “an increase of 8.4% in 2023, from 443.20 euros to 480.43 Euro. “.

Initially, the Government mentioned that IAS would be updated by 8%, recognizing that the value would be adjusted if the resulting inflation was higher than estimated.

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