Interim / Quarterly Report • Nov 27, 2014
Interim / Quarterly Report
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Management Report and Consolidated Financial Statements as of nine months of
2014
Mota-Engil. A World of Inspiration
Engineering will always be the solid ground of the foundations of Mota-Engil. But our operating capacity and innovative drive goes beyond this sector, forming an increasingly wider and diversified activity portfolio.
Mota-Engil. Building a better future.
Peru Mexico Brazil Colombia
Angola Malawi Mozambique South Africa Cape Verde São Tomé and Príncipe Zambia Zimbabué Ghana
Net income of the GROUP grows 31.2% reaching €50 million
The international business of the GROUP outside Europe is about 68% of the total
Growth rates of 19% in Africa and 24% in Latin America
EBITDA increases 18% and EBIT goes up 11%, with margins of 18% and 11%, respectively
The backlog reaches €4.4 billion (76% outside Europe)
THE GROUP was awarded the EGF privatization although the Portuguese Competition Authority's non-rejection statement is still pending
Listing of Mota-Engil Africa, NV in Euronext Amsterdam stock exchange, after the end of the quarter
| thousand euros | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 9M14 | % T | ∆ | 9M13 | % T | 3Q14 | % T | ∆ | 3Q13 | % T | |
| (non audited) | (non audited) | (non audited) | (non audited) | |||||||
| Turnover | 1,789,468 | 7.6% | 1,662,777 | 667,050 | 7.1% | 622,819 | ||||
| Europe | 649,298 | (10.6%) | 726,530 | 261,968 | (7.3%) | 282,502 | ||||
| Africa | 840,264 | 19.0% | 706,022 | 283,428 | 3.8% | 272,995 | ||||
| Latin America | 375,432 | 24.1% | 302,566 | 142,365 | 25.1% | 113,823 | ||||
| Other & Interc. | (75,526) | (72,342) | (20,712) | (46,503) | ||||||
| EBITDA | 313,328 | 17.5% | 17.9% | 265,855 | 16.0% | 118,602 | 17.8% | 13.9% | 104,159 | 16.7% |
| EBIT | 195,096 | 10.9% | 10.6% | 176,430 | 10.6% | 74,980 | 11.2% | 0.6% | 74,546 | 12.0% |
| Net financial income | (84,829) | (4.7%) | (9.1%) | (77,775) | (4.7%) | (33,718) | (5.1%) | (28.7%) | (26,192) | (4.2%) |
| Net income/losses from equity method | (11,510) | (0.6%) | - | (1,241) | (0.1%) | (5,819) | (0.9%) | (253.3%) | (1,647) | (0.3%) |
| Income before taxes | 98,758 | 5.5% | 1.4% | 97,414 | 5.9% | 35,444 | 5.3% | (24.1%) | 46,707 | 7.5% |
| Net income | 72,926 | 4.1% | 5.7% | 68,968 | 4.1% | 28,069 | 4.2% | (12.6%) | 32,098 | 5.2% |
| Attributable to: | ||||||||||
| Non-controlling interests | 23,182 | 1.3% | (25.3%) | 31,053 | 1.9% | 9,409 | 1.4% | (37.0%) | 14,926 | 2.4% |
| Group | 49,744 | 2.8% | 31.2% | 37,915 | 2.3% | 18,660 | 2.8% | 8.7% | 17,172 | 2.8% |
Ebitda = operating result + amortisation + provisions and impairment losses The accounts included in this Interim Report were not subject to audit.
Committed in turning the world into a better place to live, we take the experience and the skills that made us leaders in Portugal to the communities of three continents and 20 countries.
Mota-Engil. Building a better future.
Execution of a railway between the border of Mozambique with Malawi over an extension of 145.1 km
3500 Collaborators
10 Million m3 Earthworks
| Highlights | 3 |
|---|---|
| Interim Consolidated Management Report | 7 |
| Introduction | 8 |
| Operating and financial performance | 9 |
| Business segments analysis | 14 |
| Share price performance and dividends | 18 |
| Interim Consolidated Financial Information | 19 |
| Separated Consolidated Income Statement | 21 |
| Statement of Consolidated Comprehensive Income | 22 |
| Statement of Consolidated Financial Position | 23 |
| Statement of Consolidated Changes in Equity | 24 |
| Consolidated Statement of Cash Flows | 26 |
| Notes to Consolidated Financial Statements | 27 |
Engineering will always be the solid ground of the foundations of Mota-Engil. But our operating capacity and innovative drive goes beyond this sector, forming an increasingly wider and diversified activity portfolio.
Mota-Engil. Building a better future.
Peru Mexico Brazil Colombia
Angola Malawi Mozambique South Africa Cape Verde São Tomé and Príncipe Zambia Zimbabué Ghana
Portugal
Poland Spain Ireland Czech Republic Slovakia Hungary
Portugal/Port of Lisbon
Acquisition of EGF - Empresa Geral do Fomento, S.A.
At the end of the third quarter the bid submitted by SUMA, a subsidiary of the GROUP for the waste business won the privatisation of 95% of the share capital of Empresa Geral do Fomento, S.A. ("EGF"). As previously announced, the acquisition of EGF by the GROUP MOTA-ENGIL is in line with the Ambition 2.0 Strategic Plan that envisages the diversification of the GROUP and a balanced contribution from Europe's activity in face of the growth in Africa and Latin America. This acquisition is a step further to build up a domestic GROUP which capitalizes experience in Portugal to reinforce the internationalization process.
EGF is a leading company in the waste treatment and recycling business, being present in 174 municipalities and serving a population of 6.4 million inhabitants, which represents a market share of 68% in the municipal solid waste treatment business. Based on 2013's figures, the waste treatment sector of the GROUP, including SUMA and EGF, would have reached a turnover of about €258 million and an EBITDA of €78 million.
The investment to acquire 95% of EGF's share capital will be around €147 million, already fully financed, and it will be only completed after obtaining the non opposition statement from the Competition Authority.
On 24 November, MOTA-ENGIL AFRICA NV, a sub-holding of the GROUP which operates in the African Continent, was listed in Euronext Amsterdam. This embodies the shareholders' decision of 27 December 2013, so the dividend will be paid in kind, as it was previously approved. As an immediate effect, the GROUP now holds around 82% of its subsidiary, which had a market cap of around €1.1 billion, at the closing price of 26 November. Noteworthy, as it was previously announced, the GROUP maintains the goal to increase the free float of MOTA-ENGIL AFRICA as a way to crystalize the value of this subsidiary within its portfolio and to enhance the sustainable growth of its business in the region.
2012: Pro-forma data using the equity consolidation method for Indaqua
In the third quarter 2014, the GROUP's turnover grew 7.1%, when compared with the same period in 2013. In the first nine months of the year, the consolidated turnover grew 7.6% YoY (Year on Year) due to the steady and sustainable performance in Africa, where turnover increased 19% YoY, and in Latin America, where turnover increased 24.1%.
Following the turnover evolution, the business weight outside Europe, in the first nine months, reached 68% (first nine months of 2013: 61%) of the total turnover. This internationalization effort, over the last quarters, was driven by the growth and diversification strategy announced by the GROUP, targeting the maximization of shareholder's value creation.
2012: Pro-forma data using the equity consolidation method for Indaqua
As in the previous quarters, the GROUP's operating profit has significantly improved with EBITDA growing around 14% YoY in the third quarter of 2014. This represents an increase of €14 million when compared with the third quarter of 2013. In the nine month period, EBITDA increased 18% YoY, or €47 million. This evolution was driven by the operational performance contribution from all regions, particularly from the African segment, where margin reached 26%.
The African and the Latin American segments increased their weight in the GROUP's operating profitability, accounting for 80% of the total, compared to 71% in the first nine months of 2013.
The growth of the EBITDA margin from 16% in the first nine months of 2013 to 17.5% in the first nine months of 2014 was the result of a higher contribution from the markets outside Europe, mainly in what regards the operations in Africa. Margins in Europe and in Latin America also had a positive evolution, even though influenced by several endogenous and exogenous factors.
In order to sustain growth and operational performance, during the first nine months of 2014, approximately 77% of the GROUP'S capex was allocated to Africa and Latin America. Despite this effort, the GROUP kept its policy of rigor and opportunities' analysis in order to minimize the consolidated capex which, as a result, reached €124 million (first nine months of 2013: €111 million). Growth capex reached around €47 million, from which €30 million in Latin America, and €17 million in Africa and Europe. Maintenance capex was €76 million, from which €50 million in Africa, €19 million in Europe and €6 million in Latin America.
2012: Pro-forma data using the equity consolidation method for Indaqua
As a result of the adverse conditions that characterized the construction sector, namely in Europe, where the GROUP operates, and of the strategy to accelerate the internationalization process, total net debt at the end of the third quarter increased by €52 million from 30 June 2014. This evolution, although in contradiction with the normal seasonal decrease, was a result of working capital investment related with the beginning of several large projects. It is expected a reversal of the net working capital investment effort in the upcoming months. As a consequence, the ratio of total net debt to EBITDA was 3.0x, below the figures presented in almost all the periods in 2013, thus ensuring a downward trend that will benefit the financing sources diversification strategy of the GROUP.
On the other hand, during the third quarter it was possible to proceed with the implementation of the strategy that targets the increase of debt maturities. On 30 September 2014, around 78% of the total gross debt, €970 million, had a maturity above one year. Following the new bond issues with maturities of up to five years, the GROUP was focused on its financing needs in order to grow its activity, but without increasing the short-term debt exposure that remains lower than that of December 2013.
2012: Pro-forma data using the equity consolidation method for Indaqua
Net financial expenses increased 9% from €77.8 million in the first nine months of 2013 to €84.8 million in the first nine months of 2014. Nevertheless, it should be noted that financial expenses presented a residual growth, which reflects the effort in improving the pricing conditions from new financing. It is important to highlight that net financial expenses in 2013 were influenced by non-recurrent gains, namely related to divestment of non-core assets. Excluding this impact, the net financial expenses would have decreased 2% YoY.
Net losses from associated companies (equity method in the chart) reached €11.5 million (first nine months of 2013: losses of €1.2 million). ASCENDI, the subsidiary for the road concessions business, had a contribution of €7 million in the first nine months of 2014 (first nine months of 2013: € 13.7 million).
As a result of the operating and financial performance, net margin in the first nine months of 2014 reached 2.8%, with the net profit attributable to the GROUP growing 31.2% to €50 million (first nine months of 2013: €38 million). In the third quarter 2014, net profit attributable to the GROUP increased 8.7% to €18.7 million, leading to a net margin of 2.8%.
At the end of September 2014, the backlog reached an all-time high of about €4.4 billion, of which €3.3 billion from markets outside Europe that represented about 76% of the total backlog. In this context it should be highlighted the amount reached in Latin America.
The backlog does not include any amount related to the contracts in Cameroon and Congo (€2.6 billion) since the financing closure of the project has not yet been reached (refer to the announcement dated 5 June 2014). As usually, the backlog outside the construction sector only relates to contracts for services in the waste and maintenance businesses. The GROUP does not include in its backlog figure the expected income from the water and sanitation concession contracts and from port terminal operations.
2012: Pro-forma data using the equity consolidation method for Indaqua
Europe's business segment includes the activities and the companies operating in the Engineering & Construction and in the Environment & Services held by the GROUP both in Portugal and in Central Europe, or run by the management structure of this region. As far as the Environment & Services is concerned, activities are carried out in Logistics through TERTIR, in Waste through SUMA, in Water (with INDAQUA's contribution, consolidated by the equity method) and in Energy & Maintenance.
The GROUP'S turnover in Europe fell by about 7% YoY during the third quarter of 2014, accumulating a decrease of 11% YoY from €727 million to a total of €649 million in the first nine months of 2014. Noteworthy is the reversion of that trend in Portugal, where the activity improved. The 17% decrease in the Engineering & Construction turnover contributed to the decrease in the region. The latter was not offset by the 1% YoY increase in the turnover in the Environment & Services segment, from €239 million in the first nine months of 2013 to €242 million in the same period of 2014. This increase was mainly explained by the growth in both the Logistics and Energy & Maintenance segments.
As far as the operating profitability is concerned and despite the decrease in the activity, margin remained at 10.6%, leading to a decrease of the EBITDA to €69 million in the first nine months of 2014 from €77 million in the same period last year. The margin in the Engineering & Construction reached 7%, broadly in line YoY, thus proving the GROUP's capacity to adapt itself to the difficulties felt in major markets (Portugal and Poland) with strong operations restrictions, both in the private and public sector. That margin continues to be above those obtained by the main players in the market and it was achievable due to the risk mitigation capacity that a commercial aggressiveness, from other market players, brings to the sector.
In the first nine months of 2014 the Environment & Services segment presented a turnover of €242 million and an EBITDA of €38 million, being the contributions of each activity different. As such, the turnover of the Waste activity in Europe was down 4% YoY (first nine months of 2014 and 2013: turnover of €59 million and €61 million, respectively) and EBITDA was down 7% YoY (first nine months of 2014 and 2013: EBITDA of €13 million and €14 million, respectively). This performance resulted from a recovery in the third quarter, when turnover slightly improved, as well as EBITDA (6% higher) leading to a margin of 22%.
On the other hand, in the third quarter turnover in the Logistics segment grew by 7% YoY (turnover of €53 million in the third quarter of 2014 compared to €50 million for the same period in 2013), reflecting an increase of the growth pace, that followed the deceleration of the second quarter. In the nine months period, turnover reached €150 million, up 4% YoY from €144 million. Regarding the operating profitability and despite the fact that it was possible to improve the margin by one percentage point (from 15% in the second quarter to 16% in the third quarter), the difficulties and the instability that have characterized this sector (mainly in the Lisbon port), are still the reasons behind the EBITDA decrease (€22 million in the first nine months of 2014 and €26 million in the first nine months of 2013).
As far as the Energy & Maintenance segment is concerned, turnover increased 15% YoY to €33 million in the first nine months of 2014, along with an increase of the EBITDA margin which was above 8%.
The Water segment is consolidated by the equity method and as such, its results are not reflected in the GROUP's operating results. Nevertheless, it should be highlighted its operational performance with an EBITDA margin of 37.7%. Also noteworthy is the recently announced change in the shareholders' structure of INDAQUA, the GROUP's subsidiary for the water management, with a new strategic partner, with the goal to enhance the subsidiary's capacity to seize both national and international opportunities.
In the first nine months of 2014 the Africa segment accounted for about 47% of GROUP MOTA-ENGIL's total turnover (42% in the first nine months of 2013), on the back of the region activity's strong growth. Turnover in Africa reached €840 million in the first nine months of 2014, up 19% YoY (€706 million in the first nine months of 2013). The EBITDA margin increased to 26% (23% in the first nine months of 2013) and reached 27% in the third quarter of 2014 (22% in the third quarter of 2013). EBITDA therefore grew to €217 million (first nine months of 2013: €163 million), driven by the SADC ("South African Development Community") region's contribution, which includes Malawi, where the GROUP'S largest project was carried out, the Nacala project.
It should be highlighted the segment's backlog, which reached €1.3 billion, benefiting from the contribution of the four regional segments (Angola, SADC, East and West) and reflecting the diversification efforts in the Sub-Saharan region. It is also worth mentioning the very wide range of tenders and already awarded contracts (in terms of countries and type of projects) whose financial close is still pending. Included in here is the project in Cameroon and Congo, the largest one, that amounts to €2.6 billion.
In Latin America, the activities carried out in Peru, Mexico, Brazil and Colombia, showed different performances, with the last three countries presenting a relevant growth and more than compensating the activity slowdown in Peru. The region accounted for 21% of the GROUP's total turnover (18% in for the first nine months of 2013). The awarded contracts announced since the beginning of the year that amounted to €1.5 billion, were the main drivers behind growth acceleration. This evolution is expected to enable a sustained evolution of the activity that will contribute to a balanced contribution of the three regional segments to the consolidated turnover.
In the first nine months of 2014, turnover for the region reached €375 million, up 24% YoY (first nine months of 2013: €303 million). It should be highlighted that Mexico and Brazil were the main drivers of the growth, and that starting from lower contributions in 2013, were able to reach nearly 50% of the region's turnover. The greater relative weight of those two countries is also explained by the turnover evolution in Peru which decreased by about 25%, a trend that is expected to be short lived.
In the first nine months of 2014, EBITDA grew 29% YoY from €26.5 million to €34.2 million. Likewise, the margin improved to 9.1% in the first nine months of the year (first nine months of 2013: 8.8%).
Also noteworthy is the increase of the region's backlog that reached €2 billion, as a result of the commercial efforts that aim to meet the excellent opportunities in the countries where the GROUP operates.
During the third quarter of 2014, the Portuguese equity market reinforced its negative performance, which started at the end of the second quarter, when the positive trend inverted. The performance was impacted by the crisis in the Portuguese banking sector that led to an intervention of the Portuguese Government. Notwithstanding the recovery that characterised the end of the third quarter, the Portuguese index, PSI 20, devalued 16% in the third quarter, leading to a negative performance of 12% in the nine months of 2014. In the third quarter of 2014, MOTA-ENGIL share was down 11% to €5.11, having registered a maximum of €5.72 and a minimum of €3.85. In the nine months period, MOTA-ENGIL' share presented a positive performance of 18%. During the third quarter, traded volume in the Euronext Lisbon reached 46.1 million shares, which corresponded to an average daily volume of 698 thousand shares. During the nine months period, the total volume was 138.7 million shares, or an average daily volume of 726 thousand shares. It should be highlighted that on 26 February 2014, 34.3 million shares of MOTA-ENGIL, including the 11,101,379 treasury shares, were sold and placed with institutional investors.
It is worth mentioning that in the fourth quarter, on 24 November, MOTA-ENGIL proceeded with the "listing by introduction" of MOTA-ENGIL Africa's shares in the Euronext Amsterdam stock exchange. This operation followed the postponing of the Initial Public Offering planned for July, due to the deterioration of financial markets conditions. This operation avoided the expiration of MOTA-ENGIL Africa rights that were distributed to MOTA-ENGIL's shareholders as of 22 January 2014. Lastly, it should be highlighted that MOTA-ENGIL is committed to its goals of performing, in the foreseeable future, a capital raise and respective institutional share offering of its African subsidiary.
The General Shareholders' Meeting as of 30 April 2014 decided, in accordance with the Board of Directors proposal, to pay a 12.35 euro cents dividend. The dividend was paid on 30 May 2014.
Porto, 27 November 2014
Gonçalo Moura Martins Chief Executive Officer
José Pedro Freitas Chief Financial Officer
Mining
PROSPECTING EXTRACTING EXPLORATION
WASTE WATER PORTS AND LOGISTICS MULTISERVICES ENERGY
Portugal / Bridge over
the Ceira River
| 9 Months | rd Quarter 3 |
|||
|---|---|---|---|---|
| Notes | 2014 € '000 |
2013 € '000 |
2014 € '000 |
2013 € '000 |
| (non audited) | (non audited) | (non audited) | (non audited) | |
| Sales and services rendered 2 |
1.789.468 | 1.662.777 | 667.050 | 622.819 |
| Other revenues | 71.154 | 35.153 | 26.817 | 21.374 |
| Cost of goods sold, materials consumption and subcontractors | (792.172) | (744.301) | (306.715) | (281.715) |
| Third-party supplies and services | (394.114) | (350.648) | (134.176) | (127.834) |
| Wages and salaries | (338.376) | (333.175) | (117.622) | (115.378) |
| Other operating expenses, net | (22.632) | (3.952) | (16.752) | (15.106) |
| 2 | 313.328 | 265.855 | 118.602 | 104.159 |
| Depreciation and amortization | (103.727) | (77.468) | (36.547) | (26.437) |
| Provisions and impairment losses | (14.505) | (11.956) | (7.074) | (3.177) |
| Operating profit | 195.096 | 176.430 | 74.980 | 74.546 |
| Financial income 3 |
20.589 | 91.792 | (36.976) | 48.783 |
| Financial costs 3 |
(105.418) | (169.567) | 3.258 | (74.975) |
| Gains / (losses) in associates and jointly controlled companies | (11.510) | (1.241) | (5.819) | (1.647) |
| Consolidated net profit before income tax | 98.758 | 97.414 | 35.444 | 46.707 |
| Income Tax | (25.832) | (28.446) | (7.374) | (14.609) |
| Consolidated net profit for the period | 72.926 | 68.968 | 28.069 | 32.098 |
| Attributable: | ||||
| to non-controlling interests | 23.182 | 31.053 | 9.409 | 14.926 |
| to the Group | 49.744 | 37.915 | 18.660 | 17.172 |
| Earnings per share: | ||||
| basic 4 |
0,243 € | 0,196 € | 0,091 € | 0,089 € |
To be read with the Notes to the Consolidated Financial Statements
| 9 Months | 3rd Quarter | |||||
|---|---|---|---|---|---|---|
| 2014 € '000 |
2013 € '000 |
2014 € '000 |
2013 € '000 |
|||
| (não auditado) | (não auditado) | (não auditado) | (não auditado) | |||
| Consolidated net profit for the period | 72.926 | 68.968 | 28.069 | 32.098 | ||
| Items of other comprehensive income that may be reclassified to the income statement | ||||||
| Exchange differences stemming from transposition of financial statements expressed in foreign currencies | 29.876 | (11.665) | 23.611 | (8.846) | ||
| Variation, net of tax, of the fair value of financial derivatives | 394 | 402 | 324 | 178 | ||
| Other comprehensive income/(expense) in investments in associates using the equity method | (30.197) | 28.280 | 626 | 1.722 | ||
| Total of comprehensive income for the period | 72.999 | 85.985 | 52.630 | 25.152 | ||
| Attributable: | ||||||
| to non-controlling interests | 27.912 | 28.976 | 14.022 | 11.847 | ||
| to the Group | 45.087 | 57.009 | 38.608 | 13.305 | ||
| To be read with the Notes to the Consolidated Financial Statements |
| Notes | 2014 | 2013 | |
|---|---|---|---|
| € '000 | € '000 | ||
| (non audited) | (audited) | ||
| Assets | |||
| Non-current | |||
| Goodwill | 5 | 133.709 | 133.611 |
| Intangible fixed assets | 128.118 | 133.164 | |
| Property, plant and equipment | 719.062 | 690.603 | |
| Financial investments under the equity method | 6 | 184.299 | 218.169 |
| Available for sale financial assets | 7 | 57.052 | 49.792 |
| Investment properties | 55.213 | 55.304 | |
| Trade and other receivables | 210.812 | 213.059 | |
| Deferred tax assets | 60.053 | 52.158 | |
| Cash and cash equivalents | 8 | - | 53.552 |
| 1.548.317 | 1.599.410 | ||
| Non-current Assets Held for Sale | 29.980 | 30.311 | |
| Current | |||
| Inventories | 321.586 | 311.152 | |
| Trade receivables | 1.037.188 | 978.484 | |
| Other receivables | 388.830 | 283.002 | |
| Other current assets | 424.455 | 264.889 | |
| Cash and cash equivalents – demand deposits | 8 | 224.090 | 270.961 |
| Cash and cash equivalents - term deposits | 8 | 74.535 | 35.219 |
| 2.470.684 | 2.143.708 | ||
| Total Assets | 2 | 4.048.982 | 3.773.429 |
| Liabilities | |||
| Non-current | |||
| Borrowings | 970.271 | 747.503 | |
| Sundry Creditors | 156.085 | 185.141 | |
| Provisions | 104.568 | 99.312 | |
| Other non-current liabilities | 4.102 | 3.034 | |
| Deferred tax liabilities | 40.996 | ||
| 31.478 | |||
| 1.276.021 | 1.066.469 | ||
| Current | |||
| Borrowings | 574.516 | 583.844 | |
| Trade payables | 457.427 | 488.113 | |
| Derivative financial instruments | 255 | 674 | |
| Sundry Creditors | 522.962 | 523.782 | |
| Other current liabilities | 586.129 2.141.289 |
551.321 2.147.734 |
|
| Total Liabilities | 3.417.310 | 3.214.203 | |
| 2 | |||
| Shareholders' equity | |||
| Share capital | 204.636 | 204.636 | |
| Other reserves | 170.744 | 102.355 | |
| Consolidated net profit for the period | 49.744 | 50.505 | |
| Own funds attributable to the Group | 425.123 | 357.495 | |
| Non-controlling interests | 206.548 | 201.731 | |
| Total shareholders' equity | 631.672 | 559.226 |
To be read with the Notes to the Consolidated Financial Statements
| Lands assigned to Available-for-sale Share capital Treasury shares Issue premiums quarrying Derivatives investments operations Balance as at January 1, 2013 (audited) 204.636 (22.749) 87.256 27.702 4.983 (996) Total comprehensive income for the period - - - - - 402 Dividend distribution - - - - - - Other distributions of results - - - - - - Transfers for other reserves - - - - - - Changes to the consolidation perimeter and in the ownership - - - - - - interest in subsidiaries Balance as at September 30, 2013 (non audited) 204.636 (22.749) 87.256 27.702 4.983 (594) Balance as at January 1, 2014 (audited) 204.636 (22.749) 87.256 27.702 10.306 (499) Total comprehensive income for the period - - - - - 394 Dividend distribution - - - - - - Other distributions of results - - - - - - Sale of treasury shares - 22.749 - - - - Transfers for other reserves - - - - - - Balance as at September 30, 2014 (non audited) 204.636 - 87.256 27.702 10.306 (105) |
Fair value reserves | ||||
|---|---|---|---|---|---|
To be read with the Notes to the Consolidated Financial Statements
| Currency translation reserve |
Other reserves | Net Profit | Own funds attributable to shareholders |
Own funds attributable to non controlling interests |
Shareholders' equity |
|---|---|---|---|---|---|
| (34.537) | 17.081 | 40.746 | 324.121 | 111.860 | 435.981 |
| (9.824) | 28.516 | 37.915 | 57.009 | 28.976 | 85.985 |
| - | (21.289) | - | (21.289) | (26.153) | (47.442) |
| - | 320 | - | 320 | (98) | 222 |
| - | 40.746 | (40.746) | - | - | - |
| - | (1.612) | - | (1.612) | 17.334 | 15.722 |
| (44.362) | 63.762 | 37.915 | 358.549 | 131.918 | 490.468 |
| (53.001) | 53.341 | 50.505 | 357.495 | 201.731 | 559.226 |
| 23.370 | (28.420) | 49.744 | 45.087 | 27.912 | 72.999 |
| - | (25.273) | - | (25.273) | (22.984) | (48.257) |
| - | (114) | - | (114) | (110) | (224) |
| - | 25.178 | - | 47.927 | - | 47.927 |
| - | 50.505 | (50.505) | - | - | - |
| (29.632) | 75.217 | 49.744 | 425.123 | 206.548 | 631.672 |
| Notes | 2014 € '000 |
2013 € '000 |
|---|---|---|
| OPERATING ACTIVITY | (non audited) | (non audited) |
| Cash received from customers | 1.478.623 | 1.526.628 |
| Cash paid to suppliers | (1.207.040) | (1.176.062) |
| Cash paid to employees | (272.365) | (274.463) |
| Cash generated from operating activities | (782) | 76.104 |
| Income tax paid | (52.735) | (17.948) |
| Other receipts generated by operating activities | 8.443 | 10.119 |
| Net cash from operating activities (1) | (45.074) | 68.275 |
| INVESTING ACTIVITY | ||
| Cash receipts from: | ||
| Financial investment | 830 | 59.474 |
| Intangible fixed assets | 49 | - |
| Property, plant and equipment | 9.539 | 12.552 |
| Investment grants | - | 1.192 |
| Interest and similar income | 3.806 | 7.509 |
| Dividends | 1.193 | 6.805 |
| 15.417 | 87.531 | |
| Cash paid in respect of: | ||
| Financial investment | (32.290) | (1.962) |
| Intangible fixed assets | (6.367) | (14.096) |
| Property, plant and equipment | (112.415) | (110.826) |
| Other | - | (808) |
| (151.072) | (127.693) | |
| Net cash from investing activities (2) | (135.655) | (40.161) |
| FINANCING ACTIVITY | ||
| Cash receipts from: | ||
| Loans obtained | 250.823 | 303.856 |
| Sale of treasury shares | 49.251 | - |
| 300.073 | 303.856 | |
| Cash paid in respect of: | - | - |
| Loans obtained | (37.383) | (114.809) |
| Amortization of finance lease contracts | (12.175) | (38.270) |
| Interest and similar expense | (83.391) | (82.305) |
| Dividends | (57.952) | (21.289) |
| Other | (3.939) | (9.427) |
| (194.841) | (266.100) | |
| Net cash from financing activities (3) | 105.233 | 37.755 |
| Variation of cash & cash equivalents (4)=(1)+(2)+(3) | (75.496) | 65.869 |
| Variations caused by changes to the perimeter | 253 | 18.895 |
| Exchange rate effect | 14.136 | (12.337) |
| Cash & cash equivalents at the beginning of the period 8 |
359.733 | 271.779 |
| Cash & cash equivalents at the end of the period 8 |
298.626 | 344.206 |
To be read with the Notes to the Consolidated Financial Statements
The core business of Mota-Engil, SGPS, SA, with head office at Rua do Rego Lameiro, nº 38, Porto, (MOTA-ENGIL SGPS or COMPANY), and subsidiaries (Group) is public and private construction work and related activities.
The detailed description of the Group's activities is provided in Note 2. Business Segments.
All amounts in these notes are in thousand Euros, except if expressly stated otherwise.
The attached financial accounts cover the consolidated financial reports for the Mota-Engil Group were prepared following the assumption of operations continuity based on the books and accounting records of the companies comprising the Group so that the consolidated financial statements are in accordance with the International Financial Reporting Standards (IAS/IFRS) issued by the International Accounting Standards Board (IASB) and the interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) or by the previous Standing Interpretations Committee (SIC) which have been adopted within the European Union.
For the Group, there are no differences between the IFRS adopted by the European Union and the IFRS published by the International Accounting Standards Board.
January 1, 2005 corresponded to the beginning of the period for the 1st application of IAS/IFRS by the Group, pursuant to IFRS 1 –First-time Adoption of International Financial Reporting Standards.
The consolidated financial statements of Mota-Engil Group regarding the period ended in September 30, 2014 were issued pursuant to the accounting policies and calculation methods adopted by the Group and presented in the 2013 Consolidated Report and Accounts, taking into account the provisions of IAS 34 - Interim Financial Reporting.
During the period ended in September 30, 2014, following standards, interpretations, amendments and revisions endorsed by the European Union became applicable:
| EU Regulation | Standard | Issued in | Mandatory for financial years beginning on or after |
|
|---|---|---|---|---|
| IFRS 10 Consolidated Financial Statements | ||||
| IFRS 11 Joint Arrangements | ||||
| Regulation no. 1254/2012 | IFRS 12 Disclosure of Interests in Other Entities | May 2011 | January 1, 2014 | |
| IAS 27 Separate Financial Statements | ||||
| IAS 28 Investment in Associates and Joint Ventures | ||||
| Regulation no. 1256/2012 | IAS 32 Financial Instruments: Presentation - Offsetting Financial Assets and Financial Liabilities | December 2011 | January 1, 2014 | |
| Regulation no. 313/2013 | Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12) |
June 2012 | January 1, 2014 | |
| Regulation no. 1174/2013 | IFRS 10 Consolidated Financial Statements, IFRS 12 Disclosure of Interests in Other Entities and IAS | October 2012 | January 1, 2014 | |
| Regulation no. 1374/2013 | IAS 36 Impairment of Assets: Recoverable Amount Disclosures for Non-Financial Assets (Amendment) | May 2013 | January 1, 2014 | |
| Regulation no. 1375/2013 | IAS 39 Financial Instruments: Recognition and Measurement: Novation of Derivatives and | June 2013 | January 1, 2014 |
The consolidated financial statements are presented in Euro (thousands). The financial statements of the subsidiaries in foreign currency were converted into Euro in accordance with the accounting policies described in subparagraph xv) of the main valuation criteria presented in the 2013 Consolidated Report and Accounts. All estimates and assumptions made by the Board of Directors were based on their knowledge of the events and transaction in course, as at the date of approval of the financial statements.
In preparing the consolidated financial statements, in conformity with IAS/IFRS, the Group's Board of Directors adopted certain assumptions and estimates which affect the reported assets and liabilities, as well as the income and costs incurred relative to the reported periods, which are described in subparagraph xxv) of the main valuation criteria presented in the 2013 Consolidated Report and Accounts.
The Group uses its internal organization for management purposes and as base for its reporting of information by operation segments. The Group is organized into the following geographical areas: Europe, Africa and Latin America.
Values concerning MOTA-ENGIL SGPS, MESP and Group companies in the Tourism area are included in "Others, eliminations and intra-group", which also included the amounts related to flows and balances between operational segments.
The first nine months of 2014 had no materially relevant alterations regarding the consolidation perimeter and therefore the effects over the main headings of the financial and results statements are not presented. The companies included in the consolidation and relevant consolidation methods, head offices, real participation percentages, activity, incorporation date and date of acquisition of shares are those presented in Annex A.
The main alterations occurred in the consolidation perimeter for the period ended September 30, 2014 are referred in Note 10. Perimeter Alterations.
The financial information by operational segments can be analysed as follows:
| Sales and services rendered | EBITDA | |||
|---|---|---|---|---|
| 2014 | 2013 | 2014 | 2013 | |
| Europe | 649.298 | 726.530 | 68.936 | 77.188 |
| Africa | 840.264 | 706.022 | 217.267 | 162.879 |
| Latin America | 375.432 | 302.566 | 34.177 | 26.493 |
| Others, eliminations & intra-group | (75.526) | (72.342) | (7.051) | (706) |
| Mota-Engil Group | 1.789.468 | 1.662.777 | 313.328 | 265.855 |
As at September 30, 2014, the sales and service provisions for the business segments are included in "Others, Eliminations and Intra-group".
For the periods ended September 30, 2014 and 2013, intra-group sales were made at similar prices to those for external clients.
Total net assets and liabilities for the Group by business segments are as follows:
| Net Assets | Liabilities | |||
|---|---|---|---|---|
| 2014 | 2013 | 2014 | 2013 | |
| Europe | 1.845.727 | 1.875.057 | 1.513.730 | 1.523.619 |
| Africa | 1.635.508 | 1.575.045 | 1.252.176 | 1.249.797 |
| Latin America | 566.694 | 365.058 | 472.899 | 280.886 |
| Other, Eliminations and Intercompany | 1.053 | (41.731) | 178.504 | 159.902 |
| Mota-Engil Group | 4.048.982 | 3.773.429 | 3.417.310 | 3.214.203 |
Financial results for the periods ended September 30, 2014 and 2013 are as follows:
| 2014 | 2013 | |
|---|---|---|
| Financial income & gains | ||
| Loans and accounts receivable: | ||
| Interest income | 12.961 | 13.181 |
| Payments discounts received | 261 | 498 |
| Net exchange gains | 4.068 | 72.650 |
| Other financial assets & liabilities: | ||
| Income from real estate properties | 703 | 405 |
| Gains arising from business combinations | - | 4.019 |
| Income from equity investments | 909 | - |
| Other financial income & gains | 1.687 | 1.039 |
| 20.589 | 91.792 | |
| Financial costs and losses | ||
| Loans and Accounts Payable: | ||
| Interest expenses | 78.103 | 76.493 |
| Payments discount given | 139 | 1.009 |
| Exchange expenses | - | 69.805 |
| Other costs and financial losses | ||
| Other financial expenses | 27.176 | 22.259 |
| 105.418 | 169.567 | |
| (84.829) | (77.775) |
Heading "Income from real estate properties" includes mainly income from buildings located in Portugal.
Heading "Other costs and financial losses" includes mainly costs with bank guarantees, preparation of loans and several commissions and others costs charged by financial institutions.
The company issued only common shares and therefore there is no special dividend or voting rights.
There is no situation in the Group which might lead to a reduction of earnings per share as a result of options, warrants, convertible bonds or other rights associated to ordinary shares.
Therefore, there is no dissimilarity between the calculation of basic earnings per share and the calculation of diluted earnings per share.
During the periods ended in September 30, 2014 and 2013 no common shares were issued.
During the periods ended in September 30, 2014, as approved in the General Meeting held December 27, 2013, the Group sold all its own shares (11,101,379 shares) in a private offer (out of the stock market) at 4.65€ per share. As such, Mota-Engil SGPS, S.A. no longer has own shares.
For the periods ended in September 30, 2014 and 2013, the earnings per share were as follows:
| 2014 | 2013 | ||
|---|---|---|---|
| Consolidated net profit/(loss) attributable to the Group | (I) | 49.744 | 37.915 |
| Total number of ordinary shares | (II) | 204.635.695 | 204.635.695 |
| Number of own shares at June 30 | (III) | - | 11.101.379 |
| Weighted average number of own shares | (IV) | - | 11.101.379 |
| Number of shares outstanding | (II - IV) | 204.635.695 | 193.534.316 |
| Earnings per share: | |||
| basic | (I) / (II - IV) | 0,243 € | 0,196 € |
| diluted | (I) / (II - IV) | 0,243 € | 0,196 € |
The information on goodwill, for the period ended September 30, 2014 and the year ended December 31, 2013, is as follows:
| 2014 | |||||
|---|---|---|---|---|---|
| Goodwill | Impairments of the period |
Alterations to the consolidation perimeter |
Net Goodwill |
Net Goodwill |
|
| Europe Engeneering & Construction | |||||
| Eltor | - | - | - | - | 2.792 |
| Mota-Engil Central Europe Poland | 8.767 | - | - | 8.767 | 6.025 |
| Mota-Engil Central Europe Czech Rep. | 1.141 | - | - | 1.141 | 1.142 |
| Other | 1.988 | (201) | - | 1.787 | 1.989 |
| 11.897 | (201) | - | 11.696 | 11.948 | |
| Europe Environment & Services | |||||
| Suma Group | 10.109 | - | - | 10.109 | 10.109 |
| Tertir Group | 100.856 | - | - | 100.856 | 100.856 |
| Other | 1.134 | - | - | 1.134 | 1.134 |
| 112.098 | - | - | 112.098 | 112.098 | |
| Africa | |||||
| Cecot | 1.440 | - | - | 1.440 | 1.440 |
| Mota-Engil S.Tomé | 143 | - | - | 143 | 143 |
| Vista Water | 1.841 | - | - | 1.841 | 1.841 |
| 3.424 | - | - | 3.424 | 3.424 | |
| Latin America | |||||
| Empresa Construtora Brasil | 6.490 | - | - | 6.490 | 6.141 |
| 6.490 | - | - | 6.490 | 6.141 | |
| 133.909 | (201) | - | 133.709 | 133.611 |
The movements which occurred in goodwill during the period until September 30, 2014 and the year ended December 31, 2013 are as follows:
| % of acquisition | 2014 | 2013 | |
|---|---|---|---|
| Goodwill at the beginning of the period | 133.611 | 127.032 | |
| Increase of goodwill | |||
| Empresa Construtora Brasil | 50% | - | 6.141 |
| Vista Water | 7% | - | 1.841 |
| - | 7.982 | ||
| Impairment losses | |||
| Ekosrodowisko | (201) | - | |
| Suma Group | - | (1.197) | |
| (201) | (1.197) | ||
| Changes in goodwill for currency update | |||
| Empresa Construtora Brasil | 350 | - | |
| Mota-Engil Central Europe Czech Rep. | (51) | (207) | |
| 299 | (207) | ||
| Goodwill at the end of the period | 133.709 | 133.611 |
In September 30, 2014 and December 31, 2013, the values relative to financial investments stated through the equity method are broken down as follows:
| 2014 | 2013 | |
|---|---|---|
| Europe Engeneering & Construction | ||
| Obol Invest Group | 23.228 | 24.891 |
| Other | 198 | 202 |
| 23.425 | 25.094 | |
| Europe Environment & Services | ||
| HEPP | 1.562 | 1.573 |
| Grupo Indaqua | 21.104 | 25.080 |
| Suma Group associates | 2.523 | 2.702 |
| SLPP Group | 1.734 | 1.463 |
| Other | 343 | 4.323 |
| 27.267 | 35.140 | |
| Africa | ||
| Other | 873 | 772 |
| 873 | 772 | |
| Latin America | ||
| TPE Paita | 29.307 | 23.689 |
| M&R de Occidente (Mexico) | 1.211 | - |
| Mota-Engil Opway Mexicana (Mex) | - | 4.924 |
| Other | 1.257 | 19 |
| 31.774 | 28.632 | |
| Ascendi Group | 69.726 | 86.574 |
| Martifer Group | 29.322 | 39.770 |
| Other | 1.912 | 2.187 |
| 184.299 | 218.169 |
As at September 30, 2014 and December 31, 2013, the detail of financial investments available for sale is as follows:
| 2014 | 2013 | |
|---|---|---|
| Investments in equity instruments (recorded at cost) | ||
| Auto-Sueco Angola | 2.724 | 2.724 |
| BAI-Banco Angolano de Investimentos | 39.904 | 39.904 |
| Carbine Tungstene | 1.704 | 1.704 |
| Ecodetra | 1.153 | 1.153 |
| Ersuc | 554 | 554 |
| Tirtife | 901 | 901 |
| Other | 3.762 | 2.735 |
| 50.702 | 49.675 | |
| 2014 | 2013 | |
| Securities | ||
| Other | 10 | 95 |
| 10 | 95 | |
| 2014 | 2013 | |
| Advances & other investments | ||
| Estradas do Zambeze | 1.200 | - |
| Mota-Engil Construction Souh Africa | 5.118 | - |
| Other | 23 | 22 |
| 6.340 | 22 | |
| Financial investments available for sale | 57.052 | 49.792 |
The amounts for the heading Cash and Equivalents, regarding the period ended in September 30, 2014 and December 31, 2013 are as follows:
| Demand deposits | Term deposits (1) | Total | ||||
|---|---|---|---|---|---|---|
| 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |
| Other applications | 1.742 | 11.889 | - | - | 1.742 | 11.889 |
| Bank deposits and cash in hand | ||||||
| Bank deposits | 214.389 | 252.526 | 74.535 | 88.771 | 288.925 | 341.297 |
| Cash on hand | 7.959 | 6.546 | - | - | 7.959 | 6.546 |
| 224.090 | 270.961 | 74.535 | 88.771 | 298.626 | 359.733 |
(1) Includes the amount of 53,552 thousand euros booked as non-current in Dec-13.
The amounts regarding debt for the period ended in September 30, 2014 and December 31, 2013 are as follows:
| Current (1 year) |
2 years | 3 to 5 years | over 5 years | Non-current | Total | |
|---|---|---|---|---|---|---|
| 2014 | ||||||
| Non-convertible bond loans | 11.473 | 224.721 | 232.960 | - | 457.681 | 469.154 |
| Amounts owed to credit institutions | ||||||
| Bank loans | 274.824 | 100.029 | 98.849 | 10.223 | 209.102 | 483.926 |
| Overdraft facilities | 90.294 | - | - | - | - | 90.294 |
| Current account facilities | 157.928 | - | - | - | - | 157.928 |
| Other loans obtained | ||||||
| Commercial paper issues | 36.000 | 72.340 | 222.684 | - | 295.024 | 331.024 |
| Other loans | 3.997 | 4.208 | 4.255 | - | 8.464 | 12.461 |
| 574.516 | 401.299 | 558.748 | 10.223 | 970.271 | 1.544.787 | |
| 2013 | ||||||
| Non-convertible bond loans | 10.000 | 10.000 | 321.508 | - | 331.508 | 341.508 |
| Amounts owed to credit institutions | ||||||
| Bank loans | 211.141 | 73.925 | 72.311 | 9.723 | 155.959 | 367.100 |
| Overdraft facilities | 88.240 | - | - | - | - | 88.240 |
| Current account facilities | 244.076 | - | - | - | - | 244.076 |
| Other loans obtained | ||||||
| Commercial paper issues | 27.400 | 149.580 | 88.518 | 15.400 | 253.497 | 280.897 |
| Other loans | 2.987 | 1.577 | 4.963 | - | 6.540 | 9.527 |
| 583.844 | 235.082 | 487.299 | 25.123 | 747.503 | 1.331.347 |
Although the commercial paper issues fall due at one year, they are covered by medium and long term programmes which ensure their automatic renewal over time. In view of these circumstances, and since the Group's Board of Directors intends to continue to use the said issues for periods greater than 12 months, said debts were recorded in long and medium term.
For the period ended September 30, 2014, there were no materially relevant alterations to the perimeter, hence the effects are not presented under the main headings of the statement of the financial position and income statement.
For the first nine months of 2014, the alterations occurred in the consolidation perimeter were as follows:
| Business Area - Europe - Engineering and Construction |
|---|
| ME Central Europe PPP Road |
| Business Area - Africa |
| Ecolife |
| Business Area - Latin America |
| Concessionária M&R |
| Autopista Siervo de la Nacion |
| Constitution of companies |
| Parent Company of the Group and related activities |
| SMGT Angola SGPS |
| Business Area - Europe - Engineering and Construction |
| Grodkowska Project Development |
| ME Central Europe PPP 3 |
| Business Area - Europe - Environment and Services |
| Transitex Itália |
| Porlis |
| Transitex Chile |
| SIGAMB |
| Business Area - África |
| ME África Finance BV |
| ME África GTS BV |
| Business Area - Latin America |
| Mota-Engil Col |
| Consorcio Los Faisanes |
| Consorcio Los Castãnos Consorcio ME Ojeda & Iju |
| Consorcio Fanning |
| Consorcio Porta |
| Consorcio La Ponciana |
| Business Area - Europe - Engineering and Construction |
|---|
| Eltor in Mota-Engil Central Europe Polónia |
| MECE EIP Energia in Mota-Engil Central Europe Polónia |
| ME Project in Mota-Engil Central Europe Polónia |
| Business Area - Africa |
| Acquisition of 20% of Vista Multi Services by Mota-Engil Angola |
| Business Area - Latin America |
| ME Brasil in MEBR |
| Leaving of companies |
| Business Area - Europe - Engineering and Construction |
| Zsombor wound up in December 2013 |
| Steinerova in wound up process |
| M-Invest Devonska wound up in March 2014 Mil e Sessenta wound up in September 2014 |
| Business Area - Europe - Environment and Services |
| SOL-S Internacional wound up in April 2014 |
| Business Area - Africa |
| Imolap in wound up process |
| Business Area - Latin America |
| Hidroeletrica Marañon classified as asset held for sale |
| Alteration to the consolidation method |
Promotora Inmobiliaria Santa Clara by the acquisition of 50% Change in consolidation method from the equity method to full consolidation of the following company in Latin America: Mota-Engil-Opway Mexicana by the acquisition of 50%
The General Meeting of April 30, 2014 decided, pursuant to the proposal from the Board, to distribute a dividend of 12.35 cents per share that have been paid in May 30.
Investments in subsidiaries included in consolidated financial statements
Investments in subsidiaries included in consolidated financial statements using the full consolidation method, their registered offices, the percentage of share capital held, their business, their constitution date, are as follows:
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Parent Company of the Group and Related Activities | |||||
| Mota-Engil, SGPS, S.A., Sociedade Aberta ("Mota-Engil SGPS") | Portugal (Porto) |
- | Management of financial holdings | Aug/90 | - |
| Largo do Paço – Investimentos Turísticos e Imobiliários, Lda. ("Largo do Paço") | Portugal (Amarante) |
100.00 | Real Estate Development | - | Oct/01 |
| Through Mota-Engil SGPS ME 3I, SGPS, S.A. ("ME 3I SGPS") |
Portugal | 100.00 61.20 |
Management of financial holdings | Oct/11 | - |
| Through Mota-Engil Indústria e Inovação | (Linda-a-Velha) | 61.20 | |||
| MESP Central Europe Sp. z o. o. ("MESP Central Europe") | Poland | 100.00 | Administrative Services | Dec/09 | - |
| Through Mota-Engil Serviços Partilhados MESP - Mota Engil , Serviços Partilhados, Administrativos e de Gestão, S.A. |
(Cracow) Portugal |
100.00 100.00 |
Administrative Services | Dec/02 | - |
| ("Mota-Engil Serviços Partilhados") | (Porto) | ||||
| Through Mota-Engil SGPS Mota-Engil Indústria e Inovação, SGPS, S.A. ("Mota-Engil Indústria e |
Portugal | 100.00 100.00 |
Management of financial holdings | Nov/10 | - |
| Inovação") | (Linda-a-Velha) | ||||
| Through Mota-Engil SGPS | 100.00 | ||||
| MK Contractors, LLC ("MKC") Through Mota-Engil Engenharia |
USA (Miami) |
100.00 100.00 |
Real Estate Development | Mar/02 | - |
| Mota-Engil Finance, B.V. ("ME Finance BV") | Netherlands | 100.00 | Consulting Services | Dec/12 | - |
| Through Mota-Engil SGPS | (Amsterdam) | 100.00 | |||
| Mota-Engil Mining Management (Proprietary) Limited ("ME Mining Management") |
South Africa | 100.00 | Human Resources Management in Mining | Apr/11 | - |
| Through Mota-Engil Minerals Mining Investment B.V. | (Johannesburg) | 100.00 | |||
| Mota-Engil Minerals & Mining (Malawi) Limited ("ME Minerals & Mining | Malawi (Lilongwe) | 99.99 | Prospecting, exploitation and processing of | Mar/11 | - |
| Malawi") Through Mota-Engil Minerals Mining Investment B.V. |
99.99 | minerals | |||
| Mota-Engil Minerals & Mining (Zimbabwe) (Private) Limited ("ME Minerals & | Zimbabwe (Harare) | 100.00 | Prospecting, exploitation and processing of | May/11 | - |
| Mining Zimbabwe") | minerals | ||||
| Through Mota-Engil Minerals Mining Investment B.V. Mota-Engil Minerals Mining Investment B.V. ("ME Minerals Mining |
Netherlands | 100.00 100.00 |
Oct/10 | - | |
| Investment BV") | (Amsterdam) | Management of other companies | |||
| Through Mota-Engil SGPS RTA - Rio Tâmega, Turismo e Recreio, S.A. ("RTA") |
Portugal | 100.00 100.00 |
Real Estate and Tourism | - | May/00 |
| Through Mota-Engil SGPS | (Amarante) | 100.00 | |||
| SGA – Sociedade de Golfe de Amarante, S.A. ("SGA") | Portugal | 97.17 | Golf Practice and Marketing and related | Dec/00 | - |
| Through RTA | (Amarante) | 96.89 | activities | ||
| Through Mota-Engil Engenharia | 0.28 | ||||
| Europe | |||||
| Engineering and Construction Mota-Engil Engenharia e Construção, S.A. ("Mota-Engil Engenharia") |
|||||
| Through Mota-Engil SGPS | Portugal (Amarante) |
100.00 100.00 |
Construction works, and purchase and sale of real estate |
- | Dec/00 |
| Aurimove – Sociedade Imobiliária, S.A. ("Aurimove") | Portugal | 100.00 | Real Estate Development | Dec/93 | - |
| Through Mota-Engil Real Estate Portugal | (Porto) | 100.00 | |||
| Calçadas do Douro - Sociedade Imobiliária, Lda. ("Calçadas do Douro") Through Mota-Engil Real Estate Portugal |
Portugal (Porto) |
100.00 100.00 |
Real Estate Development | - | Sep/00 |
| Carlos Augusto Pinto dos Santos & Filhos S.A. ("Capsfil") | Portugal | 100.00 | Extraction of gravel, sand and crushed stone | Mar/77 | Oct/09 |
| Through Mota-Engil Engenharia | (Vila Flor) | 100.00 | |||
| Corgimobil - Empresa Imobiliária das Corgas, Lda. ("Corgimobil") | Portugal | 97.25 | Construction works, studies and real estate | - | Nov/00 |
| Through Mota-Engil Engenharia Through Mota-Engil Real Estate Portugal |
(Cascais) | 71.79 25.46 |
|||
| Edifício Mota Viso – Soc. Imobiliária, Lda. ("Mota Viso") | Portugal | 100.00 | Real Estate Development | Jun/94 | - |
| Through Mota-Engil Real Estate Portugal | (Porto) | 100.00 | |||
| Edipainel – Sociedade Imobiliária, Lda. ("Edipainel") Through Mota-Engil Real Estate Portugal |
Portugal (Porto) |
100.00 70.00 |
Real Estate Development | Mar/02 | - |
| Through Mota-Engil Engenharia | 30.00 | ||||
| Glan Agua, Ltd ("Glanagua") | Ireland | 70.00 | Treatement of waste, exploitation and | Jan/08 | - |
| Through MEIS Grossiman, S.L. ("Grossiman") |
(Ballinasloe) | 70.00 | management of water sytems | ||
| Through Mota-Engil Engenharia | Spain (Alcobendas) |
100.00 100.00 |
Special foundations | Feb/96 | Dec/95 |
| Mercado Urbano - Gestão Imobiliária, S.A. ("Mercado Urbano") | Portugal | 100.00 | Real Estate Development | Jul/09 | Mar/11 |
| Through Mota-Engil Engenharia | (Porto) | 100.00 | |||
| Motadómus - Sociedade Imobiliária, Lda. ("Motadómus") Through Aurimove |
Portugal (Porto) |
100.00 95.00 |
Construction works | Jan/97 | Jan/01 |
| Through Mota-Engil Real Estate Portugal | 5.00 | ||||
| Mota-Engil Ireland Construction Limited ("Mota-Engil Irlanda") | Ireland | 60.00 | Construction works | Oct/07 | - |
| Through Mota-Engil Engenharia | 60.00 |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Mota-Engil Ireland Services Ltd. ("MEIS") Through Mota-Engil Engenharia |
Ireland | 70,00 70,00 |
Treatement of waste, exploitation and management of water sytems |
jan-08 | - |
| ME Real Estate - Mota-Engil Real Estate Portugal, S.A. ("Mota-Engil Real Estate Portugal") |
Portugal | 100,00 | Real Estate Development | set-01 | - |
| Through Mota-Engil Engenharia | (Porto) | 100,00 | |||
| Nortedomus, Sociedade Imobiliária SA. ("Nortedomus") | Portugal | 100,00 | Real Estate Development | - | out-01 |
| Through Mota-Engil Engenharia | (Lisbon) | 100,00 | |||
| Sedengil – Sociedade Imobiliária, S.A. ("Sedengil") | Portugal | 100,00 | Real Estate Development | out-82 | mai-95 / mai-97 |
| Through Mota-Engil Engenharia | (Matosinhos) | 100,00 | |||
| Mota-Engil Central Europe, SGPS, S.A. ("Mota-Engil Central Europe SGPS") | Portugal | 100,00 | Management of financial holdings | dez-02 | - |
| Through Mota-Engil Engenharia | 100,00 | ||||
| Bergamon, A.S. ("Bergamon") | Slovakia | 100,00 | Real Estate Development | mai-04 | - |
| Through Mota-Engil Central Europe, SGPS | (Bratislava) | 100,00 | |||
| Bicske Plaza Kft. ("Bicske Plaza") | Hungary | 100,00 | Real Estate Development | jan-08 | - |
| Through Mota-Engil Central Europe, SGPS | (Budapest) | 100,00 | |||
| Bohdalecká Project Development s.r.o. ("Bohdalecká") | Czech Republic | 100,00 | Real Estate Development | - | set-07 |
| Through Mota-Engil Central Europe, SGPS | (Prague) | 100,00 | |||
| Centralna Project Development Sp. z o.o. ("Centralna") | Poland | 100,00 | Real Estate Development | out-12 | - |
| Through Mota-Engil Central Europe, SGPS | (Cracow) | 100,00 | |||
| Devonská Project Development A.S. ("Devonská") | Czech Republic | 100,00 | Real Estate Development | dez-06 | - |
| Through Mota-Engil Central Europe Polónia | (Prague) | 100,00 | |||
| Dmowskiego Project Development, Sp. z.o.o. ("Dmowskiego") | Poland | 100,00 | Real Estate Development | ago-07 | - |
| Through Mota-Engil Central Europe Polónia | (Cracow) | 100,00 | |||
| Ekosrodowisko Spólka z.o.o. ("Ekosrodowisko") | Poland | 61,50 | Urban solid waste | fev-05 | dez-05 |
| Through MES | (Bytom) | 61,50 | |||
| Hungária Hotel Kft. ("Hotel Achat Hungria") | Hungary | 100,00 | Real Estate Development | jun-08 | - |
| Through Mota-Engil Central Europe, SGPS Immo Park Gdańsk, Sp. z.o.o. ("Immo Park Gdańsk") |
(Budapest) Poland |
100,00 100,00 |
Design, construction, management and | mar-13 | |
| Through Mota-Engil Central Europe Polónia | (Cracow) | 100,00 | exploitation of parking lots | - | |
| Immo Park Warszawa, Sp. z.o.o. ("Immo Park Warszawa") | Poland | 100,00 | Design, construction, management and | out-12 | - |
| Through Mota-Engil Central Europe Polónia | (Cracow) | 100,00 | exploitation of parking lots | ||
| Immo Park, Sp. z.o.o. ("Immo Park") | Poland | 88,00 | Design, construction, management and | jan-08 | mar-11 |
| Through Mota-Engil Central Europe Polónia | (Cracow) | 47,00 | exploitation of parking lots | ||
| Through Mota-Engil Central Europe, SGPS | 40,00 | ||||
| Through Mota-Engil Engenharia | 1,00 | ||||
| Jeremiasova Project Development, s.r.o. ("Jeremiasova") | Czech Republic | 100,00 | Real Estate Development | jun-08 | out-09 |
| Through Mota-Engil Central Europe Polónia | (Prague) | 99,00 | |||
| Through Mota-Engil Central Europe República Checa | 1,00 | ||||
| Kilinskiego Project Development Sp. z.o.o. ("Kilinskiego") | Poland | 100,00 | Real Estate Development | ago-07 | - |
| Through Mota-Engil Central Europe Polónia | (Cracow) | 100,00 | |||
| Kilinskiego Property Investment Sp. z.o.o. ("Kilinskiego PI") | Poland | 100,00 | Real Estate Development | set-11 | - |
| Through Kilinskiego | (Cracow) | 99,99 | |||
| Through Mota-Engil Central Europe Polónia | 0,01 | ||||
| Kordylewskiego Project Development Sp. z o.o. ("Kordylewskiego") | Poland | 100,00 | Real Estate Development | fev-05 | - |
| Through Mota-Engil Central Europe, SGPS | (Cracow) | 100,00 | |||
| Lanval Sp. z o.o. ("Lanval") | Poland | 100,00 | Construction works and purchase and | - | dez-13 |
| Through Mota-Engil SGPS | (Cracow) | 100,00 | sale of real estate | ||
| MES, Mota-Engil Srodowisko, Sp. z.o.o. ("MES") | Poland | 61,50 | Urban solid waste | dez-05 | - |
| Through Suma | (Cracow) | 61,50 | |||
| Metroepszolg, Zrt ("Metroepszolg") | Hungary | 100,00 | Public works | dez-00 | - |
| Through Mota-Engil Magyarország | (Budapest) | 100,00 | |||
| M-Invest Bohdalec, A.S., v likvidaci ("M-Invest Bohdalec") | Czech Republic | 100,00 | Real Estate Development | set-03 | - |
| Through Mota-Engil Central Europe, SGPS | (Prague) | 100,00 |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Mota-Engil Central Europe, S.A. ("Mota-Engil Central Europe Polónia") | Poland | 100,00 | Construction works | fev-53 | mar-99 |
| Through Mota-Engil Central Europe, SGPS | (Cracow) | 93,50 | |||
| Through Mota-Engil Real Estate Management | 3,80 | ||||
| Through Mota-Engil Central Europe Polónia (own shares) | 2,70 | ||||
| Mota-Engil Central Europe Ceska Republika, AS ("Mota-Engil Central | Czech Republic | 100,00 | Construction and public works | jan-97 | - |
| Europe República Checa") | (Prague) | ||||
| Through Mota-Engil Central Europe Polónia Mota-Engil Central Europe Hungary Beruházási és Építoipari Kft. ("ME |
Hungary | 100,00 | Construction and public works | fev-08 | - |
| Central Europe Hungria") | (Budapest) | 100,00 | |||
| Through Mota-Engil Central Europe Polónia | 100,00 | ||||
| Mota-Engil Central Europe Romania S.R.L. ("Mota-Engil Central Europe | Romania | Road construction works | jul-09 | - | |
| Roménia") | (Bucharest) | 100,00 | |||
| Through Mota-Engil Central Europe Polónia | 100,00 | ||||
| Mota-Engil Central Europe Slovenská Republika, AS ("Mota-Engil Central | Slovakia | 100,00 | Construction works | ago-04 | - |
| Europe Eslováquia") | (Bratislava) | ||||
| Through Mota-Engil Central Europe Polónia Mota-Engil Brand Management B.V. ("Mota-Engil Brand Management") |
Netherlands | 100,00 100,00 |
Management of trademarks and other | dez-09 | - |
| Through Mota-Engil Central Europe, SGPS | (Amsterdam) | 100,00 | intellectual property | ||
| Mota-Engil, Brands Development Limited ("Mota-Engil Brands | Ireland | Marketing and development of | dez-09 | - | |
| Development") | (Dublin) | 100,00 | trademarks and other intellectual | ||
| Through Mota-Engil Central Europe, SGPS | 100,00 | property | |||
| Mota-Engil Investitii AV s.r.l. ("Mota-Engil Investitii") | Romania | 100,00 | Real Estate Development | - | set-07 |
| Through Mota-Engil Central Europe, SGPS | (Bucharest) | 100,00 | |||
| Mota-Engil Magyarország Zrt. ("Mota-Engil Magyarország") | Hungary | 100,00 | Public works | jan-96 | - |
| Through Mota-Engil Engenharia | (Budapest) | 100,00 | |||
| Mota-Engil Parking 2 Sp. z.o.o ("ME Parking 2") | Poland | 100,00 | Design, construction, management and | mar-12 | - |
| Through Mota-Engil Central Europe Polónia | (Cracow) | 100,00 | exploitation of parking lots | ||
| Mota-Engil Central Europe PPP Sp. z.o.o ("ME Central Europe PPP") | Poland | 100,00 | Design and construction of social | mar-12 | - |
| Through Mota-Engil Central Europe Polónia | (Cracow) | 100,00 | housing | ||
| Mota-Engil Central Europe PPP 2 Sp. z.o.o ("ME Central Europe PPP 2") | Poland | 100,00 | Design and construction of social | dez/13 | - |
| Through Mota-Engil Central Europe Polónia | (Cracow) | 100,00 | housing | ||
| Mota-Engil Central Europe PPP Road Sp. z.o.o ("ME Central Europe PPP | Poland | 100,00 | Design and construction of social | - | nov-13 |
| Road") Through Mota-Engil Central Europe Polónia |
(Cracow) | 100,00 | housing | ||
| Poland | 100,00 | Design and construction of social | abr-14 | - | |
| Mota-Engil Central Europe PPP 3 Sp. Z.o.o (ME Central Europe PPP 3) | (Cracow) | housing | |||
| Through Mota-Engil Central Europe Polónia | 100,00 | ||||
| Grodkowska Project Development Sp. z.o.o ("Grodkowska Project | Poland | 100,00 | Design and construction of social | mar-14 | - |
| Development ") | (Cracow) | housing | |||
| Through Mota-Engil Central Europe Polónia | 100,00 | ||||
| Mota-Engil Project 1 Kft. ("ME Project 1") | Hungary | 100,00 | Public works | out-05 | - |
| Through Mota-Engil Real Estate Hungria | (Budapest) | 100,00 | |||
| Mota-Engil Real Estate Hungary Kft ("Mota-Engil Real Estate Hungria") | Hungary | 100,00 | Real Estate Development | jul-05 | - |
| Through Mota-Engil Central Europe, SGPS Mota-Engil Real Estate Management, sp. z.o.o. ("Mota-Engil Real Estate |
(Budapest) | 100,00 | |||
| Management") | Poland (Cracow) |
100,00 | Real Estate Development | jun-05 | - |
| Through Mota-Engil Central Europe, SGPS | 100,00 | ||||
| Balice Project Development Sp. z o.o. ("Balice") | Poland | 100,00 | Real Estate Development | out-12 | - |
| Through Mota-Engil Central Europe, SGPS | (Cracow) | 100,00 | |||
| Sikorki Project Development Sp. z o.o. ("Sikorki") | Poland | 100,00 | Real Estate Development | out-12 | - |
| Through Mota-Engil Central Europe, SGPS | (Cracow) | 100,00 | |||
| Soltysowska Project Development Sp. z o.o. ("Soltysowska") | Poland | 100,00 | Real Estate Development | nov-05 | - |
| Through Mota-Engil Central Europe, SGPS | (Cracow) | 100,00 | |||
| Száz - Invest Project Development Kft. ("Száz - Invest") | Hungary | 100,00 | Real Estate Development | ago-11 | - |
| Through Mota-Engil Central Europe, SGPS | (Budapest) | 100,00 | |||
| Tetenyi Project Development Kft ("Tetenyi") | Hungary | 100,00 | Real Estate Development | jan-05 | - |
| Through Mota-Engil Central Europe, SGPS | (Budapest) | 100,00 | |||
| Wilanow Project Development SP. z.o.o. ("Wilanow") | Poland | 100,00 | Real Estate Development | jun-07 | - |
| Through Mota-Engil Central Europe, SGPS | (Cracow) | 100,00 | |||
| Wilenska Project Development Sp. z.o.o. ("Wilenska") | Poland (Cracow) |
100,00 | Real Estate Development | jan-05 | - |
| Through Mota-Engil Central Europe, SGPS Zöld-Project 2 Kft. ("Zold-Project 2") |
Hungary | 100,00 100,00 |
Public works | jun-08 | - |
| Through Mota-Engil Central Europe, SGPS | (Budapest) | 100,00 | |||
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Environment and Services | |||||
| Mota-Engil, Ambiente e Serviços, SGPS, S.A. ("Mota-Engil Ambiente e Serviços") Through Mota-Engil SGPS |
Portugal (Porto) |
100,00 100,00 |
Management of financial holdings | jun-97 | - |
| AGIR - Ambiente e Gestão Integrada de Resíduos, Lda. ("Agir") | Cape Verde | 80,75 | Collection of urban solid waste | dez-07 | - |
| Through Mota-Engil Ambiente e Serviços Through Suma |
(Praia) | 50,00 30,75 |
|||
| Áreagolfe - Gestão, Construção e Manutenção de Campos de Golfe, S.A. ("Áreagolfe") Through Vibeiras |
Portugal (Torres Novas) |
66,67 66,67 |
Management, construction and maintenance of golf courses |
- | jul-07 |
| CH&P – Combined Heat & Power Anadia, Sociedade Unipessoal, Lda ("CH&P Anadia") Through Manvia |
Portugal (Linda-a-Velha) |
90,00 90,00 |
Exploitation of a co-generation plant for the production of electric and thermal energy |
mai-11 | - |
| CH&P – Combined Heat & Power Coja, Unipessoal, Lda ("CH&P Coja") | Portugal (Linda-a-Velha) |
90,00 | Exploitation of a co-generation plant for the production of electric and thermal |
mai-11 | - |
| Through Manvia Citrave - Centro Integrado de Tratamento de Resíduos de Aveiro, S.A. ("Citrave") |
Portugal (Lisbon) |
90,00 61,50 |
energy Treatment and disposal of non-hazardous waste |
dez-87 | out-06 |
| Through Suma | 61,41 | ||||
| Through Novaflex Through Suma Esposende |
0,05 0,05 |
||||
| Correia & Correia, Lda. ("Correia & Correia") | Portugal | 48,19 | Trade and collection of used oils | set-88 | fev-00 |
| Through Enviroil | (Sertã) | 48,19 | |||
| Enviroil SGPS, Lda. ("Enviroil") | Portugal | 48,19 | Management of financial holdings | nov-97 | - |
| Through Suma | (Torres Novas) | 48,19 | |||
| Enviroil II – Reciclagem de Óleos Usados, Lda. ("Enviroil II") Through Enviroil |
Portugal (Torres Novas) |
43,37 43,37 |
Oil recycling, electricity production and bulk trade of fuels and related products |
abr-11 | - |
| FCT - Ferrol Container Terminals S.L.U ("Ferrol") | Spain | 34,80 | Cargo handling | mar-11 | - |
| Through TCL | (Ferrol) | 34,80 | |||
| InvestAmbiente - Recolha de Resíduos e Gestão de Sistemas de Saneamento Básico, S.A. ("Investambiente") Through Novaflex |
Portugal (Lisbon) |
31,98 31,98 |
Collection of non-hazardous waste | fev-00 | dez-07 |
| Liscont - Operadores de Contentores, S.A. ("Liscont") | Portugal | 52,36 | Port operations | nov-83 | out-06 |
| Through TTP | (Lisbon) | 52,36 | |||
| Lokemark - Soluções de Marketing, S.A. ("Lokemark") Through Mota-Engil Ambiente e Serviços |
Portugal (Setúbal) |
70,00 70,00 |
Services, marketing solutions, construction and sale of data bases, management and exploitation of the |
jun-03 | set-07 |
| Manvia - Manutenção e Exploração de Instalações e Construção, S.A. ("Manvia") |
Portugal (Linda-a-Velha) |
90,00 | postal service's infrastructures Maintenance and exploitation of installations |
jul-94 | jun-98 |
| Through Mota-Engil Ambiente e Serviços | 90,00 | ||||
| Mota-Engil Energia, S.A. ("Mota-Engil Energia") | Portugal | 100,00 | Production of hydroelectricity | jun-10 | - |
| Through Mota-Engil SGPS Mota-Engil II, Gestão, Ambiente, Energia e Concessões de Serviços, S.A. ("MEAS II") |
(Linda-a-Velha) Portugal (Porto) |
100,00 100,00 |
Projects' management | dez-03 | - |
| Through Mota-Engil Ambiente e Serviços | 100,00 | ||||
| Multiterminal - Soc. de Estiva e Tráfego, S.A. ("Multiterminal") | Portugal | 100,00 | Exploitation of port terminals | mai-79 | out-06 |
| Through Tertir | (Lisbon) | 100,00 | |||
| Nova Beira - Gestão de Resíduos, S.A. ("Nova Beira") Through Novaflex Through Investambiente |
Portugal (Lisbon) |
30,85 20,30 10,55 |
Treatment and disposal of non-hazardous waste |
- | dez-07 |
| Novaflex - Técnicas do Ambiente, S.A. ("Novaflex") Through Suma |
Portugal (Lisbon) |
61,50 61,50 |
Collection of other non-hazardous waste | - | dez-07 |
| Proempar - Promoção e Gestão de Parques Empresariais e Tecnológicos, | Portugal | 100,00 | Marketing, management and exploitation | out-06 | - |
| S.A. ("Proempar") Through Mota-Engil Ambiente e Serviços |
(Porto) | 74,00 | of technological and industrial business parks |
||
| Through Mota-Engil Engenharia | 26,00 | ||||
| PTT - Parque Tecnológico do Tâmega, S.A. ("PTT") | Portugal | 90,00 | Marketing and management of | dez-06 | - |
| Through Proempar | (Felgueiras) | 70,00 | technological business hosting | ||
| Through Mota-Engil Ambiente e Serviços Through Mota-Engil Engenharia |
10,00 10,00 |
||||
| Real Verde - Técnicas de Ambiente, S.A. ("Real Verde") | Portugal | 61,50 | Treatment and disposal of other non | dez-07 | - |
| Through Novaflex | (Vila Real) | 61,50 | hazardous waste | ||
| Resiges - Gestão de Resíduos Hospitalares, Lda. ("Resiges") Through Novaflex |
Portugal (Setúbal) |
61,50 61,50 |
Collection of hazardous waste | mai-98 | dez-07 |
| Resilei – Tratamento de Resíduos Industriais, S.A. ("Resilei") | Portugal | 30,75 | Treatment and disposal of other non | - | jun-03 |
| Through Suma | (Leiria) | 30,75 | hazardous waste | ||
| Rima – Resíduos Industriais e Meio Ambiente, S.A. ("Rima") | Portugal | 59,12 | Treatment of industrial waste | ago-01 | - |
| Through Suma | (Lourosa) | 59,12 | |||
| Sealine - Navegação e Afretamentos, Lda ("Sealine") Through Socarpor SGPS Through Socarpor Aveiro |
Portugal (Aveiro) |
38,39 32,26 6,13 |
Navigation agents | - | out-06 |
| SIGA - Serviço Integrado de Gestão Ambiental, S.A. ("Siga") | Portugal | 43,05 | Treatment and disposal of non-hazardous | out-08 | - |
| Through Suma | (Ponta Delgada) | 43,05 | waste |
| Effective holding | |||||
|---|---|---|---|---|---|
| Designation | Headquarters | percentage | Activity | Set up date | Acquisition date |
| Socarpor - Soc. Cargas Port. (Aveiro), S.A. ("Socarpor Aveiro") | Portugal | 40.85 | Port services | - | Oct/06 |
| Through Socarpor SGPS Through TTP |
(Aveiro) | 28.47 6.31 |
|||
| Through Socarpor Aveiro (own shares) | 6.07 | ||||
| Socarpor - Soc. Gestora de Participações Sociais (Douro/ Leixões), S.A. | Portugal | 37.96 | Management of financial holdings | - | Oct/06 |
| ("Socarpor SGPS") | (Matosinhos) | ||||
| Through TTP and own shares Sotagus - Terminal de Contentores de Santa Apolónia, S.A. ("Sotagus") |
Portugal | 37.96 63.13 |
Port operations | - | Oct/06 |
| Through TTP | (Lisbon) | 63.13 | |||
| SRI - Gestão de Resíduos, Lda ("SRI") | Portugal | 48.19 | Collection of hazardous waste | Jul/08 | - |
| Through Correia & Correia | (Sertã) | 48.19 | |||
| SIGAMB - Sistemas de GesT. Ambiental (Angola) ("SIGAMB") Through Novaflex |
Angola (Luanda) |
61.44 61.44 |
Technical studies, consulting and environmental trainning |
Feb/14 | |
| STM - Sociedade de Terminais de Moçambique, Lda ("STM") | Mozambique | 50.00 | Port operations | Feb/94 | Feb/94 |
| Through Tertir | (Maputo) | 50.00 | |||
| Suma (Douro) - Serviços Urbanos e Meio Ambiente, Lda. ("Suma Douro") | Portugal | 61.50 | Collection of urban solid waste | Jul/00 | - |
| Through Suma Suma (Esposende) - Serviços Urbanos e Meio Ambiente, Lda. ("Suma |
(Murça) Portugal |
61.50 61.50 |
Collection of urban solid waste | Dec/99 | - |
| Esposende") | (Esposende) | ||||
| Through Suma | 61.50 | ||||
| Suma (Matosinhos) - Serviços Urbanos e Meio Ambiente, S.A. ("Suma | Portugal | 61.50 | Collection of urban solid waste | Dec/00 | - |
| Matosinhos") | (Matosinhos) | ||||
| Through Suma Suma (Porto) - Serviços Urbanos e Meio Ambiente, S.A. ("Suma Porto") |
Portugal | 61.50 61.50 |
Collection of urban solid waste | Nov/08 | - |
| Through Suma | (Porto) | 61.50 | |||
| Suma – Serviços Urbanos e Meio Ambiente, S.A. ("Suma") | Portugal | 61.50 | Collection of urban solid waste | Jun/94 | - |
| Through Mota-Engil Ambiente e Serviços Takargo-Trasporte de Mercadorias, S.A. ("Takargo") |
(Lisbon) | 61.50 | |||
| Through ME Logística | Portugal (Linda-a-Velha) |
100.00 70.00 |
Rail transport of goods | Sep/06 | - |
| Through Mota-Engil Engenharia | 30.00 | ||||
| TCL - Terminal de Contentores de Leixões, S.A. ("TCL") | Portugal | 34.80 | Cargo handling | Jan/96 | - |
| Through TTP | (Matosinhos) | 18.69 | |||
| Through TCL (own shares) Through Socarpor SGPS |
1.78 14.33 |
||||
| TCR – Tratamento Complementar de Resíduos, S.A. ("TCR") | Portugal | 37.29 | Construction and exploitation of a landfill | Nov/12 | - |
| Through Suma | (Porto) | 36.29 | |||
| Through Mota-Engil Engenharia Mota-Engil Logística, SGPS, S.A. ("ME Logística") |
Portugal | 1.00 100.00 |
Management of financial holdings | Apr/13 | - |
| Through Mota-Engil Ambiente e Serviços | (Porto) | 100.00 | |||
| Tertir - Concessões Portuárias, SGPS, S.A. ("Tertir SGPS") | Portugal | 100.00 | Management of financial holdings | Oct/07 | - |
| Through Tertir | (Linda-a-Velha) | 68.89 | |||
| Through Multiterminal Tertir - Terminais de Portugal, S.A. ("Tertir") |
Portugal | 31.11 100.00 |
Exploitation of port terminals | - | Oct/06 |
| Through Mota-Engil Ambiente e Serviços | (Matosinhos) | 64.67 | |||
| Through ME Logística | 35.33 | ||||
| Tertir - Terminais Portuários, SGPS, S.A. ("TTP") | Portugal | 63.13 | Management of financial holdings | Jun/13 | - |
| Through ME Logística Porlis - Empresa de Trabalho Portuário, Lda (Porlis) |
(Linda-a-Velha) Portugal |
63.13 52.74 |
Temporary assignment of employees to | set/13 | - |
| Through Liscont | (Lisbon) | 28.80 | carry out port cargo handling tasks. | ||
| Through Sotagus | 18.94 | ||||
| Through Multiterminal | 5.00 | ||||
| Transitex do Brasil Serviços de Logística, Ltda. ("Transitex Brasil") Through Transitex Spain |
Brazil (São Paulo) |
85.00 84.41 |
Organisation of transport by land, sea or air | May/10 | - |
| Through Transitex Portugal | 0.60 | ||||
| Transitex Colombia, S.A.S.("Transitex Colombia") | Colombia | 85.00 | Organisation of transport by land, sea or air | Dec/11 | Jan/12 |
| Through Transitex Spain | (Bogotá) | 85.00 | |||
| Transitex Moçambique, Lda ("Transitex Moçambique") Through Transitex Portugal |
Mozambique (Maputo) |
85.00 80.75 |
Organisation of transport by land, sea or air | Nov/08 | - |
| Through Transitex Spain | 4.25 | ||||
| Transitex México, S.A. de C.V. ("Transitex México") | Mexico | 85.00 | Organisation of transport by land, sea or air | Feb/09 | - |
| Through Transitex Spain | (Mexico City) | 85.00 | |||
| Through Transitex Portugal Transitex - Trânsitos de Extremadura, S.A. ("Transitex Portugal") |
Portugal | 0.002 85.00 |
Organisation of transport by land, sea or air | May/08 | - |
| Through Transitex Spain | (Lisbon) | 85.00 | |||
| Transitex - Trânsitos de Extremadura, S.L. ("Transitex Espanha") | Spain | 85.00 | Organisation of transport by land, sea or air | Nov/02 | - |
| Through Tertir SGPS | (Badajoz) | 85.00 |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Transitex Itália S.R.L ("Transitex Itália") Through Transitex Espanha |
Italia (Milan) |
85,00 85,00 |
Organisation of transport by land, sea or air |
mar-14 | - |
| Transitex Global Logistics Operations ("Transitex África do Sul") | South Africa | 85,00 | Organisation of transport by land, sea or | jan-12 | - |
| Through Transitex Portugal Transitex Peru SAC ("Transitex Peru") |
(Isando) Peru |
85,00 46,75 |
air Organisation of transport by land, sea or |
jan-12 | - |
| Through Transitex Spain Through Transitex Brazil |
(Callao) | 29,84 16,92 |
air | ||
| Transitex Transitos Extremadura Chile ("Transitex Chile") | Chile | 85,00 | Organisation of transport by land, sea or | abr-14 | - |
| Through Transitex Brasil Tratofoz - Sociedade de Tratamento de Resíduos, S.A. ("Tratofoz") |
(Santiago) Portugal |
85,00 99,62 |
air Collection of urban solid waste |
out-02 | - |
| Through Mota-Engil Ambiente e Serviços Through Suma |
(Porto) | 99,00 0,62 |
|||
| Triu - Técnicas de Resíduos Industriais e Urbanos, S.A. ("Triu") | Portugal | 48,19 | Collection of non-hazardous waste | abr-91 | set-08 |
| Through Enviroil Vibeiras – Sociedade Comercial de Plantas, S.A. ("Vibeiras") |
(Loures) Portugal |
48,19 66,67 |
Landscape gardening | jul-88 | out-98 |
| Through Mota-Engil Ambiente e Serviços | (Torres Novas) | 66,67 | |||
| VBT - Projectos e Obras de Arquitectura Paisagística, Lda ("VBT") Through Vibeiras |
Angola (Luanda) |
43,34 33,34 |
Landscape gardening | set-08 | - |
| Through Mota-Engil Ambiente e Serviços | 10,00 | ||||
| Africa | |||||
| Mota-Engil Engenharia e Construção África, S.A. ("MEEC África") Through Mota-Engil SGPS |
Portugal (Porto) |
100,00 100,00 |
Construction works | ago-12 | - |
| Mota-Engil África, N.V. ("ME África NV") | Netherlands | 100,00 | Management of societies' management | out-12 | - |
| Through Mota-Engil SGPS Mota-Engil África, SGPS, S.A. ("Mota-Engil África") |
(Amsterdam) Portugal |
100,00 100,00 |
Management of financial holdings | mai-10 | - |
| Through MEEC Africa | (Porto) | 100,00 | |||
| Mota-Engil África Finance B.V. ("ME África Finance BV") Through Mota-Engil África N.V. |
Netherlands (Amsterdam) |
100,00 100,00 |
Management of societies' management | mai-14 | - |
| Mota-Engil África Global Technical Services B.V. ("ME África GTS BV") | Netherlands | 100,00 | Management of societies' management | mai-14 | - |
| Through Mota-Engil África N.V. | (Amsterdam) | 100,00 | |||
| Mota Internacional – Comércio e Consultadoria Económica, Lda. ("Mota Internacional") |
Portugal (Funchal) |
100,00 | Trade and management of international holdings |
set-97 | dez-98 |
| Through Mota-Engil Africa Akwangola, S.A. ("Akwangola") |
Angola | 100,00 48,28 |
Exploitation of water market | dez-10 | dez 13 |
| Through Vista Water | (Luanda) | 48,28 | |||
| Cecot - Centro de Estudos e Consultas Técnicas, Lda. ("Cecot") Through MEEC Africa |
Mozambique (Maputo) |
100,00 100,00 |
Construction works' projects and inspection |
set-98 | abr-11 |
| Cosamo (Proprietary) Limited ("Cosamo") | South Africa | 100,00 | Commercial | dez-76 | - |
| Through Mota Internacional Fibreglass Sundlete (Moç), Lda. ("Fibreglass") |
(Johannesburg) Mozambique |
100,00 100,00 |
Commercial | ago-62 | mar-99 |
| Through ME Mauritius Ecolife, S.A. ("Ecolife") |
(Maputo) Moçambique |
100,00 58,45 |
dez-13 | - | |
| Através da Mota-Internacional | (Maputo) | 40,00 | Collection of urban solid waste | ||
| Através da Suma Emocil – Empresa Moçambicana de Construção e Promoção Imobiliária, Lda. |
Mozambique | 18,45 | jul-94 | - | |
| ("Emocil") | (Maputo) | 100,00 | Real Estate Development | ||
| Through MEEC Africa Through Indimo |
50,00 50,00 |
||||
| Fatra - Fábrica de Trefilaria de Angola, S.A. ("Fatra") Through Mota-Engil Angola |
Angola (Luanda) |
35,70 35,70 |
Manufacturing of iron-derived products | - | nov-10 |
| Mota-Engil Angola, S.A. ("Mota-Engil Angola") | Angola | 51,00 | Construction works and public and | mai-10 | - |
| Through Mota Internacional Indimo, Lda. ("Indimo") |
(Luanda) Mozambique |
51,00 100,00 |
private works | - | out-04 |
| Through Cecot | (Maputo) | 50,00 | Real Estate Development | ||
| Through MEEC Africa Malawi Ports Company Limited ("Malawi Ports Company") |
Malawi | 50,00 100,00 |
nov-10 | - | |
| Through MEEC Africa | (Lilongwe) | 88,00 | Sea transport | ||
| Through ME Malawi Malawi Shipping Company Limited ("Malawi Shipping Company") |
Malawi | 12,00 100,00 |
nov-10 | - | |
| Through MEEC Africa Through ME Malawi |
(Lilongwe) | 88,00 12,00 |
Sea transport | ||
| Martinox, SA ("Martinox") | Angola | 48,45 | Stainless steel works | fev-08 | dez-11 |
| Through Mota-Engil Angola Mota & Companhia Maurícias, Lda. ("ME Maurícias") |
(Benguela) Mauritius |
48,45 100,00 |
mai-10 | - | |
| Through MEEC Africa | (Ebene) | 100,00 | Construction works | ||
| Mota-Engil (Malawi) Limited ("ME Malawi") Through MEEC Africa |
Malawi (Lilongwe) |
99,99 99,99 |
Public works and /or construction works contractor |
jul-11 | - |
| Mota-Engil Investments (Malawi) Limited ("ME Investments Malawi") | Malawi | 99,00 | Public works and /or construction works | mar-11 | - |
| Through Mota-Engil Africa Mota-Engil S.Tomé e Principe, Lda. ("Mota-Engil S.Tomé") |
(Lilongwe) S. Tomé e Príncipe |
99,00 100,00 |
contractor Public works and /or construction works |
dez-04 | - |
| Through Mota Internacional | (S. Tomé) | 95,00 | contractor | ||
| Through MEEC Africa | 5,00 |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Novicer-Cerâmicas de Angola, Lda. ("Novicer") | Angola | 51.00 | Manufacturing and trade in clay goods | Sep/07 | - |
| Through Mota-Engil Angola Prefal – Préfabricados de Luanda, Lda. ("Prefal") |
(Luanda) Angola |
51.00 45.90 |
Manufacturing of prestressed goods | Dec/93 | - |
| Through Mota-Engil Angola Penta - Engenharia e Construção, Lda. ("Penta") Through MEEC Africa |
(Luanda) Cape Verde |
45.90 100.00 96.00 |
Construction works and public and private works |
Apr/07 | - |
| Through Mota Internacional Rentaco Angola - Equipamentos e Transportes, Lda. ("Rentaco Angola") |
Angola | 4.00 51.00 |
Rental of construction equipment | Jan/08 | - |
| Through Mota-Engil Angola Sonauta - Sociedade de Navegação, Lda. ("Sonauta") |
(Luanda) Angola |
51.00 100.00 |
Sea transport, excluding coastal transport | Nov/94 | - |
| Through Mota Internacional Tracevia Angola - Sinalização, Segurança e Gestão de Tráfego, Lda. ("Tracevia |
(Luanda) Angola |
100.00 40.80 |
Road signs | - | Sep/07 |
| Angola") Through Mota-Engil Angola |
(Luanda) | 40.80 | |||
| Vista Energy Environment & Services, S.A. ("Vista SA") Through Mota-Engil Angola |
Angola (Luanda) |
51.00 51.00 |
Management of financial holdings | Jul/08 | Dec/13 |
| Vista Waste Management, Lda ("Vista Waste") Through Mota-Engil Angola Through Vista SA Through Suma |
Angola (Luanda) |
56.15 5.10 20.91 30.14 |
Collection of waste | Dec/09 | - |
| Vista Multi Services, Lda ("Vista Multi Services") Through Vista SA |
Angola (Luanda) |
51.00 40.80 |
Urban services | May/09 | Dec/13 |
| Through Mota-Engil Angola Vista Water, Lda. ("Vista Water") Through Mota-Engil Angola Through Vista SA Through Indaqua |
Angola (Luanda) |
10.20 48.32 6.38 21.68 20.27 |
Exploitation of the water market | May/09 | Dec/13 |
| Latin America | |||||
| Mota-Engil Latin America BV ("ME Latin America") Through Mota-Engil SGPS |
Netherlands (Amsterdam) |
100.00 100.00 |
Management of financial holdings | Nov/98 | - |
| Construcciones dos Puertos SA de CV ("Construcciones dos Puertos") Through Mota-Engil Mexico |
Mexico (Xalapa) |
70.00 70.00 |
Construction and public works | Jul/12 | |
| Empresa Construtora Brasil, SA ("Empresa Construtora Brasil") Through Mota-Engil Brasil Participações, Ltda |
Brazil (Belo Horizonte) |
50.00 50.00 |
Construction and public works | Nov/12 | - |
| Rentaco Peru ("Rentaco Peru") Through Mota-Engil Peru Through Mota-Engil Engenharia |
Peru | 100.00 99.90 0.10 |
Generation and distribution of electric energy |
Feb/13 | - |
| MEBR Engenharia, Consultoria e Participações, Ltda. ("MEBR") Through Mota-Engil Latin America BV Through Mota-Engil Peru |
Brazil (São Paulo) |
100.00 57.69 42.31 |
Construction and public works | Mar/11 | - |
| Mota-Engil Colômbia, S.A.S ("Mota-Engil Colômbia") Through Mota-Engil Peru |
Colombia (Bogota) |
100.00 100.00 |
Construction and public works | Feb/11 | - |
| Mota-Engil Col, S.A.S ("Mota-Engil Col") Through Mota-Engil Engenharia Through Mota-Engil Peru |
Colombia (Bogota) |
100.00 99.00 1.00 |
Construction and public works | - | - |
| Mota-Engil Energia Peru S.A. ("Mota-Engil Energia Peru") Through Mota-Engil Peru Through Mota-Engil Engenharia |
Peru (Lima) |
100.00 99.98 0.02 |
Other business activities | May/11 | |
| Mota-Engil México, S.A. de C.V. ("Mota-Engil México") Through Mota-Engil Engenharia Through Mota Internacional |
Mexico (Mexico City) |
100.00 99.98 0.02 |
Construction and public works | Jan/10 | - |
| Mota-Engil-Opway Mexicana, S.A. De C.V. ("Mota-Engil-Opway Mexicana") Through Mota-Engil Engenharia |
Mexico (Mexico City) |
100.00 100.00 |
Management of financial holdings | Jan/10 | |
| Mota-Engil Peru, S.A. ("Mota-Engil Peru") Through Mota-Engil Latin America BV Through Mota-Engil Engenharia |
Peru (Lima) |
100.00 99.90 0.10 |
Construction and public works | Sep/86 | Jun/98 |
| Mota-Engil Peru Ambiente e Serviços, S.A. ("MEAS Peru") Through Mota-Engil Peru Through Mota-Engil Engenharia e Construção |
Peru (Lima) |
100.00 99.90 0.10 |
Other business activities | Oct/11 | |
| Tarucani Generating Company S.A. ("Tarucani") Through Mota- Engil Energia Peru Through Mota- Engil Peru |
Peru (Lima) |
100.00 99.98 0.02 |
Generation and distribution of electric energy |
Apr/00 | |
| Tertir Peru, S.A. ("Tertir Peru") Through Tertir Through Mota-Engil Peru |
Peru (Lima) |
100.00 80.00 20.00 |
Exploitation of terminals | - | - |
| Tracevia do Brasil -Sistemas de Telemática Rodoviaria Ltda. ("Tracevia Brasil") Through MEBR Engenharia, Consultoria e Participações, Ltda. |
Brazil (São Paulo) |
100.00 99.00 |
Design, installation, development and maintenance of ITS |
Mar/11 | - |
| Through ME Brasil Participações Promotora Inmobiliaria Santa Clara S.A. ("Santa Clara") Through Mota-Engil Peru |
Peru | 1.00 100.00 100.00 |
Property promotion services | mai/12 | - |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Consórcio Los Faisanes ("Consórcio Los Faisanes") | Peru | 100,00 | Construction of departments | dez-11 | - |
| Through Mota-Engil Peru | 100,00 | ||||
| Consórcio Los Castãnos ("Consórcio Los Castãnos") | Peru | 100,00 | Construction of departments | dez-11 | - |
| Through Mota-Engil Peru | 100,00 | ||||
| Consórcio Mota-Engil Ojeda & Iju Paracas ("Consorcio ME Ojeda & Iju") | Peru | 100,00 | Construction of departments | dez-11 | - |
| Through Mota-Engil Peru | 100,00 | ||||
| Consórcio Fanning ("Consorcio Fanning") | Peru | 100,00 | Construction of departments | dez-11 | - |
| Through Mota-Engil Peru | 100,00 | ||||
| Consórcio Porta ("Consorcio Porta") | Peru | 100,00 | Construction of departments | dez-11 | - |
| Through Mota-Engil Peru | 100,00 | ||||
| Consórcio La Ponciana ("Consorcio La Ponciana") Through Mota-Engil Peru |
Peru | 100,00 100,00 |
Construction of departments | dez-11 | - |
Group and associate companies included in the consolidation using the equity method, their registered offices and proportion of share capital held as at September 30, 2014, are as follows:
| Designation | Effective holding percentage |
|
|---|---|---|
| Parent Company of the Group and related activities | ||
| Nortenha Angola, SGPS, S.A. ("Nortenha") | Portugal | 29,99 |
| SMGT Angola, SGPS, SA ("SMGT") | Portugal | 29,99 |
| Sangobiar Perú, S.A. ("Sangobiar") | Peru | 29,99 |
| Europe - Engineering and Construction | ||
| Turalgo-Sociedade de Promoção Imobiliária e Turística do Algarve, S.A. ("Turalgo") | Portugal | 51,00 |
| Bay 6.3 Kft. ("Bay 6.3") - Obol Invest Group | Hungary | 32,18 |
| Bay Office Kft. ("Bay Office") - Obol Invest Group | Hungary | 32,18 |
| Bay Park Kft. ("Bay Park") - Obol Invest Group | Hungary | 32,18 |
| Bay Tower Kft. ("Bay Tower") - Obol Invest Group | Hungary | 32,18 |
| Bay Wellness Kft. ("Bay Wellness") - Obol Invest Group | Hungary | 32,18 |
| Engber Kft. ("Engber") - Obol Invest Group | Hungary | 32,18 |
| M-Invest Slovakia Mierova , s.r.o. ("Mierova") | Slovakia | 50,00 |
| Nádor Öböl Kft. ("Nádor Obol") - Obol Invest Group | Hungary | 32,18 |
| Öböl Invest Kft. ("Obol Invest") - Obol Invest Group | Hungary | 32,50 |
| Öböl XI Kft. ("Obol XI") - Obol Invest Group | Hungary | 32,18 |
| Sampaio Kft. ("Sampaio") - Obol Invest Group | Hungary | 32,18 |
| Europe - Environment and Services | ||
| Aqualevel - Gestão de Sistemas de informação, Soc. Unipessoal, Lda. ("Aqualevel") - Indaqua Group | Portugal | 45,06 |
| Águas de S. João, E.M., S.A. ("Águas de S. João") - Indaqua Group | Portugal | 22,08 |
| Ambilital – Investimentos Ambientais no Alentejo, EIM. ("Ambilital") | Portugal | 30,14 |
| Chinalog - Serviços Logísticos e Consultadoria, Lda. ("Chinalog") | Portugal | 42,50 |
| Citrup – Centro Integrado de Resíduos, Lda. ("Citrup") | Portugal | 18,45 |
| Ecolezíria - Empresa Intermunicipal para Tratamento de Resíduos Sólidos, E. I. M. ("Ecolezíria") | Portugal | 15,07 |
| Haçor, Conc. Edifício do Hospital da Ilha Terceira, SA ("Haçor") | Portugal | 40,00 |
| HL - Sociedade Gestora do Edifício, S.A. ("HL - Sociedade Gestora do Edifício") | Portugal | 50,00 |
| HEPP - Hidroenergia de Penacova e Poiares, Lda. ("HEPP") | Portugal | 50,00 |
| Ibercargo Rail, S.A. ("Ibercargo") | Spain | 50,00 |
| Indaqua – Indústria e Gestão de Águas, S.A. ("Indaqua") - Indaqua Group | Portugal | 45,06 |
| Indaqua Fafe – Gestão de Águas de Fafe, S.A. ("Indaqua Fafe") - Indaqua Group | Portugal | 45,06 |
| Indaqua Feira - Indústria de Águas de Santa Maria da Feira, S.A. - ("Indaqua Feira") - Indaqua Group | 45,16 | |
| Indaqua Matosinhos - Gestão de Águas de Matosinhos, S.A. ("Indaqua Matosinhos") - Indaqua Group | 44,93 | |
| Indaqua Oliveira de Azeméis - Gestão de Águas de Oliveira de Azeméis, S.A. ("Indaqua Oliveira de Azeméis") - Indaqua Group | Portugal | 45,06 |
| Indaqua Santo Tirso/ Trofa – Gestão de Águas de Santo Tirso e Trofa, S.A. ("Indaqua Sto. Tirso/ Trofa") - Indaqua Group | Portugal | 45,06 |
| Indaqua Vila do Conde - Gestão de Águas de Vila do Conde, S.A. ("Indaqua V. Conde") - Indaqua Group | Portugal | 45,02 |
| Logz - Atlantic Hub, S.A. ("Logz") | Portugal | 30,00 |
| Manvia II Condutas, Lda. ("Manvia II Condutas") | Portugal | 45,00 |
| Operestiva - Empresa de Trabalho Portuário de Setúbal, Lda. ("Operestiva") - Grupo SLPP | Portugal | 18,94 |
| Sadoport - Terminal Marítimo do Sado, S.A. ("Sadoport") - SLPP Group | Portugal | 31,56 |
| SLPP - Serviços Logísticos de Portos Portugueses, S.A. ("SLPP") - SLPP Group | Portugal | 31,56 |
| Tersado - Terminais Portuários do Sado, S.A. ("Tersado") | Portugal | 15,78 |
| Africa | ||
| Automatriz, SA ("Automatriz") | Angola | 45,00 |
| Icer – Indústria de Cerâmica, Lda. ("Icer") | Angola | 25,50 |
| Latin America | ||
| Concessionária M&R de Occidente SAPI de CV ("Concessionária M&R") | Mexico | 20,00 |
| Eco Innovacion Ambiental SAPI de CV ("Eco Innovacion") | Mexico | 25,00 |
| Gestion e Innovacion en Servicios Ambientales SA de CV ("GISA") | Mexico | 50,00 |
| Autopista Urbana Siervo de la Nacion("Autopista Siervo de la Nacion") | Mexico | 33,40 |
| Terminais Portuários Euroandinos Paita, S.A. ("TPE Paita") | Peru | 50,00 |
| Ascendi Group | Portugal | 60,00 |
| Martifer Group | Portugal | 37,50 |
Management Report and Consolidated Financial Statements as of $nine$ months of
$20114$
N)
R
www.mota-engil.com
PORTUGAL Rua do Rego Lameiro, nº 38
4300-454 Porto Portugal Rua Mário Dionísio, nº 2
2799-557 Linda-a-Velha Portugal
POLAND Ul. Wadowicka 8 W
30-415 Kraków
SPAIN Campus Tribeca Carretera de Fuencarral a Alcobendas, nº 44, Edifício 4 – B, nº 21 Alcobendas - Madrid Spain
IRELAND Enterprise & Technology Centre, Creagh Road Galway, Ballinasloe
Ireland
CZECH REPUBLIC Na Pankráci 1683/127, Praha 4 140 00 Czech Republic
SLOVAKIA Kaštielska 4, 821 05 Bratislava Slovakia
HUNGARY Kopaszi Gát 5
H - 1117 Budapest Hungary
ANGOLA Rua Joaquim Cordeiro da Mata,
nº 61-63 Bairro da Maianga - Luanda Angola
MALAWI
Nasra House - City Centre
P.O. Box 31379 - Lilongwe 3 Malawi
MOZAMBIQUE Edifício Milenium Park, 14%/15% andar Avenida Vladimir Lenine, nº 179 2284 Maputo Mozambique
SOUTH AFRICA World Trade Centre, 11th Floor
Corner West Road South and Lower Road Sandton 2146 - Johannesburg South Africa
CAPE VERDE Rua S. Vicente, 63, 1º andar, Palmarejo 721 - Plateau - Praia Cape Verde
${\bf S\tilde{A}O}$ TOMÉ AND PRÍNCIPE
Av. Marginal 12 de Julho, nº 1011 167 São Tomé and Príncipe
ZAMBIA Incito Office Park Reed Buck Road, 45/5B Kabulonga - Lusaka
P.O. Box 320337 Woodlands - Lusaka Zambia
ZIMBABWE 7, Routledge Street, Milton Park,
Harare Zimbabwe
GHANA Movenpick Ambassador Hotel Suit 709 - 7th floor Independence Avenue Accra - Ghana
ARTISTER
PERU Av. Nicolás Ayllón, nº 2634
Ate, Lima 3 Peru
MEXICO Horacio 828 esq. Tennyson Col. Polanco Reforma C.P. 11550
Del. Miguel Hidalgo
Mexico, D.F.
BRAZIL Rua Gonçalves Dias, 2316
Bairro Lourdes - Belo Horizonte/MG
CEP.: 30140-092 Brazil
COLOMBIA Carrera 13A-87-81 38007 Bogotá Colombia
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