Mota-Engil registers losses of five million in the 1st semester

The company clarifies that the Group’s activity “was not unaware of the impacts caused by the pandemic”.

The Mota- Engil announced this Thursday that it recorded a net loss of five million euros in the first half of the year, a figure that compares with the profit of eight million euros obtained in the same period of the previous year . 

“For the value of the net result, of -5 million euros, the registration of 16 million euros weighed as provisions and impairment losses in order to guard against the negative effects caused by the Covid -19 pandemic “, explains the company, in statement sent to the CMVM . 

“The  Group’s activity in the first half of 2020 was not unaffected by the impacts caused by the pandemic , essentially the Engineering and Construction (E&C) business being the most affected as a result of production interruptions / stops, now caused by restrictive public health measures. implemented in the different countries where the Group operates, sometimes caused by logistical difficulties in moving people, equipment and goods “, says the company, in the same  statement. 

The activity in the period under analysis registered a decrease in turnover of 14%, to 1,157 million euros (26% outside the core area of Engineering and Construction) and a reduction in EBITDA to 144 million euros, still with a positive margin 12% depending on the context.

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