Notícia
Teixeira Duarte returns to profits and works portfolio rises 15% to 1,242 million euros
Teixeira Duarte, S.A. released to the market today, September 4th, the Interim Report for the first six months of 2024, which also includes the Consolidated Financial Statements. Regarding the evolution of the activity and results of the Teixeira Duarte Group in that year, the following stands out:
- Turnover reached 377 million euros, registering a slight growth (0.6%) compared to the 1st Semester of 2023. Activity in Portugal remained at the same level as in 2023, with growth in Brazil and Mozambique offsetting the reduction of activity in Angola and Other Markets. The highlight of this semester in terms of this indicator goes to the Real Estate Area, which showed significant growth. Additionally, it is worth mentioning the reduction in Other Income and Gains, which resulted in Operating Income being 6.2% below that recorded in the 1st Semester of 2023;
- EBITDA for the 1st Semester of 2024 amounted to 42 million euros, 7.4% below that recorded in the same period of the previous year. The growth in EBITDA in the Construction sector, which became the largest originator of the Group's EBITDA with 35% of the total, was not enough to offset the reduction in EBITDA in the Real Estate sector, motivated by the non-revaluation of Assets in Angola in the 1st Semester of 2024;
- The Consolidated Net Profit amounted to 11 million euros, with the Net Profit attributable to equity holders standing at 9 million euros compared to the negative result of 3 million euros obtained in the 1st Semester of 2023;
- Regarding Activity Sectors:
- In CONSTRUCTION, the recovery of EBITDA to 15 million euros stands out, due to the optimization of resources carried out through strategic reorganization and unification of structures, with a significant improvement in efficiency and cost reduction. Despite the slight reduction in activity in this 1st Semester, the value of works in the portfolio increased by 15% to 1.2 billion euros;
- In REAL ESTATE, Sales and Services Provided grew by 51 million euros compared to the first six months of 2023, with a good performance of real estate projects in Portugal and Brazil. Remember that Sales in this sector are greatly impacted by the development cycle of the projects, as the sale of assets only has an accounting effect when they are delivered;
- The CONCESSIONS and SERVICES sector recorded a slight reduction in EBITDA in line with the reduction in activity. It is worth highlighting the good performance in Portugal and Angola;
- In HOSPITALITY, the highlight is the continued improvement in performance recorded in recent years, especially in Angola with growth of 12.6%;
- In DISTRIBUTION, it is highlighted that, even in a challenging economic environment, it was possible to maintain the level of activity with an improvement in EBITDA (+25.4%);
- The AUTOMOTIVE sector was affected, essentially, by the conditioning of imports resulting from the difficulty in accessing foreign currency, which led to a decrease in Business Volume. Even so, it was possible to slightly improve the EBITDA margin.
See the full report available on the Teixeira Duarte Group website here.
