Interim / Quarterly Report • Aug 30, 2016
Interim / Quarterly Report
Open in ViewerOpens in native device viewer
Turnover reached 1,036 million euros, down 4%YoY (Year on Year), with Latin America accounting for 33% of the total
EBITDA was up 3% YoY to 149 million euros with a resilient margin of 14% in line with the first half of 2015
Net profit of 73 million euros positively impacted by the net capital gains arising from the sale of the Logistics and Ports and INDAQUA businesses
Announcement on 3 August 2016 of the agreement established with Ardian Infrastructure regarding the sale of some assets of ASCENDI
Backlog as of 30 June 2016 amounted to 4.6 billion euros, reflecting a backlog/turnover ratio of 2.1 years for the Engineering & Construction division, thus supporting the medium and long term growth outlook
Net debt at 30 June 2016 of 1,221 million euros, reflects a decrease of 2% when compared with March 2016
(*) Includes others and intra-group eliminations
| 1H16 | % T | ∆ | 1H15 | % T | |
|---|---|---|---|---|---|
| (non audited) | (non audited) | ||||
| Turnover | 1,035,641 | (3.6%) | 1,074,418 | ||
| EBITDA | 148,858 | 14.4% | 2.6% | 145,093 | 13.5% |
| EBIT | 43,190 | 4.2% | (43.6%) | 76,609 | 7.1% |
| Net financial income | -29,902 | (2.9%) | 30.1% | -42,796 | (4.0%) |
| Gains/(losses) on associated companies | 1,333 | 0.1% | (84.3%) | 8,500 | 0.8% |
| Gains/(losses) in the disposal of subsidiaries and associated companies |
76,642 | - | - | - | - |
| Income before taxes | 91,263 | 8.8% | 115.7% | 42,314 | 3.9% |
| Net income | 78,975 | 7.6% | 177.0% | 28,510 | 2.7% |
| Attributable to: | |||||
| Non-controlling interests | 6,415 | 0.6% | (59.7%) | 15,935 | 1.5% |
| ∆roup | 72,559 | 7.0% | 477.0% | 12,575 | 1.2% |
EBITDA corresponds to the algebraic sum of the following captions of the consolidated income statement: "Sales & services rendered"+ "Other revenues " + "Cost of goods sold, mat. cons., changes in production & subcontractors" + "Third-party supplies & services" + "Wages and salaries" + "Other operating income / (expenses)"
The accounts included in this interim Report have not been audited.
| Highlights | 2 |
|---|---|
| Interim Consolidated Management Report |
5 |
| Financial analysis | 6 |
| Business segments | 11 |
| Stock price and dividends | 15 |
| Interim Consolidated Financial Information | 17 |
| Consolidated Income Statements | 19 |
| Consolidated Income and Other Comprehensive Income Statements | 20 |
| Statements of Consolidated Financial Position | 21 |
| Consolidated Statements of Changes in Equity | 22 |
| Statements of Consolidated Cash Flows | 24 |
| Notes to the Consolidated Financial Statements | 25 |
Management Report and Consolidated Financial Statements as of 1st half of 2016
Turnover in the first half of 2016 reached 1,036 million euros, a slightly decrease of 4% when compared with the same period of 2015. Thus, the increase of 19% in Latin America and of 11% in Europe in the segment Environment and Services (E&S) were not sufficient to offset the decrease of activity in Africa and in Europe in the segment Engineering & Construction (E&C).
In the first half of 2016 Europe continued to be the region with the highest contribution to the turnover of the Group (35%), leading to a decrease of 3pp when compared with the same period of 2015, driven by the decrease of 6pp in the activity of the E&C segment and by the increase of 3pp in the activity of the E&S segment. On the other hand, due to the expansion of activity in Latin America, and the slowdown of activity in Africa, the former now contributes with 33% to the GROUP's total turnover (27% as of 30 June 2015), while the latter contributed with 32% (35% as of 30 June 2015).
(*) Includes others and intra-group eliminations
During the first half of 2016, despite a challenging economic context, the GROUP's EBITDA was up 3% when compared with the same period of 2015 to 149 million euros, positively impacted by the increase of the EBITDA in Africa and in Europe in the E&S segment, driven by EGF's consolidation.
On the other hand, in that period, the EBIT(*) was down 47% when compared with the same period of 2015 to 43 million euros, mainly due to higher depreciation charges, following the acquisition of EGF, whose contribution in the period amounted to 29 million euros.
Following the strong investment performed in 2014 and 2015, needed to ensure the execution of several projects, namely in Latin America and in Africa and an optimization resources policy, the investment in the period was contained reached 37 million euros, which represented a decrease of 16 million euros when compared with the same period of 2015. It is worth to highlight that the segment of E&S, namely EGF and Suma (the latter through the company responsible from its recent operations in Oman) were responsible for about 28% of the total investment in the first half.
(*) EBIT corresponds to EBITDA deducted from the following captions of the consolidated income statement: "Amortizations" and "Provisions and impairment losses"
At 30 June 2016, net debt(*) amounted to 1,221 million euros, down 234 million euros when compared to 31 December 2015, mainly driven by the proceeds arising from the sale of the Ports and Logistics and INDAQUA businesses.
On the other hand, it should be highlighted that from the total net debt approximately 107 million euros, representing 9% of the total, corresponds to non-recourse debt of EGF.
As a result, the total net debt to EBITDA ratio for the last 12 months (excluding the contribution of Ports and Logistics business), reached 3.4x (3.6x at 31 December 2015). Nevertheless, the GROUP is committed to achieve a ratio below 3x in the medium and long-term with the contribution of: (i) the proceeds resulting from the sale of some assets, namely from ASCENDI GROUP in the short-term; (ii) the strengthening and optimization of working capital management measures; and (iii) the maintenance of a strict investment policy.
The gross debt(**) at 30 June 2016 amounted to 1,615 million euros, of which 71% contracted at floating rates. The average debt cost decreased from 5.8% in 31 December 2015 to 5.6% in 30 June 2016, notwithstanding the higher weight of debt contracted outside Europe, particularly in Africa and in Latin America. At 30 June 2016, 77% of the total gross debt was denominated in euros and the average debt life was of 2.5 years (2.5 years in 31 December 2015).
At 30 June 2016, the GROUP had available credit lines in the amount of 178 million euros, resulting in a total effective liquidity of 573 million euros.
In the first half of 2016, net financial expenses reached 29.9 million euros (42.8 million euros in the first half of 2015), which represents a decrease of around 30% mainly driven by the reduction of net debt, the favourable effect of Forex and the result of the measures adopted to improve the pricing conditions obtained with new financing.
(*) net debt corresponds to the algebraic sum of the following captions of the consolidated statement of financial position: "Cash and cash equivalents with recourse - term deposits"; "Cash and cash equivalents without recourse - demand deposits"; "Cash and cash equivalents with recourse - demand deposits"; "Loans without recourse"; "Loans with recourse" and the Angola´s bonds held by the Africa region recorded in the caption "Financial investments available for sale and held to maturity". It is worth to highlight that the leasing and factoring operations established by the Group are not recorded in the captions aforementioned.
(**)gross debt corresponds to net debt added by the cash and cash equivalents balances recorded in the consolidated statement of financial position and the Angola´s bonds held by the Africa region recorded in the caption "Financial investments available for sale and held to maturity".
Management Report and Consolidated Financial Statements as of 1st half of 2016
The captions "equity method and gains in disposals" had a positive contribution to the net income of the first half of 78 million euros (8.5 million euros in the first half of 2015), driven by the capital gain of 77 million euros from the sale of the Ports and Logistics and INDAQUA businesses. On the other hand, ASCENDI, which in the first half of 2015 contributed with 9.5 million euros to the caption "equity method", was classified as "Non-current assets held for sale" since 30 September 2015, thus not contributing to the GROUP'S resultsin the first half of 2016.
From 30 September 2015, the Water segment became classified as a "Non-current assets held for sale" instead of the previously used equity method, and as such it had no contribution to the results in the first half of 2016. The sale process of this segment generated a capital gain of around 11 million euros.
As a result of the operational and financial performance, the net margin reached 7%, and the net profit attributable to the GROUP amounted to 73 million euros (12.6 million euros in the first half of 2015).
At 30 June 2016, the backlog amounted to approximately 4.6 billion euros, of which around 3.7 billion euros outside Europe, which accounted to 81% of the total. On the other hand, notwithstanding the economic challenging environment, particularly in Africa, the backlog in this region increased approximately 565 million euros, when compared to 31 December 2015, mainly in the E&S segment, following the intense commercial activity and showing the GROUP's ability to win new projects.
Thus, at 30 June 2016, the backlog / turnover ratio of the Engineering & Construction division amounted to 2.1 years (2.0 years in 31 December 2015).
As reported in the past, the GROUP does not consider in its backlog any predictable revenues arising from the contracts of waste treatment of EGF.
Additionally, it is important to highlight that already in the third quarter of 2016 the GROUP won several contracts totalling more than 400 million euros, of which it is worth to refer the following:
Europe segment includes businesses and companies operating in the E&C and E&S owned by the GROUP, in Portugal and in Central Europe, or that are managed by this region's management structure. From 1 March 2016, after the sale of the Ports and Logistics business, the E&S segment is mostly dedicated to the waste collection activities (whose vehicle is SUMA), as well as, to the waste treatment and recovery (whose vehicle is EGF).
Turnover in Europe in the first half of 2016 reached 410 million euros, down 10% when compared with the same period of 2015, negatively influenced by the E&C business which suffered from the activity contraction of this sector in Portugal which was not totally offset by the positive performance of the E& S business. It should be highlighted that from 1 March 2016 the GROUP no longer consolidates the companies of the Ports and Logistics business, which were sold.
Regarding operating profitability, despite the turnover decrease, the EBITDA reached 43 million euros, almost in line with the same period of 2015 (44 million euros). This evolution was once again positively influenced by the E&S business, and more specifically by the contribution of EGF.
Maint.
1H15 1H16
Management Report and Consolidated Financial Statements as of 1st half of 2016
In the first half of 2016, it is worth to highlight the increase of the turnover in the E&S - Waste segment, as a result of the EGF consolidation, which partially offset the decrease of the E&C segment and of the E&S – Logistics segment, which only contributed to the GROUp's turnover for two months.
It is also important to mention the increase of 40 million euros in the EBITDA of the E&S - Waste segment, influenced by the acquisition and consolidation of EGF, from 1 July 2015, as well as, the reduction of 10 million euros in the EBITDA of the E&S - Logistics segment, as it only contributed for two months for the GROUP's activity in 2016.
The E&C segment turnover in the first half of 2016 decreased 20% to 242 million euros, due to the negative environment of the construction sector in Portugal, as well as due to the weaker execution pace of some projects in Central Europe. Thus, these constraints, as well as the negative impact of a road project in execution in the Czech Republic, led to a negative 6.5 million euros EBITDA.
The Energy & Maintenance companies have now almost the exclusive contribution of MANVIA, which during the first half of 2016 evidenced an increase in its turnover of 28%, when compared with the same period of 2015, which has been followed by an increase in its operational profitability (increase of 25%).
Finally, it should be highlighted the sale of the Ports and Logistics business for 245 million euros in February 2016, which generated a capital gain (which might be subject to changes) of around 65 million euros.
Management Report and Consolidated Financial Statements as of 1st half of 2016
In the first half of 2016, Africa was impacted by a deterioration in the macroeconomic environment , namely in Angola. Thus, turnover in the first half of 2016 decreased 44 million euros to 335 million euros. This evolution was also a consequence of a cautious project execution policy, namely in Angola, being the priority of the GROUP the collection of its receivables. Nevertheless, it should be highlighted the positive turnover evolution in Mozambique of 8% and the increase in the turnover of the GROUP's non-traditional markets in Africa (markets other than Angola, Mozambique and Malawi), which, compared to the same period of 2015, increased by 22%.
The EBITDA in the first half of 2016 reached 78 million euros, an improvement of 7 million euros when compared to the same period of 2015 (71 million euros) and with the EBITDA margin up from 19% to 23%, reflecting a resilient profitability in Angola and Mozambique.
Management Report and Consolidated Financial Statements as of 1st half of 2016
In Latin America, turnover in the first half of 2016 amounted to 344 million euros, which represented an increase of 19% when compared with the same period of 2015. This performance was supported by the main markets in the region, namely Peru and Brazil. Notwithstanding, that increase was affected by the weaker execution pace of some projects, namely the Guadalajara light train tunnel works and a road concession project, both in Mexico, as well as the depreciation of the local currencies. In addition, it is worth to highlight that Mexico accounted for 42% of the total turnover in the first half of 2016.
The electricity generation business is running as expected, reflecting the positive and promising evolution of the recent liberalised electricity market in Mexico. Thus, that business contributed with 18 million euros to the total turnover of the first half of 2016.
In the first half of 2016, EBITDA increased 5%, when compared with the same period of 2015, to 27 million euros, once again influenced by the contribution of the main markets in the region. Nevertheless, the profitability was negatively affected by the fact that several projects under execution are still in an early stage.
In addition, it should be highlighted the resilience of the backlog in the region during the period, which amounted to around 2 billion euros, and that will allow turnover growth acceleration in future periods, namely in Mexico.
Management Report and Consolidated Financial Statements as of 1st half of 2016
In the first half of 2016, the Portuguese stock market index, PSI-20, went down by around 16%, being influenced by the further deterioration of the negative performance recorded in the first quarter. Furthermore, in the second quarter of 2016, that index was negatively affected by the referendum of June 23 in the United Kingdom which outcome led to the exit decision of that country from the European Union. Also, the European Construction sector index, SXOP, showed a decline, although softer, of 5% and 6% in the second quarter of 2016 and in the first half of 2016, respectively.
MOTA-ENGIL shares dropped23% in the first half of the year, being influenced by the negative performance of the second quarter, having closed the period with a share price of 1.488 euros. In the first half of 2016 MOTA-ENGIL shares reached a maximum and a minimum of 1.991 euros and 1.174 euros, respectively. In the first half, about 63 million MOTA-ENGIL shares were traded on the Euronext Lisbon, corresponding to an average daily volume of 493,000 shares.
At the General Shareholders' Meeting held at 25 May 2016 the distribution of a dividend per share of five euro cents (0.05 euros) regarding the 2015 financial year was approved. This figure is in line with MOTA-ENGIL'S current dividend policy that defines a payout ratio of 50% to 75% of recurrent net income.
Porto, August 29, 2016
Gonçalo Moura Martins Chief Executive Officer
José Pedro Freitas Chief Financial Officer
| st Half 1 |
nd Quarter 2 |
|||||
|---|---|---|---|---|---|---|
| Notes | 2016 € '000 |
2015 € '000 |
2016 € '000 |
2015 € '000 |
||
| (non audited) | (non audited) | (non audited) | (non audited) | |||
| Sales & services rendered | 2 | 1,035,641 | 1,074,418 | 525,857 | 590,955 | |
| Other revenues | ‐ | 8,785 | ‐ | (6) | ||
| Cost of goods sold, mat. cons., changes in production & subcontractors | (450,602) | (498,509) | (238,001) | (298,450) | ||
| Third‐party supplies & services | (194,715) | (223,711) | (80,168) | (109,627) | ||
| Wages and salaries | (269,602) | (231,911) | (136,621) | (118,847) | ||
| Other operating income / (expenses) | 28,136 | 16,021 | 9,398 | 15,609 | ||
| Amortizations | (95,718) | (66,601) | (48,486) | (34,883) | ||
| Provisions and impairment losses | (9,950) | (1,883) | (9,717) | (1,599) | ||
| Financial income & gains | 3 | 28,340 | 18,810 | 10,852 | 4,567 | |
| Financial costs & losses | 3 | (58,242) | (61,606) | (26,442) | (29,218) | |
| Gains / (losses) in associates and jointly controlled companies | 1,333 | 8,500 | 857 | 4,610 | ||
| Gains / (losses) on disposal of associates and jointly controlled companies |
10 | 76,642 | ‐ | 13,258 | ‐ | |
| Profit before taxes | 91,263 | 42,314 | 20,785 | 23,112 | ||
| Income Tax | (12,288) | (13,803) | (9,209) | (2,863) | ||
| Consolidated net profit of the period | 78,975 | 28,510 | 11,576 | 20,249 | ||
| Attributable: | ||||||
| to non‐controlling interests | 6,416 | 15,935 | 3,032 | 11,074 | ||
| to the Group | 4 | 72,559 | 12,575 | 8,544 | 9,175 | |
| Earnings per share: | ||||||
| basic | 4 | 0.310 € | 0.061 € | 0.037 € | 0.045 € | |
| diluted | 4 | 0.310 € | 0.061 € | 0.037 € | 0.045 € | |
To be rea d wi th the Notes to the Cons olida ted Fina ncial Sta tements
| st Half 1 |
nd Quarter 2 |
|||
|---|---|---|---|---|
| 2016 | 2015 | 2016 | 2015 | |
| € '000 | € '000 | € '000 | € '000 | |
| (non audited) | (non audited) | (non audited) | (non audited) | |
| Consolidated net profit for the period | 78,975 | 28,510 | 11,576 | 20,249 |
| Items of other comprehensive income that may be reclassified to the income statement | ||||
| Companies controlled | ||||
| Exchange differences arising from the conversion of financial statements expressed in foreign currencies | (83,360) | 19,634 | (59,927) | (30,020) |
| Variation, net of tax, of the fair value of derivative financial instruments | 9 | 52 | 14 | 18 |
| Recycling of other comprehensive income to the income statement | (6,058) ‐ |
‐ | ‐ | |
| Other comprehensive income | 1,470 | (5,897) | 3,218 | (5,900) |
| Companies consolidated by the equity method | ||||
| Exchange differences arising from the conversion of financial statements expressed in foreign currencies | (686) 2,640 |
(402) | (4,791) | |
| Variation, net of tax, of the fair value of derivative financial instruments | (2,162) | 24,608 | (130) | 26,819 |
| Recycling of other comprehensive income to the income statement | 10,649 | ‐ | ‐ | ‐ |
| Other comprehensive income of investments consolidated by the equity method | (18) (2,697) |
(112) | (2,328) | |
| Total of comprehensive income for the period | (1,182) | 66,849 | (35,114) | 4,048 |
| Attributable: | ||||
| to non‐controlling interests | (11,420) | 18,068 | (9,917) | (2,134) |
| to the Group | 10,239 | 48,781 | (25,197) | 6,182 |
| To be read with the Notes to the Consolidated Financial Statements |
| 2016 | 2015 | ||
|---|---|---|---|
| Notes | € '000 | € '000 | |
| (non audited) | (audited) | ||
| Assets | |||
| Non‐current | |||
| Goodwill | 5 | 81,952 | 80,512 |
| Intangible assets | 601,880 | 627,398 | |
| Tangible fixed assets | 704,922 | 782,116 | |
| Financial investments in associates and jointly controlled companies | 6 | 43,268 | 34,338 |
| Financial investments available for sale and held to maturity | 7 | 1 21,738 |
93,260 |
| Investment properties | 82,818 | 82,037 | |
| Trade and other receivables | 81,772 | 85,466 | |
| Other non‐current assets | 923 | 1,812 | |
| Derivative financial instruments | ‐ | 166 | |
| Deferred tax assets | 139,333 | 137,672 | |
| 1,858,605 | 1,924,776 | ||
| Current | |||
| Inventories | 263,854 | 284,439 | |
| Trade receivables | 869,685 | 939,389 | |
| Other receivables | 236,849 | 284,975 | |
| Corporate income tax | 19,098 | 16,033 | |
| Other current assets | 621,935 | 525,898 | |
| Derivative financial instruments | ‐ | 9,183 | |
| Cash and cash equivalents with recourse – Term Deposits | 8 | ‐ | 62,391 |
| Cash and cash equivalents without recourse – Demand Deposits | 8 | 10 9,004 |
102,946 |
| Cash and cash equivalents with recourse – Demand Deposits | 8 | 236,0 72 |
278,559 |
| 2,356,495 | 2,503,814 | ||
| Non‐current assets held for sale | 316,452 | 687,237 | |
| Total Assets | 2 | 4,531,552 | 5,115,827 |
| Liabilities | |||
| Non‐current | |||
| Loans without recourse | 9 | 184,865 | 203,128 |
| Loans with recourse | 9 | 765,358 | 698,582 |
| Sundry creditors | 184,633 | 135,734 | |
| Derivative financial instruments | 176 | 188 | |
| Provisions | 111,843 | 123,201 | |
| Other non‐current liabilities | 385,528 | 406,963 | |
| Deferred tax liabilities | 106,765 | 99,238 | |
| 1,739,167 | 1,667,034 | ||
| Current | |||
| Loans without recourse | 9 | 31,357 | 40,534 |
| Loans with recourse | 9 | 633,556 | 984,914 |
| Trade payables | 407,175 | 436,839 | |
| Sundry creditors | 651,076 | 627,168 | |
| Corporate income tax | 2,428 | 12,514 | |
| Other current liabilities | 492,192 | 546,360 | |
| 2,217,785 | 2,648,329 | ||
| Non‐current liabilities held for sale | ‐ | 107,396 | |
| Total Liabilities | 2 | 3,956,952 | 4,422,760 |
| Shareholders' equity | |||
| Share capital | 237,505 | 237,505 | |
| Own shares | 4 | (5,788) | (3,084) |
| Reserves, retained earnings and share premiuns | 61,768 | 116,735 | |
| Consolidated net profit for the period Own funds attributable to the Group |
72,559 366,044 |
19,046 370,202 |
|
| Non‐controlling interests Non‐controlling interests associated with non‐current assets / liabilities held for sale |
208,556 ‐ |
233,970 88,895 |
|
| Total shareholders' equity | 574,599 | 693,067 | |
| Total shareholders' equity & liabilities | 4,531,552 | 5,115,827 |
To be read with the Notes to the Consolidated Financial Statements
| Fair value reserves | ||||||
|---|---|---|---|---|---|---|
| Share capital | Own shares | Share premiums | Available‐for‐sale investments |
Lands assigned to quarrying operations |
Derivatives | |
| Balance as at January 1, 2015 (audited) | 204,636 | ‐ | 44,435 | 27,702 | 2,968 | (238) |
| Total comprehensive income for the period | ‐ | ‐ | ‐ | ‐ | ‐ | 52 |
| Dividend distribution | ‐ | ‐ | ‐ | ‐ | ‐ | ‐ |
| Transfers to other reserves | ‐ | ‐ | ‐ | ‐ | ‐ | ‐ |
| Balance as at June 30, 2015 (non audited) | 204,636 | ‐ | 44,435 | 27,702 | 2,968 | (187) |
| Balance as at January 1, 2016 (audited) | 237,505 | (3,084) | 92,584 | 27,702 | 4,409 | (139) |
| Total comprehensive income for the period | ‐ | ‐ | ‐ | ‐ | ‐ | 9 |
| Dividend distribution | ‐ | ‐ | ‐ | ‐ | ‐ | ‐ |
| Acquisition of own shares | ‐ | (2,703) | ‐ | ‐ | ‐ | ‐ |
| Transfers to other reserves | ‐ | ‐ | ‐ | ‐ | ‐ | ‐ |
| Changes in the consolidation perimeter in controlled entities: | ||||||
| Disposal of Ports and Logistics businesses | ‐ | ‐ | ‐ | ‐ | ‐ | ‐ |
| Others | ‐ | ‐ | ‐ | ‐ | ‐ | ‐ |
| Balance as at June 30, 2016 (non audited) | 237,505 | (5,788) | 92,584 | 27,702 | 4,409 | (130) |
To be read wi th the Notes to the Consolidated Financial Statements
| Currency translation reserve |
Other reserves | Net Profit | Own funds attributable to the Group |
Own funds attributable to non‐ controlling interests |
Shareholders' equity |
|---|---|---|---|---|---|
| (32,131) | 15,929 | 50,550 | 313,851 | 264,137 | 577,988 |
| 14,112 | 22,042 | 12,575 | 48,781 | 18,068 | 66,849 |
| ‐ | (24,556) | ‐ | (24,556) | (4,505) | (29,061) |
| ‐ | 50,550 | (50,550) | ‐ | ‐ | ‐ |
| (18,019) | 63,966 | 12,575 | 338,076 | 277,700 | 615,776 |
| (17,364) 9,543 |
19,046 | 370,202 | 322,865 | 693,067 | |
| (65,245) 2,915 |
72,559 | 10,239 | (11,420) | (1,182) | |
| ‐ | (11,693) | ‐ | (11,693) | (5,582) | (17,275) |
| ‐ | ‐ | ‐ | (2,703) | ‐ | (2,703) |
| ‐ | 19,046 | (19,046) | ‐ | ‐ | ‐ |
| ‐ | ‐ | ‐ | ‐ | (98,601) | (98,601) |
| ‐ | ‐ | ‐ | ‐ | 1,294 | 1,294 |
| (82,609) | 19,811 | 72,559 | 366,044 | 208,556 | 574,600 |
| Notes | 2016 | 2015 | |
|---|---|---|---|
| € '000 | € '000 | ||
| OPERATING ACTIVITY | (non audited) | (non audited) | |
| Cash received from customers | 970,202 | 946,206 | |
| Cash paid to suppliers | (717,726) | (768,365) | |
| Cash paid to employees | (187,400) | (152,276) | |
| Cash generated from operating activities | 65,076 | 25,565 | |
| Income tax (paid)/received | (10,991) | (6,547) | |
| Other receipts/(payments) generated by operating activities | 815 | 4,074 | |
| Net cash from operating activities (1) | 54,900 | 23,092 | |
| INVESTING ACTIVITY | |||
| Cash receipts from: | |||
| Financial investments | 306,284 | 625 | |
| Intangible assets | ‐ | 309 | |
| Tangible assets | 2,130 | 17,386 | |
| Investment grants | 1,307 | 93 | |
| Interest and similar income | 12,331 | 3,386 | |
| Dividends | 135 | 1,362 | |
| 322,187 | 23,162 | ||
| Cash paid in respect of: | |||
| Financial investments | (11,309) | (6,669) | |
| Intangible assets | (6,026) | (2,228) | |
| Tangible assets | (33,348) | (68,772) | |
| (50,683) | (77,669) | ||
| Net cash from investing activities (2) | 271,505 | (54,508) | |
| FINANCING ACTIVITY | |||
| Cash receipts from: | |||
| Loans obtained | 76,328 | 123,444 | |
| 76,328 | 123,444 | ||
| Cash paid in respect of: | |||
| Loans obtained | (388,350) | (32,264) | |
| Reimbursement of finance lease contracts | (22,282) | (25,465) | |
| Interest and similar expense | (57,865) | (59,662) | |
| Dividends | (16,782) | (30,602) | |
| Acquisition of own shares | (2,703) | ‐ | |
| (487,983) | (147,993) | ||
| Net cash from financing activities (3) | (411,655) | (24,549) | |
| Variation of cash & cash equivalents (4)=(1)+(2)+(3) | (85,251) | (55,964) | |
| Variations due to changes in the consolidation perimeter | (15) | 60 | |
| Exchange rate effect | (13,555) | 7,774 | |
| Cash & cash equivalents at the beginning of the period | 8 | 443,896 | 390,606 |
| Cash & cash equivalents at the end of the period | 8 | 345,076 | 342,475 |
To be read with the Notes to the Consolidated Financial Statements
The core business of MOTA‐ENGIL, SGPS, SA, with head office at Edifício Mota, Rua do Rego Lameiro, 38, 4300‐454 Porto (MOTA‐ENGIL SGPS or COMPANY), and its subsidiaries (GROUP or MOTA‐ENGIL GROUP) are public and private construction works and related activities, as well as, waste collection and treatment. The GROUP's business is mostly developed in three regions: Europe, Africa and Latin America.
The detailed description of the GROUP'S activities is provided in Note 2. Business Segments of this notes.
All the amounts disclosed in these notes are presented in thousand Euros, rounded off to the unit, unless explicitly stated otherwise.
The consolidated financial statements of the MOTA‐ENGIL GROUP were prepared on a going concern basis from the books and accounting records of the companies comprising the GROUP adjusted in the consolidation process. These consolidated financial statements were prepared in accordance with the International Financial Reporting Standards (IAS/IFRS) issued by the International Accounting Standards Board (IASB), as well as, the interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) or by the former Standards Interpretation Committee (SIC), as adopted by the European Union as at 30 June 2016. Regarding GROUP companies which use different accounting standards, the respective financial statements were subject to conversion adjustments to IAS/IFRS.
Except for the change in the functional currency of some entities/companies located in Africa, the consolidated financial statements of MOTA‐ENGIL GROUP regarding the six months period ended at June 30, 2016 were prepared taking in consideration the accounting policies and the calculation methods adopted by the GROUP and presented in the 2015 Consolidated Report and Accounts, in accordance with the provisions of IAS 34 ‐ Interim Financial Reporting.
| Applicable in the European | ||
|---|---|---|
| Standard / Interpretation | Union in the years beginning | Content |
| on or after | ||
| Amendment to IAS 19 ‐ Employee Benefits ‐ Contributions from employees |
Feb‐15 | This amendment clarifies the circumstances under which employee contributions for post‐employment benefit plans are an actual reduction in the cost of short‐term benefits. |
| Improvements to the international financial reporting standards (cycle 2010‐2012) |
Feb‐15 | These improvements involve the clari fication of some aspects related to: IFRS 2 ‐ Share‐based Payments: definition of vesting condition; IFRS 3 – Business Combinations: accounting of contingent payments; IFRS 8 ‐ Operating Segments: disclosures related to the judgements applied in connection to the aggregation of segments, and clarification on the need for reconciliation of total assets by segment, with the total amount of assets in the financial statements; IAS 16 ‐ Tangible Fixed Assets and IAS 38 ‐ Intangible Assets: need for proportional revaluation of accumulated depreciations in the case of revaluation of fixed assets; IAS 24 ‐ Related Party Disclosures: defines that an entity that provides management services to the Company or to its parent Company is considered a related party; and IFRS 13 ‐ Fair Value: clarifications concerning the measurement of short‐term accounts receivable or payable. |
| Improvements to the international financial reporting standards (cycle 2012‐2014) |
Jan‐16 | These improvements involve the clari fication of some aspects related to: IFRS 5 – Non‐current assets held for sale and discontinued operations: introduces guidelines on how to proceed in case of changes to the expected method of realization (sale or distribution to shareholders); IFRS 7 – Financial Instruments: disclosures: clari fies the impacts of asset monitoring contracts within the scope of disclosures associated with continuing involvement of derecognised assets, and exempts the interim financial statements from the disclosures required in respect of compensation of financial assets and liabilities; IAS 19 – Employee Benefits: sets that the rate to be used for defined benefit discounting purposes shall be determined by reference to high quality corporate bonds that have been issued in the same currency in which the benefi ts will be paid; and IAS 34 ‐ Interim Financial Reporting: clari fication on the procedures to adopt when there is information available in other documents issued in connection with the interim financial statements. |
| Amendment to IFRS 11 – Joint Arrangements – Accounting of acquisitions of interests in joint arrangements |
Jan‐16 | This amendment is related to the acquisition of interests in joint operations. It sets the mandatory implementation of IFRS 3 when the acquired joint operation is a business activity in accordance with IFRS 3. When the joint operation in question is not a business activity, the transaction shall be recorded as an asset acquisition. This change has a prospective application for new acquisitions of interests. |
Management Report and Consolidated Financial Statements as of 1st half of 2016
| Applicable in the European | ||
|---|---|---|
| Standard / Interpretation | Union in the years beginning | Content |
| on or after | ||
| Amendment to standard IAS 1 – Submission of Financial Statements – Disclosure Initiative |
Jan‐16 | This amendment clarifies some aspects related to the Disclosure Initiative , namely: (i) the entity shall not hamper the intelligibility of the financial statements by aggregating material items with immaterial items, or by aggregating material items wi th di fferent natures; (ii ) the disclosures speci fically required by IFRS need only to be provided if the information in question is material; (iii ) the headings of the financial statements speci fied in IAS 1 can be aggregated or disaggregated, according to what is most relevant for the purposes of financial reporting; (iv) the part of other comprehensive income resulting from the application of the equi ty method in associates and joint controlled entities should be presented separately from the other components of other comprehensive income, also segregating the items that are likely to be reclassi fied to profit and loss from those that will not be reclassi fied; (v) the structure of the notes should be flexible, and should respect the following order: ∙ a statement of compliance with IFRS in the first section of the notes; ∙ a description of the significant accounting policies in the second section; ∙ supporting information for the headings in the face of the financial statements in the third section; and other information in the fourth section. |
| Amendment to IAS 16 ‐ Tangible Fixed Assets and IAS 38 ‐ Intangible Assets ‐ Acceptable Depreciation Methods |
Jan‐16 | This amendment establishes the presumption (which may be rebutted) that revenue is not an appropriate basis for amortizing an intangible asset, and prohibits the use of revenue as a depreciation base for tangible fixed assets. The presumption established for the amortization of intangible assets can only be rebuted when the intangible asset is expressed in terms of revenue generated or when the use of economic benefits is highly correlated with the revenue generated. |
| Amendment to IAS 16 ‐ Tangible Fixed Assets and IAS 41 ‐ Agriculture ‐ Production Plants |
Jan‐16 | This amendment excludes plants that produce fruit or other components to be harvested and/or removed from the scope of IAS 41, which shall now be covered by IAS 16. |
| Amendment to IAS 27 ‐ Application of the equity method to the separate financial statements |
Jan‐16 | This amendment introduces the possibility of measurement of interests in subsidiaries, joint arrangements and associates in separate financial statements by the equi ty method, in addition to the currently existing measurement methods. This amendment applies retrospectively. |
The application of the above referred Standards, Amendments and Interpretations did not produce significant effects in these consolidated financial statements.
These consolidated financial statements are prepared in Euros since it is the main currency of the GROUP's operations. The financial statements of the subsidiaries expressed in foreign currency were converted into Euros in accordance with the accounting policies described in subparagraph xiv) of the main valuation criteria presented in the 2015 Consolidated Report and Accounts.
All estimates and assumptions made by the Board of Directors were based on their knowledge of the events and transactions in course, as at the date of approval of these financial statements.
In preparing the consolidated financial statements, in accordance 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 periods disclosed, which are described in subparagraph xxii) of the main valuation criteria presented in the 2015 Consolidated Report and Accounts.
The GROUP uses its internal organization for management purposes as a basis for its reporting of information by operational segments. The GROUP is organized into the following geographical areas: Europe, Africa and Latin America.
Amounts concerning MOTA‐ENGIL SGPS and GROUP companies in the Tourism area are included in "Others, eliminations & intra‐group", which also included the amounts related to transactions and balances between operational segments.
In the first half of 2016, except for the sales of the companies of the Ports and Logistics Business and the financial investment held in INDAQUA SUBGROUP (recorded by the equity method), there were no other material changes in the consolidation perimeter, so, except for the above referred transactions, the effects in the main captions of the statements of financial position and income are not disclosed. The changes in the consolidation perimeter occurred during the six months period ended at June 30, 2016 are described in Note 10. Changes in the perimeter.
During the six months period ended at June 30, 2016, the contribution to the income statement of the companies of the Ports and Logistics Businesses (corresponding to the months of January and February), was as follows:
| Ports and Logistics Businesses |
|
|---|---|
| Sales & services rendered | 26,194 |
| Cost of goods sold, mat. cons., changes in production & subcontractors | (14,233) |
| Subtotal (Gross profit) | 11,960 |
| Third‐party supplies & services | (7,216) |
| Wages and salaries | (3,278) |
| Other operating income / (expenses) | 988 |
| Subtotal (EBITDA) | 2,454 |
| Provisons and impairment losses | 14 |
| Subtotal (EBIT) | 2,468 |
| Financial result | (479) |
| Gains / (losses) on associated companies | 101 |
| Subtotal (Income before taxes) | 2,090 |
On the other hand, as a result of the classification in 2015 of the financial investment held in INDAQUA SUBGROUP as a non‐ current asset held for sale, the application of the equity method was suspended, which resulted that in the first half of 2016 the Group did not appropriate any result generated by that financial investments.
The companies included in the consolidation perimeter and the respective consolidation methods, head offices, effective participation percentages, activity, incorporation date and date of acquisition of the financial investments are those presented in Appendix A.
| Sales and services rendered | EBITDA | |||
|---|---|---|---|---|
| 2016 | 2015 | 2016 | 2015 | |
| Europe | 410,270 | 453,503 | 43,306 | 44,247 |
| Africa | 334,666 | 378,865 | 77,841 | 71,222 |
| Latin America | 343,501 | 289,211 | 27,070 | 25,712 |
| Others, eliminations & intra‐group | (52,795) | (47,161) | 641 | 3,913 |
| Mota‐Engil Group | 1,035,641 | 1,074,418 | 148,858 | 145,093 |
EBITDA corresponds to the algebraic sum of the following headings of the consolidated income statement: "Sales & services rendered" + "Other revenues" + "Cost of goods sold, mat. cons., changes in production & subcontracts" + "Third‐party suppliers & services" + "Wages and salaries" + "Other operating income / (expenses)".
In the first half of 2016 and 2015, the sales and services rendered between the business segments were included in "Others, eliminations & intra‐group".
In the first half of 2016 and 2015, intra‐group sales and services rendered were made at similar prices to those practiced for external customers.
As at June 30, 2016 and December 31, 2015, total net assets and liabilities of the GROUP by business segments are as follows:
| Net Assets | Liabilities | |||
|---|---|---|---|---|
| 2016 | 2015 | 2016 | 2015 | |
| Europe | 2,273,311 | 2,577,828 | 1,859,511 | 1,998,988 |
| Africa | 1,528,716 | 1,780,559 | 1,144,496 | 1,333,906 |
| Latin America | 814,361 | 805,592 | 703,969 | 663,562 |
| Others, eliminations & intra‐group | (84,837) | (48,152) | 248,976 | 426,304 |
| Mota‐Engil Group | 4,531,552 | 5,115,827 | 3,956,952 | 4,422,760 |
In the first half of 2016 there were no changes in the GROUP operating segments or in the form of calculation and accounting the amounts regarding those segments.
Financial results for the six months period ended at June 30, 2016 and 2015 were as follows:
| 2016 | 2015 | |
|---|---|---|
| Financial income & gains | ||
| Loans and accounts receivable: | ||
| Interest income | 6,582 | 10,477 |
| Payments discounts received | 226 | 409 |
| Exchange gains | 20,438 | ‐ |
| Other financial assets | ||
| Income from real estate properties | 491 | 515 |
| Fair value of derivative financial instruments | ‐ | 5,201 |
| Other financial income & gains | 603 | 2,209 |
| 28,340 | 18,810 | |
| Financial costs & losses | ||
| Loans and accounts payable: | ||
| Interest expenses | 49,978 | 52,191 |
| Payments discounts granted | 172 | 167 |
| Exchange losses | ‐ | 466 |
| Other financial liabilities: | ||
| Fair value of derivative financial instruments | 2,432 | ‐ |
| Other financial costs & losses | 5,660 | 8,781 |
| 58,242 | 61,606 | |
| (29,902) (42,796) |
In the six months period ended at June 30, 2016 and 2015, the heading "Other financial costs & losses" included mainly costs with the set‐up of loans, as well as, several commissions and others costs charged by financial institutions.
The COMPANY issued only common shares and therefore there are no special dividends or voting rights.
There are no situations 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 common shares.
Therefore, there is no dissimilarity between the calculation of basic earnings per share and the calculation of diluted earnings per share.
During the six months period ended at June 30, 2016 and 2015 no common shares were issued.
| 2016 | 2015 | ||
|---|---|---|---|
| Consolidated net profit attributable to the Group | (I) | 72,559 | 12,575 |
| Total number of ordinary shares | (II) | 237,505,141 | 204,635,695 |
| Number of own shares at the end of the semester | (III) | 3,639,812 | ‐ |
| Weighted average number of own shares | (IV) | 3,302,078 | ‐ |
| Number of shares outstanding | (II ‐ IV) | 234,203,063 | 204,635,695 |
| Earnings per share: | |||
| basic | (I) / (II ‐ IV) | 0.310 € | 0.061 € |
| diluted | (I) / (II ‐ IV) | 0.310 € | 0.061 € |
During the six months period ended at June 30, 2016, as approved at the General Shareholders Meetings held on May 28, 2015 and May 25, 2016, the GROUP proceeded to the acquisition of several tranches of own shares (2,080,070 shares) at an average price average of 1.3 euros per share, as disclosed below:
| 2016 | Quantity | Average cost | Amount |
|---|---|---|---|
| Opening Balance | 1,559,742 1.98 € | 3,084 | |
| Acquisitions | |||
| January | 792,502 1.22 € | 968 | |
| February | 1,283,376 1.35 € | 1,729 | |
| March | 4,192 1.67 € | 7 | |
| 2,080,070 | 1.30 € | 2,703 | |
| Closing Balance | 3,639,812 | 1.59 € | 5,788 |
The information regarding goodwill, for the six months period ended at June 30, 2016 and for the year ended at December 31, 2015, is as follows:
| 2016 | 2015 | ||||
|---|---|---|---|---|---|
| Goodwill Impairments of the period |
Transfers | Net Goodwill |
Net Goodwill |
||
| Europe Engeneering & Construction | |||||
| Mota‐Engil Central Europe Poland | 7,568 | ‐ | ‐ | 7,568 | 7,874 |
| Mota‐Engil Central Europe Czech Rep. | 1,146 | ‐ | ‐ | 1,146 | 1,147 |
| Other | 1,787 | ‐ | ‐ | 1,787 | 1,787 |
| 10,501 | ‐ | ‐ | 10,501 | 10,808 | |
| Europe Environment & Services | |||||
| Suma Group | 9,555 | (310) | ‐ | 9,245 | 9,555 |
| EGF Group | 40,317 | ‐ | ‐ | 40,317 | 39,621 |
| Other | 1,308 | ‐ | ‐ | 1,308 | 1,308 |
| 51,180 | (310) | ‐ | 50,870 | 50,484 | |
| Africa | |||||
| Cecot | 1,440 | ‐ | ‐ | 1,440 | 1,440 |
| Mota‐Engil S.Tomé | 143 | ‐ | ‐ | 143 | 143 |
| Vista Water | 1,841 | ‐ | ‐ | 1,841 | 1,841 |
| ME Construction South Africa | 10,992 | ‐ | ‐ | 10,992 | 10,663 |
| 14,416 | ‐ | ‐ | 14,416 | 14,087 | |
| Latin America | |||||
| Empresa Construtora Brasil | 5,572 | ‐ | ‐ | 5,572 | 4,640 |
| Consita | 592 | ‐ | ‐ | 592 | 493 |
| 6,164 | ‐ | ‐ | 6,164 | 5,132 | |
| 82,262 | (310) | ‐ | 81,952 | 80,512 |
The movements occurred in goodwill during the six months period ended at June 30, 2016 and during the year of 2015 were as follows:
| % of acquisition | 2016 | 2015 | |
|---|---|---|---|
| Goodwill at the beginning of the period | 80,512 | 136,677 | |
| Increases of goodwill | |||
| EGF Group | 95% | ‐ | 39,621 |
| ME Construction South Africa | 100% | ‐ | 6,748 |
| ‐ | 46,369 | ||
| Impairment losses | |||
| Suma Group | (310) | ‐ | |
| (310) ‐ |
|||
| Changes in the acqusition price | |||
| EGF Group | 696 | ‐ | |
| 696 | ‐ | ||
| Transfer of goodwill to non‐current assets held for sale | |||
| Tertir Group | ‐ | (100,856) | |
| Other | ‐ | 174 | |
| ‐ | (100,681) | ||
| Changes in goodwill due to exchange differences | |||
| Mota‐Engil Central Europe Poland | (306) | (697) | |
| Mota‐Engil Central Europe Czech Rep. | (1) | 8 | |
| Empresa Construtora Brasil | 933 | (1,571) | |
| ME Construction South Africa | 329 | 575 | |
| Other | 99 | (168) | |
| 1,054 | (1,853) | ||
| Goodwill at the end of the period | 81,952 | 80,512 |
As at June 30, 2016 and December 31, 2015, the detail of the financial investments in associates and jointly controlled companies is as follows:
| 2016 | 2015 | |
|---|---|---|
| Associated companies | ||
| Concessionária Autopista Tuxpan‐Tampico | 15,144 | 11,306 |
| Concessionária Autopista Cardel Poza Rica | 12,977 | 6,804 |
| Autopista Urbana Siervo de la Nacion | 3,513 | 3,869 |
| Suma Group | 2,760 | 2,733 |
| Marti fer Group 1) | 1,036 | 2,251 |
| Manvia II Condutas | 930 | 851 |
| Other | 6,908 | 6,524 |
| 43,268 | 34,338 |
1) As at June 30, 2016 and December 31, 2015 includes 37.5% of Martifer SGPS, SA and 46.95% of Vetor Diálogo SGPS, SA (entity incorporated in 2014 by the reference shareholders of Martifer Group for the acquisition of 25% of Martifer Metallic Constructions, SGPS, SA).
The increases occurred in the first half of 2016 in the affiliates "Concessionária Autopista Tuxpan‐Tampico" and "Concessionária Autopista Cardel Poza Rica" are justified, essentially, by the share capital increases performed on those companies.
As at June 30, 2016 and December 31, 2015, the detail of the financial investments available for sale and held to maturity is as follows:
| 2016 | 2015 | |
|---|---|---|
| Financial assets available for sale | ||
| BAI‐Banco Angolano de Investimentos | 39,904 | 39,904 |
| Czar Serviços Ambientais | 7,939 | ‐ |
| Auto ‐ Sueco Angola | 2,724 | 2,724 |
| STI | 2,202 | 2,202 |
| Ecodetra | 1,153 | 1,153 |
| Tirti fe | 901 | 901 |
| Other | 3,424 | 3,581 |
| 58,247 | 50,465 | |
| Advances for financial assets available for sale | ||
| Estradas do Zambeze | 4,800 | 4,800 |
| SPRI | 9,263 | 9,263 |
| Other | 7 | 7 |
| 14,069 | 14,069 | |
| Financial assets available for sale | 72,316 | 64,534 |
| Financial assets held to maturity | ||
| Angolan public debt securities | 49,422 | 28,726 |
| 49,422 | 28,726 | |
| Financial investments available for sale and held to maturity | 121,738 | 93,260 |
During the first half of 2016, some entities/companies in the Africa segment received about 21,000 thousand euros of Angolan public debt securities to settle trade debts held by Angolan public entities.
The amounts included in the captions "Cash and cash equivalents with recourse" at June 30, 2016 and at December 31, 2015, are as follows:
| Demand deposits | Term deposits | Total | ||||
|---|---|---|---|---|---|---|
| 2016 | 2015 | 2016 | 2015 | 2016 | 2015 | |
| Other treasury applications | 5,240 | 6,332 | ‐ | ‐ | 5,240 | 6,332 |
| Bank deposits & cash | ||||||
| Demand deposits | 224,341 | 266,471 | ‐ | 62,391 | 224,341 | 328,862 |
| Cash | 6,491 | 5,757 | ‐ | ‐ | 6,491 | 5,757 |
| 236,072 | 278,559 | ‐ | 62,391 | 236,072 | 340,950 |
The amounts included in the caption "Cash and cash equivalents without recourse" at June 30, 2016 and at December 31, 2015, are as follows:
| Demand deposits | ||
|---|---|---|
| 2016 | 2015 | |
| Other treasury applications | 2 | 993 |
| Bank deposits & cash | ||
| Demand deposits | 108,989 | 101,942 |
| Cash | 12 | 11 |
| 109,004 | 102,946 |
The amounts regarding Loans with recourse at June 30, 2016 and at December 31, 2015, are as follows:
| Current (1 year) |
2 years | 3 to 5 years | over 5 years | Non‐current | Total | |
|---|---|---|---|---|---|---|
| 2016 | ||||||
| Non‐convertible bond loans | 12,500 | 67,518 | 298,317 | ‐ | 365,835 | 378,335 |
| Amounts owed to credit institutions | ||||||
| Bank loans | 311,135 | 107,893 | 151,426 | 35,001 | 294,320 | 605,455 |
| Overdraft facilities | 109,918 | ‐ | ‐ | ‐ | ‐ | 109,918 |
| Revolving facilities | 151,262 | ‐ | ‐ | ‐ | ‐ | 151,262 |
| Other loans obtained | ||||||
| Commercial paper issues | 48,150 | 41,710 | 59,236 | ‐ | 100,946 | 149,096 |
| Other loans | 591 | 643 | 3,220 | 395 | 4,257 | 4,848 |
| 633,556 | 217,764 | 512,199 | 35,395 | 765,358 | 1,398,914 | |
| 2015 | ||||||
| Non‐convertible bond loans | 215,104 | 45,000 | 292,961 | ‐ | 337,961 | 553,065 |
| Amounts owed to credit institutions | ||||||
| Bank loans | 377,551 | 107,842 | 134,770 | 12,682 | 255,294 | 632,846 |
| Overdraft facilities | 74,295 | ‐ | ‐ | ‐ | ‐ | 74,295 |
| Revolving facilities | 161,427 | ‐ | ‐ | ‐ | ‐ | 161,427 |
| Other loans obtained | ||||||
| Commercial paper issues | 155,836 | 24,300 | 76,677 | ‐ | 100,977 | 256,812 |
| Other loans | 701 | 651 | 3,593 | 106 | 4,350 | 5,052 |
| 984,914 | 177,793 | 508,001 | 12,788 | 698,582 | 1,683,497 |
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 aforesaid programmes till their maturity, those debts were recorded as liabilities due in the medium and long term.
The amounts regarding Loans without recourse at June 30, 2016 and at December 31, 2015, are as follows:
| Current (1 year) |
2 years | 3 to 5 years | over 5 years | Non‐current | Total | |
|---|---|---|---|---|---|---|
| 2016 | ||||||
| Amounts owed to credit institutions | ||||||
| Bank loans | 24,605 | 36,164 | 74,732 | 73,969 | 184,865 | 209,470 |
| Revolving facilities | 6,752 | ‐ | ‐ | ‐ | ‐ | 6,752 |
| 31,357 | 36,164 | 74,732 | 73,969 | 184,865 | 216,222 | |
| 2015 | ||||||
| Bank loans | 32,435 | 30,579 | 79,473 | 93,076 | 203,128 | 235,563 |
| Revolving facilities | 8,099 | ‐ | ‐ | ‐ | ‐ | 8,099 |
| 40,534 | 30,579 | 79,473 | 93,076 | 203,128 | 243,662 |
In the first half of 2016, the changes occurred in the consolidation perimeter were as follows:
Companies consolidated for the first time in the period
Business Area ‐ Europe Environment and Services Eco Vision GESAR (ACE Manvia)
| Business Area ‐ Africa | |
|---|---|
| Liwonde Logistics Platform Ltd | |
| ME Africa PTY |
| Business Area ‐ Latin America | |
|---|---|
| Merger of Mota‐Engil Opway Mexicana in Mota‐Engil América Latina SAPI de CV | |
| Merger of ME Peru Ambiente e Serviços in Rentaco Peru | |
| Merger of Opway México in Mota‐Engil América Latina SAPI de CV | |
Lanval (liquidated) Mota‐Engil Brands Development (liquidated)
| Aqualevel, Soc. Unipessoal, Lda. |
|---|
| Águas de S. João, E.M., S.A. |
| Chinalog ‐ Serviços Logísticos e Consultadoria, Lda. |
| Ferrol Container Terminals S.A. |
| Indaqua – Indústria e Gestão de Águas, S.A. |
| Indaqua Fafe – Gestão de Águas de Fafe, S.A. |
| Indaqua Feira ‐ Indústria de Águas de Santa Maria da Feira, S.A. |
| Indaqua Matosinhos ‐ Gestão de Águas de Matosinhos, S.A. |
| Indaqua Oliveira de Azeméis ‐ Gestão de Águas de Oliveira de Azeméis, S.A. |
| Indaqua Santo Tirso/ Trofa – Gestão de Águas de Santo Tirso e Trofa, S.A. |
| Indaqua Vila do Conde ‐ Gestão de Águas de Vila do Conde, S.A. |
| Liscont ‐ Operadores de Contentores, S.A. |
| Mota‐Engil Logística, SGPS, S.A. |
| Multiterminal ‐ Soc. de Estiva e Tráfego, S.A. |
| Operestiva ‐ Empresa de Trabalho Portuário de Setúbal, Lda. |
| Porlis ‐ Empresa de Trabalho Portuário, Lda. |
| Quanshite International Freight Forwarding (Shangai ) Company, Limited |
| Sadoport ‐ Terminal Marítimo do Sado, S.A. |
| Sealine ‐ Navegação e Afretamentos, Lda. |
| Socarpor ‐ Soc. Cargas Port. (Aveiro), S.A. |
| Socarpor ‐ Soc. Gestora de Participações Sociais (Douro/ Leixões), S.A. |
| Sotagus ‐ Terminal de Contentores de Santa Apolónia, S.A. |
| SLPP ‐ Serviços Logísticos de Portos Portugueses, S.A. |
| TCL ‐ Terminal de Contentores de Leixões, S.A. |
| TCR – Tratamento Complementar de Resíduos, S.A. |
| Tertir ‐ Concessões Portuárias, SGPS, S.A. |
| Tertir ‐ Terminais de Portugal, S.A. |
| Tertir ‐ Terminais Portuários, SGPS, S.A. |
| Transitex do Brasil Serviços de Logística, Ltda. |
| Transitex Colombia, S.A.S. |
| Transitex Moçambique, Lda |
| Transitex México, S.A. de C.V. |
| Trânsitos de Extremadura, S.A. |
| Trânsitos de Extremadura, S.L. |
| Transitex Itália S.R.L |
| Transitex ‐ Global Logistics Operations (PTY) ltd. |
| Transitex Transitos Extremadura Chile SPA |
| Transitos de Extremadura com Serv de Importação |
| Transitex Angola (SU), LDA. |
| Transitex Transitos de Extremadura Peru S.A.C |
| Terminais Portuários Euroandinos Paita, S.A. |
| Tersado ‐ Terminais Portuários do Sado, S.A. |
Consórcio Los Faisanes (liquidated)
Change in the consolidation method from the equity method to the full consolidation method in Engineering and Construction:
As a result of the sale of the Ports and Logistic business by 245 million euros, a provisional capital gain of circa 65 million euros was recorded, which included the effect of the gains and losses (exchange differences and valuation of derivative financial instruments) recorded in previous years in the statement of other comprehensive income which were recycled in the semester to the income statement.
As a result of the sale of the INDAQUA SUBGROUP by 60 million euros, a provisional capital gain of circa 11 million euros was recorded, which included the effect of the gains and losses (valuation of derivative financial instruments) recorded in previous years in the statement of other comprehensive income which were recycled in the semester to the income statement.
At the Shareholders' General Meeting held on May 25, 2016, it was approved a dividend distribution regarding the net profit generated in 2015 of 5 cents per share totalling 11,875,257 euros and 5 cents.
As at August 3, 2016, MOTA‐ENGIL informed that its affiliate ASCENDI SGPS, S.A. (whose financial investment is recorded as a Non‐current asset held for sale in the statement of consolidated financial position) established with Ardian Infrastructure an agreement for the sale of the following assets:
Ardian Infrastructure will pay a total amount of 600 million euros which could be increased in 53 million euros due to a price variable mechanism.
The agreement, whose implementation depends of some corporate restructuring operations and several authorizations, also establishes the sale of several instrumental operation and maintenance companies of those concessions, also held by ASCENDI.
Investments in subsidiaries included in the consolidated financial statements using the full consolidation method, their headquarters, the effective holding percentage, their activity, their setup/acquisition 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") Through Mota‐Engil SGPS |
Portugal (Amarante) |
100.00 100.00 |
Real Estate Development | ‐ | Oct‐01 |
| ME 3I, SGPS, S.A. ("ME 3I SGPS") Through Mota‐Engil Indústria e Inovação |
Portugal (Linda‐a‐Velha) |
61.20 61.20 |
Management of financial holdings | Oct‐11 | ‐ |
| Mota‐Engil Indústria e Inovação, SGPS, S.A. ("Mota‐Engil Indústria e Inovação") Through Mota‐Engil SGPS |
Portugal (Linda‐a‐Velha) |
100.00 100.00 |
Management of financial holdings | Nov‐10 | ‐ |
| MK Contractors, LLC ("MKC") Through Mota‐Engil Engenharia e Construção |
USA (Miami ) |
100.00 100.00 |
Real Estate Development | Mar‐02 | ‐ |
| Mota‐Engil Finance, B.V. ("ME Finance BV") Through Mota‐Engil SGPS |
Netherlands (Amsterdam) |
100.00 100.00 |
Consulting Services | Dec‐12 | ‐ |
| Mota‐Engil Mining Management (Proprietary) Limited ("ME Mining Management") |
South Africa (Johannesburg) |
100.00 | Human Resources Management in Mining | Apr‐11 | ‐ |
| Through Mota‐Engil Minerals Mining Investment B.V. Mota‐Engil Minerals & Mining (Malawi) Limited ("ME Minerals & Mining |
100.00 | ||||
| Malawi") Through Mota‐Engil Minerals Mining Investment B.V. |
Malawi (Lilongwe) |
99.99 99.99 |
Prospecting, exploitation and processing of minerals |
Mar‐11 | ‐ |
| Mota‐Engil Minerals & Mining (Zimbabwe) (Private) Limited ("ME Minerals & Mining Zimbabwe") |
Zimbabwe (Harare) |
100.00 | Prospecting, exploitation and processing of minerals |
May‐11 | ‐ |
| Through Mota‐Engil Minerals Mining Investment B.V. Mota‐Engil Minerals Mining Investment B.V. ("ME Minerals Mining Investment BV") Through Mota‐Engil SGPS |
Netherlands (Amsterdam) |
100.00 100.00 100.00 |
Management of other companies | Oct‐10 | ‐ |
| RTA ‐ Rio Tâmega, Turismo e Recreio, S.A. ("RTA") Through Mota‐Engil SGPS |
Portugal (Amarante) |
100.00 100.00 |
Real Estate and Tourism | ‐ | May‐00 |
| SGA – Sociedade do Golfe de Amarante, S.A. ("SGA") Through RTA Through Mota‐Engil Engenharia e Construção |
Portugal (Amarante) |
97.17 96.89 0.28 |
Gol f Practice and Marketing and related activities |
Dec‐00 | ‐ |
| MESP ‐ Mota Engil , Serviços Partilhados, Administrativos e de Gestão, S.A. ("Mota‐Engil Serviços Partilhados") Through Mota‐Engil SGPS |
Portugal (Porto) |
100.00 100.00 |
Administrative Services | Dec‐02 | ‐ |
| Europe | |||||
| Engineering and Construction | |||||
| Aurimove – Sociedade Imobiliária, S.A. ("Aurimove") Through Mota‐Engil Real Estate Portugal |
Portugal (Porto) |
100.00 100.00 |
Real Estate Development | Dec‐93 | ‐ |
| 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 gol f courses |
‐ | Jul ‐07 |
| Balice Project Development Sp. z o.o. ("Balice") | Poland | 100.00 | Real Estate Development | Oct‐12 | ‐ |
| Through Mota‐Engil Real Estate, SGPS Bohdalecká Project Development s.r.o. ("Bohdalecká") |
(Cracow) Czech Republic |
100.00 100.00 |
|||
| Through Mota‐Engil Real Estate, SGPS | (Prague) | 100.00 | Real Estate Development | ‐ | Sep‐07 |
| Bukowinska Project Development ("Bukowinska Project Development ") Through Mota‐Engil Central Europe Polónia |
Poland (Cracow) |
100.00 100.00 |
Design and construction of social housing |
Mar‐15 | ‐ |
| 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") Through Mota‐Engil Engenharia e Construção |
Portugal (Vila Flor) |
100.00 100.00 |
Extraction of gravel, sand and crushed stone |
Mar‐77 | Oct‐09 |
| Corgimobil ‐ Empresa Imobiliária das Corgas, Lda. ("Corgimobil") Through Mota‐Engil Engenharia e Construção Through Mota‐Engil Real Estate Portugal |
Portugal (Cascais) |
97.25 71.79 25.46 |
Construction works, studies and real estate |
‐ | Nov‐00 |
| Bay 6.3. Korlátolt Felelősségű Társaság Kft. ("Bay 6.3") Through Obol Invest |
Hungary (Budapest) |
76.73 76.73 |
Real Estate Development | ‐ | Dec‐08 |
| Bay‐Office Korlátolt Felelősségű Társaság Kft. ("Bay Office") | Hungary | 76.73 | Real Estate Development | ‐ | Dec‐08 |
| Through Obol Invest Bay‐Park Korlátolt Felelősségű Társaság Kft. ("Bay Park") Through Obol Invest |
(Budapest) Hungary (Budapest) |
76.73 76.73 76.73 |
Real Estate Development | ‐ | Dec‐08 |
| Bay‐Tower Korlátolt Felelősségű Társaság Kft. ("Bay Tower") | Hungary | 76.73 | Real Estate Development | ‐ | Dec‐08 |
| Through Obol Invest Bay‐Wellness Korlátolt Felelősségű Társaság Kft. ("Bay Wellness") |
(Budapest) Hungary |
76.73 76.73 |
Real Estate Development | ‐ | Dec‐08 |
| Through Obol Invest Devonská Project Development A.S. ("Devonská") |
(Budapest) Czech Republic |
76.73 100.00 |
Real Estate Development | Dec‐06 | ‐ |
| Through Mota‐Engil Real Estate, SGPS Diace ‐ Construtoras das Estradas do Douro Interior A.C.E. ("Diace ACE |
(Prague) Portugal |
100.00 | |||
| MEEC") Through Mota–Engil Engenharia e Construção |
(Porto) | 53.10 53.10 |
Realization of construction works and services and providing design. |
Nov‐08 | ‐ |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Dmowskiego Project Development, Sp. z.o.o. ("Dmowskiego") Through Mota‐Engil Real Estate, SGPS |
Poland (Cracow) |
100.00 100.00 |
Real Estate Development | Aug‐07 | ‐ |
| Dzieci Warszawy Project Development Sp. z.o.o. ("Dzieci Warszawy Project Development") |
Poland (Cracow) |
100.00 | Real Estate Development | Nov‐15 | ‐ |
| Through Mota‐Engil Real Estate, SGPS Edifício Mota Viso – Soc. Imobiliária, Lda. ("Mota Viso") Through Mota‐Engil Real Estate Portugal |
Portugal (Porto) |
100.00 100.00 100.00 |
Real Estate Development | Jun‐94 | ‐ |
| Edipainel – Sociedade Imobiliária, Lda. ("Edipainel") Through Mota‐Engil Real Estate Portugal Through Mota–Engil Engenharia e Construção |
Portugal (Porto) |
100.00 70.00 30.00 |
Real Estate Development | Mar‐02 | ‐ |
| Ekosrodowisko z.o.o. In Liquidation ("Ekosrodowisko") Through MES |
Poland (Bytom) |
100.00 100.00 |
Urban solid waste | Feb‐05 | Dec‐05 |
| Engber Ingatlanforgalmazó És Szolgáltató Korlátolt Felelősségű Társaság Kft. ("Engber") |
Hungary | 76.73 | Real Estate Development | ‐ | Jun‐08 |
| Through Obol XI | (Budapest) | 76.73 | |||
| Glan Agua, Ltd ("Glanagua") Through MEIS |
Ireland (Ballinasloe) |
70.00 70.00 |
Treatement of waste, exploitation and management of water sytems |
Jan‐08 | ‐ |
| Glace ‐ Construtoras das Auto‐estradas da Grande Lisboa A.C.E. ("Glace ACE MEEC") |
Portugal | 52.87 | Realization of construction works and services and providing design. |
Dec‐06 | ‐ |
| Through Mota–Engil Engenharia e Construção Grossiman, S.L. ("Grossiman") |
(Porto) Spain |
52.87 100.00 |
Feb‐96 | Dec‐95 | |
| Through Mota‐Engil Engenharia e Construção | (Alcobendas) | 100.00 | Special foundations | ||
| Grota‐Roweckiego Project Development Sp. z o.o. ("Grota‐Roweckiego Project Development ") |
Poland | 100.00 | Real Estate Development | Oct‐12 | ‐ |
| Through Mota‐Engil Real Estate, SGPS | (Cracow) | 100.00 | |||
| Hungária Hotel Ingatlanforgamazó, Kereskedelmi, és Szolgáltató Kft. ("Hotel Achat Hungary") |
Hungary | 100.00 | Real Estate Development | Jun‐08 | ‐ |
| Through Mota‐Engil Real Estate, SGPS | (Budapest) | 100.00 | |||
| Immo Park Gdańsk, Sp. z.o.o. ("Immo Park Gdańsk") Through Mota‐Engil Central Europe Polónia |
Poland (Cracow) |
100.00 100.00 |
Design, construction, management and exploi tation of parking lots |
Mar‐13 | ‐ |
| Immo Park Warszawa, Sp. z.o.o. ("Immo Park Warszawa") | Poland | 100.00 | Design, construction, management and | Oct‐12 | ‐ |
| Through Mota‐Engil Central Europe Polónia | (Cracow) | 100.00 | exploi tation 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 | exploi tation of parking lots | ||
| Through Mota‐Engil Real Estate, SGPS | 40.00 | ||||
| Through Mota‐Engil Engenharia e Construção Kilinskiego Project Development Sp. z.o.o. ("Kilinskiego") |
Poland | 1.00 100.00 |
Aug‐07 | ‐ | |
| Through Mota‐Engil Real Estate, SGPS | (Cracow) | 100.00 | Real Estate Development | ||
| Kilinskiego Property Investment Sp. z.o.o. ("Kilinskiego PI") | Poland | 100.00 | Sep‐11 | ‐ | |
| Through Kilinskiego | (Cracow) | 99.99 | Real Estate Development | ||
| Through Mota‐Engil Real Estate, SGPS | 0.01 | ||||
| Kordylewskiego Project Development W Likwidacji Sp. z o.o. ("Kordylewskiego") |
Poland | 100.00 | Real Estate Development | Feb‐05 | ‐ |
| Through Mota‐Engil Real Estate, SGPS | (Cracow) | 100.00 | |||
| Listopada Project Development ("Listopada project Development ") | Poland | 100.00 | Real Estate Development | Nov‐15 | ‐ |
| Through Mota‐Engil Real Estate, SGPS | (Cracow) | 100.00 | |||
| Lusitânia ‐ Construtoras das Auto‐estradas das Beiras Litoral e Alta A.C.E. ("Lusitânia ACE MEEC") Through Mota–Engil Engenharia e Construção |
Portugal (Porto) |
83.95 83.95 |
Realization of construction works and services and providing design. |
Apr‐01 | ‐ |
| Mercado Urbano ‐ Gestão Imobiliária, S.A. ("Mercado Urbano") | Portugal | 100.00 | Jul ‐09 | Mar‐11 | |
| Through Mota‐Engil Real Estate Portugal | (Porto) | 100.00 | Real Estate Development | ||
| ME Real Estate ‐ Mota‐Engil Real Estate Portugal, S.A. ("Mota‐Engil Real Estate Portugal") Through Mota‐Engil Real Estate, SGPS |
Portugal (Porto) |
100.00 100.00 |
Real Estate Development | Sep‐01 | ‐ |
| ME Investitii AV s.r.l. ("Mota‐Engil Investitii") | Romania (Bucharest) |
100.00 | Real Estate Development | ‐ | Sep‐07 |
| Through Mota‐Engil Real Estate, SGPS | 100.00 | ||||
| MES, Mota‐Engil Srodowisko, Sp. z.o.o. ("MES") Through Suma |
Poland (Cracow) |
100.00 100.00 |
Urban solid waste | Dec‐05 | ‐ |
| Metró Építoipari Gépészeti és szállítási, Zrt ("Metroepszolg") | Hungary | 100.00 | Dec‐00 | ‐ | |
| Through Mota‐Engil Magyarország | (Budapest) | 100.00 | Public works | ||
| Motadomus ‐ Sociedade Imobiliária, Lda. ("Motadomus") 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 Ireland") | Ireland | 60.00 | Construction works | Oct‐07 | ‐ |
| Through Mota‐Engil Engenharia e Construção | (Dublin) | 60.00 | |||
| Mota‐Engil Engenharia e Construção, S.A. ("Mota‐Engil Engenharia") Through Mota‐Engil Europa |
Portugal (Amarante) |
100.00 100.00 |
Construction works, and purchase and sale of real estate |
‐ | Dec‐00 |
| Mota‐Engil Real Estate, SGPS, S.A. ("Mota‐Engil Central Europe SGPS") | Portugal | 100.00 | Dec‐02 | ‐ | |
| Through Mota‐Engil Europa | (Porto) | 100.00 | Management of financial holdings |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Mota‐Engil Central Europe, S.A. ("Mota‐Engil Central Europe Polónia") Through Mota‐Engil Engenharia e Construção |
Poland (Cracow) |
100.00 100.00 |
Construction works | Feb‐53 | Mar‐99 |
| Mota‐Engil Central Europe Ceska Republika, AS ("Mota‐Engil Central Europe República Checa") |
Czech Republic | 100.00 | Construction and public works | Jan‐97 | ‐ |
| Through Mota‐Engil Europa Mota‐Engil Central Europe Business Support Center Sp. z o. o. ("MECE |
(Prague) Poland |
100.00 100.00 |
|||
| Business Support Center") Through Mota‐Engil Central Europe Polónia |
(Cracow) | 100.00 | Administrative Services | Dec‐09 | ‐ |
| Mota‐Engil Ireland Services Ltd. ("MEIS") Through Mota‐Engil Engenharia e Construção |
Ireland (Dublin) |
70.00 70.00 |
Treatement of waste, exploitation and management of water sytems |
Jan‐08 | ‐ |
| Mota‐Engil Central Europe Hungary Beruházási és Építoipari Kft. ("ME Central Europe Hungria") Through Mota‐Engil Central Europe Polónia |
Hungary (Budapest) |
100.00 100.00 |
Construction and public works | Feb‐08 | ‐ |
| Mota‐Engil Central Europe Slovenská Republika, AS ("Mota‐Engil Central Europe Eslováquia") |
Slovakia (Bratislava) |
100.00 | Construction works | Aug‐04 | ‐ |
| Through Mota‐Engil Real Estate, SGPS Mota‐Engil Brand Management B.V. ("Mota‐Engil Brand Management") |
Netherlands | 100.00 100.00 |
Management of trademarks and other | Dec‐09 | ‐ |
| Through Mota‐Engil Real Estate, SGPS Mota‐Engil Magyarország Beruházási És Épitoipari Zrt. ("Mota‐Engil |
(Amsterdam) Hungary |
100.00 100.00 |
intellectual property | Jan‐96 | ‐ |
| Magyarország") Through Mota‐Engil Engenharia e Construção |
(Budapest) | 100.00 | Public works | ||
| Mota‐Engil Parking 2 Sp. z.o.o ("ME Parking 2") Through Mota‐Engil Real Estate, SGPS |
Poland (Cracow) |
100.00 100.00 |
Design, construction, management and exploitation of parking lots |
Mar‐12 | ‐ |
| Mota‐Engil Central Europe PPP Sp. z.o.o ("ME Central Europe PPP") Through Mota‐Engil Central Europe Polónia |
Poland (Cracow) |
100.00 100.00 |
Design, construction, management and exploitation of parking lots |
Mar‐12 | ‐ |
| Mota‐Engil Central Europe PPP 2 Sp. z.o.o ("ME Central Europe PPP 2") Through Mota‐Engil Central Europe Polónia |
Poland (Cracow) |
100.00 100.00 |
Design, construction, management and exploitation of parking lots |
Dec‐13 | ‐ |
| Mota‐Engil Central Europe PPP Road Sp. z.o.o ("ME Central Europe PPP Road") |
Poland (Cracow) |
100.00 | Design, construction, management and exploitation of parking lots |
‐ | Nov‐13 |
| Through Mota‐Engil Central Europe Polónia Mota‐Engil Central Europe PPP 3 Sp. Z.o.o (ME Central Europe PPP 3) Through Mota‐Engil Central Europe Polónia |
Poland (Cracow) |
100.00 100.00 100.00 |
Design, construction, management and exploitation of parking lots |
Apr‐14 | ‐ |
| Norace ‐ Construtoras das Auto‐estradas do Norte A.C.E. ("Norace ACE MEEC") |
Portugal (Porto) |
82.87 | Realization of construction works and services and providing design. |
Jun‐99 | ‐ |
| Through Mota–Engil Engenharia e Construção Grodkowska Project Development Sp. z.o.o ("Grodkowska Project Development ") |
Poland | 82.87 100.00 |
Design and construction of social housing |
Mar‐14 | ‐ |
| Through Mota‐Engil Real Estate, SGPS | (Cracow) | 100.00 | |||
| Mota‐Engil Real Estate Hungary Ingatlanforgalmazó, Kereskedelmi és Szolgáltató Kft.("Mota‐Engil Real Estate Hungary") Through Mota‐Engil Real Estate, SGPS |
Hungary (Budapest) |
100.00 100.00 |
Real Estate Development | Jul ‐05 | ‐ |
| Mota‐Engil Real Estate Management, sp. z.o.o. ("Mota‐Engil Real Estate Management") |
Poland (Cracow) |
100.00 | Real Estate Development | Jun‐05 | ‐ |
| Through Mota‐Engil Real Estate, SGPS Nortedomus, Sociedade Imobiliária SA. ("Nortedomus") |
Portugal | 100.00 100.00 |
‐ | Oct‐01 | |
| Through Mota‐Engil Real Estate Portugal Nádor‐Öböl Ingatlanforgalmazó És Beruházó Korlátolt Felelősségű Társaság |
(Lisbon) | 100.00 | Real Estate Development | ||
| Kft. ("Nádor Obol") Through Obol XI |
Hungary (Budapest) |
76.73 76.73 |
Real Estate Development | ‐ | Oct‐06 |
| Öböl Invest Befektetési És Üzletviteli Tanácsadó Korlátolt Felelősségű Társaság Kft. ("Obol Invest") |
Hungary | 77.50 | Real Estate Development | ‐ | May‐05 |
| Through Mota‐Engil Real Estate, SGPS Öböl Xi. Ingatlanhasznosítási Beruházó És Szolgáltató Korlátolt Felelősségű |
(Budapest) | 77.50 | |||
| Társaság Kft. ("Obol XI") Through Obol Invest |
Hungary (Budapest) |
76.73 76.73 |
Real Estate Development | ‐ | Dec‐03 |
| Project Development 1 Sp. Z.o.o. ("Project Development 1") Through Mota‐Engil Real Estate, SGPS |
Poland (Cracow) |
100.00 100.00 |
Real Estate Development | Nov‐15 | ‐ |
| Project Development 2 Sp. Z.o.o. ("Project Development 2") | Poland | 100.00 | Real Estate Development | Nov‐15 | ‐ |
| Through Mota‐Engil Real Estate, SGPS Pinhal ‐ Construtoras das Auto‐estradas do Pinhal Interior A.C.E. ("Pinhal |
(Cracow) | 100.00 | |||
| ACE MEEC") Through Mota–Engil Engenharia e Construção |
Portugal (Porto) |
53.52 53.52 |
Realization of construction works and services and providing design. |
Apr‐10 | ‐ |
| Portuscale ‐ Construtoras das Auto‐estradas do Grande Porto A.C.E. ("Portuscale ACE MEEC") |
Portugal (Porto) |
83.95 | Realization of construction works and services and providing design. |
Jul ‐02 | ‐ |
| Through Mota–Engil Engenharia e Construção Turalgo‐Sociedade de Promoção Imobiliária e Turística do Algarve, S.A. ("Turalgo") |
Potugal | 83.95 51.00 |
Real Estate Development | May‐92 | ‐ |
| Through Mota‐Engil Real Estate Portugal Sampaio Üzletviteli Tanácsadó Korlátolt Felelősségű Társaság Kft. |
(Oeiras) | 51.00 | |||
| ("Sampaio") Through Obol XI |
Hungary (Budapest) |
76.73 76.73 |
Real Estate Development | ‐ | Jan‐03 |
| Sedengil – Sociedade Imobiliária, S.A. ("Sedengil") Through Mota‐Engil Real Estate Portugal |
Portugal (Matosinhos) |
100.00 100.00 |
Real Estate Development | Oct‐82 | May‐95 / May‐97 |
| SC Mota‐Engil Central Europe Romania S.R.L. ("Mota‐Engil Central Europe Roménia") |
Romania (Bucharest) |
100.00 | Road construction works | Jul ‐09 | ‐ |
| Through Mota‐Engil Central Europe Polónia Sikorki Project Development Sp. z o.o. ("Sikorki") |
Poland | 100.00 100.00 |
Oct‐12 | ‐ | |
| Through Mota‐Engil Real Estate, SGPS Soltysowska Project Development Sp. z o.o. ("Soltysowska") |
(Cracow) Poland |
100.00 100.00 |
Real Estate Development | Nov‐05 | ‐ |
| Through Mota‐Engil Real Estate, SGPS | (Cracow) | 100.00 | Real Estate Development |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Senatorska Project Development Sp. z.o.o. ("Senatorska Project Development") |
Poland (Cracow) |
100.00 | Real Estate Development | Nov‐15 | ‐ |
| Through Mota‐Engil Real Estate, SGPS | 100.00 | ||||
| Takargo‐Trasporte de Mercadorias, S.A. ("Takargo") | Portugal | 100.00 | Sep‐06 | ‐ | |
| Through Mota‐Engil Ambiente e Serviços | (Linda‐a‐Velha) | 70.00 | Rail transport of goods | ||
| Through da Mota‐Engil Engenharia e Construção Tetenyi Project Development Ingatlanforgalmazó, Kereskedelmi és |
30.00 | ||||
| Szolgáltató Kft ("Tetenyi") | Hungary | 100.00 | Real Estate Development | Jan‐05 | ‐ |
| Through Mota‐Engil Real Estate, SGPS | (Budapest) | 100.00 | |||
| Vibeiras – Sociedade Comercial de Plantas, S.A. ("Vibeiras") | Portugal | 66.67 | Landscape gardening | Jul ‐88 | Oct‐98 |
| Through Mota‐Engil Engenharia e Construção | (Torres Novas) | 66.67 | |||
| Vianor ‐ Construtoras das Auto‐estradas da Costa de Prata A.C.E. ("Vianor | Portugal | 83.95 | Realization of construction works and | Apr‐00 | ‐ |
| ACE MEEC") | (Porto) | services and providing design. | |||
| Through Mota–Engil Engenharia e Construção | 83.95 | ||||
| VBT ‐ Projectos e Obras de Arquitectura Paisagística, Lda ("VBT") | Angola | 60.00 | Sep‐08 | ‐ | |
| Through Vibeiras Through Mota‐Engil Ambiente e Serviços |
(Luanda) | 50.00 10.00 |
Landscape gardening | ||
| Wilanow Project Development SP. z.o.o. ("Wilanow") | Poland | 100.00 | Jun‐07 | ‐ | |
| Through Mota‐Engil Real Estate, SGPS | (Cracow) | 100.00 | Real Estate Development | ||
| Wilenska Project Development Sp. z.o.o. w likwidacji ("Wilenska") | Poland | 100.00 | Jan‐05 | ‐ | |
| Through Mota‐Engil Real Estate, SGPS | (Cracow) | 100.00 | Real Estate Development | ||
| Environment and Services | |||||
| AGIR ‐ Ambiente e Gestão Integrada de Resíduos, Lda. ("Agir") | Cape Verde | 80.75 | Dec‐07 | ‐ | |
| Through Mota‐Engil Ambiente e Serviços | (Praia) | 50.00 | Collection of urban solid waste | ||
| Through Suma | 30.75 | ||||
| Algar ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Algar") | Portugal | 31.49 | Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| Through EGF Amarsul‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Amarsul") |
(Loulé) Portugal |
31.49 28.68 |
Treatment and recovery of urban solid | ||
| Through EGF | (Setúbal ) | 28.68 | waste | ‐ | Jun‐15 |
| CH&P – Combined Heat & Power Anadia, Sociedade Unipessoal, Lda | Exploitation of a co‐generation plant for | ||||
| ("CH&P Anadia") | Portugal | 90.00 | the production of electric and thermal | May‐11 | ‐ |
| Through Manvia | (Linda‐a‐Velha) | 90.00 | energy | ||
| CH&P – Combined Heat & Power Coja, Unipessoal, Lda ("CH&P Coja") | Portugal | 90.00 | Exploitation of a co‐generation plant for | May‐11 | ‐ |
| (Linda‐a‐Velha) | the production of electric and thermal | ||||
| Through Manvia Citrave ‐ Centro Integrado de Tratamento de Resíduos de Aveiro, S.A. |
90.00 | energy | |||
| ("Citrave") | 61.50 | ||||
| Through Suma | Portugal | 61.41 | Treatment and disposal of non‐hazardous | Dec‐87 | Oct‐06 |
| Through Novaflex | (Lisbon) | 0.05 | waste | ||
| Through Suma Esposende | 0.05 | ||||
| Correia & Correia, Lda. ("Correia & Correia") | Portugal | 48.19 | Trade and collection of used oils | Sep‐88 | Feb‐00 |
| Through Enviroil | (Sertã) | 48.19 | |||
| Enviroil SGPS, Lda. ("Enviroil") | Portugal | 48.19 | Management of financial holdings | Nov‐97 | ‐ |
| Through Suma Enviroil II – Reciclagem de Óleos Usados, Lda. ("Enviroil II") |
(Torres Novas) Portugal |
48.19 43.37 |
Oil recycling, electrici ty production and | Apr‐11 | ‐ |
| bulk trade of fuels and related products | |||||
| Through Enviroil | (Torres Novas) | 43.37 | |||
| Ersuc ‐ Resíduos Sólidos do Centro, S.A. ("Ersuc") | Portugal | 32.62 | Treatment and recovery of urban solid | ||
| Through EGF | (Coimbra) | 28.94 | waste | ‐ | Jun‐15 |
| Through Suma | 3.67 | ||||
| Empresa Geral de Fomento, S.A. ("EGF") Through Suma Tratamento |
Portugal (Lisbon) |
56.24 56.24 |
Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| Eco Vision LLC ("Eco Vision") | Oman | 31.37 | Treatment and recovery of urban solid | ||
| Through Suma | (Muscat) | 31.37 | waste | Jul ‐15 | ‐ |
| InvestAmbiente ‐ Recolha de Resíduos e Gestão de Sistemas de | Portugal | ||||
| Saneamento Básico, S.A. ("Investambiente") | (Lisbon) | 31.98 | Collection of non‐hazardous waste | Feb‐00 | Dec‐07 |
| Through Novaflex | 31.98 | ||||
| Lokemark ‐ Soluções de Marketing, S.A. ("Lokemark") | 70.00 | Services, marketing solutions, | Jun‐03 | Sep‐07 | |
| Portugal | construction and sale of data bases, | ||||
| (Setúbal ) | 70.00 | management and exploitation of the postal service's infrastructures |
|||
| Through Mota‐Engil Ambiente e Serviços | |||||
| Manvia ‐ Manutenção e Exploração de Instalações e Construção, S.A. ("Manvia") |
Portugal | 90.00 | Maintenance and exploitation of | Jul ‐94 | Jun‐98 |
| Through Mota–Engil Ambiente e Serviços | (Linda‐a‐Velha) | 90.00 | installations | ||
| Mota‐Engil Europa, S.A. ("Mota‐Engil Europa") | Portugal | 100.00 | Jun‐10 | ‐ | |
| Through Mota‐Engil SGPS | (Linda‐a‐Velha) | 100.00 | Management of financial holdings | ||
| Mota‐Engil II, Gestão, Ambiente, Energia e Concessões de Serviços, S.A. | Portugal | 100.00 | Dec‐03 | ‐ | |
| ("MEAS II") | (Porto) | Projects' management | |||
| Through Mota‐Engil Europa | 100.00 | ||||
| Mota‐Engil, Ambiente e Serviços, SGPS, S.A. ("Mota‐Engil Ambiente e Serviços") |
Portugal | 100.00 | Management of financial holdings | Jun‐97 | ‐ |
| Through Mota‐Engil Europa | (Porto) | 100.00 |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| 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 |
‐ | Dec‐07 |
| Novaflex ‐ Técnicas do Ambiente, S.A. ("Novaflex") Through Suma |
Portugal (Lisbon) |
61.50 61.50 |
Collection of other non‐hazardous waste | ‐ | Dec‐07 |
| Proempar ‐ Promoção e Gestão de Parques Empresariais e Tecnológicos, S.A. ("Proempar") Through Mota‐Engil Ambiente e Serviços |
Portugal (Porto) |
100.00 74.00 |
Marketing, management and exploitation of technological and industrial business parks |
Oct‐06 | ‐ |
| Through Mota‐Engil Engenharia e Construção PTT ‐ Parque Tecnológico do Tâmega, S.A. ("PTT") Through Proempar |
Portugal (Felgueiras) |
26.00 90.00 70.00 |
Marketing and management of | Dec‐06 | ‐ |
| Through Mota‐Engil Ambiente e Serviços Through Mota‐Engil Engenharia e Construção Real Verde ‐ Técnicas de Ambiente, S.A. ("Real Verde") |
Portugal | 10.00 10.00 61.50 |
technological business hosting Treatment and disposal of other non‐ |
Dec‐07 | ‐ |
| Through Novaflex Resiges ‐ Gestão de Resíduos Hospitalares, Lda. ("Resiges") |
(Vila Real ) Portugal |
61.50 61.50 |
hazardous waste Collection of hazardous waste |
May‐98 | Dec‐07 |
| Through Novaflex Resilei – Tratamento de Resíduos Industriais, S.A. ("Resilei") |
(Setúbal ) Portugal |
61.50 30.75 |
Treatment and disposal of other non‐ | ‐ | Jun‐03 |
| Through Suma Resiestrela ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. |
(Leiria) | 30.75 | hazardous waste | ||
| ("Resiestrela") Through EGF |
Portugal (Castelo Branco) |
35.40 35.40 |
Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| Resinorte ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Resinorte") Through EGF |
Portugal (Braga) |
42.24 42.24 |
Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| Resulima ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Resulima") | Portugal (Viana do Castelo) |
28.68 | Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| Through EGF Rima – Resíduos Industriais e Meio Ambiente, S.A. ("Rima") Through Suma |
Portugal (Lourosa) |
28.68 59.12 59.12 |
Treatment of industrial waste | Aug‐01 | ‐ |
| SIGA ‐ Sistema Integrado de Gestão Ambiental, S.A. ("Siga") Through Suma |
Portugal (Ponta Delgada) |
43.05 43.05 |
Treatment and disposal of non‐hazardous waste |
Oct‐08 | ‐ |
| Suldouro ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Suldouro") Through EGF |
Portugal (Vila Nova de Gaia) |
33.74 33.74 |
Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| SRI ‐ Gestão de Resíduos, Lda ("SRI") Through Correia & Correia |
Portugal (Sertã) |
48.19 48.19 |
Collection of hazardous waste | Jul ‐08 | ‐ |
| SIGAMB ‐ Sistemas de Gestão Ambiental, Lda. (Angola) ("SIGAMB") Through Novaflex |
Angola (Luanda) |
61.44 61.44 |
Technical studies, consulting and environmental trainning |
Feb‐14 | ‐ |
| Suma (Douro) ‐ Serviços Urbanos e Meio Ambiente, Lda. ("Suma Douro") Through Suma |
Portugal (Murça) |
61.50 61.50 |
Collection of urban solid waste | Jul ‐00 | ‐ |
| Suma (Esposende) ‐ Serviços Urbanos e Meio Ambiente, Lda. ("Suma Esposende") Through Suma |
Portugal (Esposende) |
61.50 61.50 |
Collection of urban solid waste | Dec‐99 | ‐ |
| Suma (Macau), Lda. ("Suma Macau") Through Suma |
China (Macau) |
60.89 60.89 |
Collection of urban solid waste | ‐ | Dec‐13 |
| Suma (Matosinhos) ‐ Serviços Urbanos e Meio Ambiente, S.A. ("Suma Matosinhos") Through Suma |
Portugal (Matosinhos) |
61.50 61.50 |
Collection of urban solid waste | Dec‐00 | ‐ |
| Suma (Porto) ‐ Serviços Urbanos e Meio Ambiente, S.A. ("Suma Porto") Through Suma |
Portugal (Porto) |
61.50 61.50 |
Collection of urban solid waste | Nov‐08 | ‐ |
| Suma Tratamento, S.A. ("Suma Tratamento") Through Suma Through Suma Esposende |
Portugal | 59.20 49.19 0.01 |
Collection of urban solid waste | Oct‐14 | ‐ |
| Through Novaflex Through Mota‐Engil Ambiente e Serviços |
(Lisbon) | 0.01 10.00 |
|||
| Suma – Serviços Urbanos e Meio Ambiente, S.A. ("Suma") Through Mota‐Engil Ambiente e Serviços |
Portugal (Lisbon) |
61.50 61.50 |
Collection of urban solid waste | Jun‐94 | ‐ |
| Tratofoz ‐ Sociedade de Tratamento de Resíduos, S.A. ("Tratofoz") Through Mota‐Engil Ambiente e Serviços Through Suma |
Portugal (Porto) |
99.62 99.00 0.62 |
Collection of urban solid waste | Oct‐02 | ‐ |
| Triu ‐ Técnicas de Resíduos Industriais e Urbanos, S.A. ("Triu") Through Enviroil |
Portugal (Loures ) |
48.19 48.19 |
Collection of non‐hazardous waste | Apr‐91 | Sep‐08 |
| Triaza ‐ Tratamento de Resíduos Industriais da Azambuja, S.A. ("Triaza") Through Suma |
Portugal (Azambuja) |
61.50 61.50 |
Collection of non‐hazardous waste | Nov‐15 | Sep‐08 |
| Valnor ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Valnor") Through EGF |
Portugal (Portalegre) |
29.99 29.99 |
Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| Valorlis ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. ("Valorlis") Through EGF |
Portugal (Leiria) |
28.68 28.68 |
Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| Valorminho ‐ Valorização e Tratamento de Resíduos Sólidos, S.A. Through EGF |
Portugal (Valença) |
28.68 28.68 |
Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| Valorsul ‐ Valorização e Tratamento de Resíduos Sólidos das Regiões de Lisbon e do Oeste, S.A. ("Valorsul") Through EGF |
Portugal (Loures ) |
29.77 29.77 |
Treatment and recovery of urban solid waste |
‐ | Jun‐15 |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Africa | |||||
| Akwangola, S.A. ("Akwangola") Through Vista Water |
Angola (Luanda) |
27.94 27.94 |
Exploitation of water market | Dec‐10 | Dec‐13 |
| Cecot ‐ Centro de Estudos e Consultas Técnicas, Lda. ("Cecot") | Mozambique | 99.70 | Construction works' projects and | Sep‐98 | Apr‐11 |
| Through MEEC África Cosamo (Proprietary) Limited ("Cosamo") |
(Maputo) South Africa |
99.70 99.70 |
inspection | Dec‐76 | ‐ |
| Through Mota Internacional | (Johannesburg) | 99.70 | Commercial | ||
| Ecolife, S.A. ("Ecolife") Through Mota‐Internacional Through Suma |
Mozambique (Maputo) |
58.33 39.88 18.45 |
Collection of urban solid waste | Dec‐13 | ‐ |
| Fatra ‐ Fábrica de Trefilaria de Angola, S.A. ("Fatra") Through Mota‐Engil Angola |
Angola (Luanda) |
35.59 35.59 |
Manufacturing of iron‐derived products | ‐ | Nov‐10 |
| Fibreglass Sundlete (Mozambique), Lda. ("Fibreglass") Through ME Mauritius |
Mozambique (Maputo) |
99.70 99.70 |
Commercial | Aug‐62 | Mar‐99 |
| Indimo, Lda. ("Indimo") | Mozambique | 99.70 | ‐ | Oct‐04 | |
| Through Cecot Through MEEC África |
(Maputo) | 49.85 49.85 |
Real Estate Development | ||
| Liwonde Logostics Platform Limited ("Liwonde Logistics Platform Ltd") | Malawi | 99.34 | Jun‐15 | ‐ | |
| Through ME Investments Malawi Through MEEC Africa – Malawi Branch |
(Lilongwe) | 50.34 49.00 |
Management of societies' management | ||
| Mota‐Engil Engenharia e Construção África, S.A. ("MEEC África") | Portugal | 99.70 | Construction works | Aug‐12 | ‐ |
| Through Mota‐Engil África N.V. Mota‐Engil África, N.V. ("ME África NV") |
(Porto) Netherlands |
99.70 99.70 |
Oct‐12 | ‐ | |
| Through Mota‐Engil SGPS | (Amesterdam) | 99.70 | Management of societies' management | ||
| Mota‐Engil África, SGPS, S.A. ("Mota‐Engil África") | Portugal | 99.70 | Management of financial holdings | May‐10 | ‐ |
| Through MEEC África Mota‐Engil África Finance B.V. ("ME África Finance BV") |
(Porto) Netherlands |
99.70 99.70 |
|||
| Through Mota‐Engil África N.V. | (Amesterdam) | 99.70 | Management of societies' management | May‐14 | ‐ |
| Mota‐Engil África Global Technical Services B.V. ("ME África GTS BV") Through Mota‐Engil África N.V. |
Netherlands (Amesterdam) |
99.70 99.70 |
Management of societies' management | May‐14 | ‐ |
| Mota Internacional – Comércio e Consultadoria Económica, Lda. ("Mota | Portugal | 99.70 | Trade and management of international | Sep‐97 | Dec‐98 |
| Internacional") Through Mota‐Engil África |
(Funchal) | 99.70 | holdings | ||
| Mota‐Engil África Mozambique, Lda. ("Emocil") | Mozambique | 99.70 | Jul ‐94 | ‐ | |
| Through MEEC África Through Indimo |
(Maputo) | 49.85 49.85 |
Real Estate Development | ||
| Mota‐Engil Angola, S.A. ("Mota‐Engil Angola") | Angola | 50.85 | Construction works and public and | May‐10 | ‐ |
| Through Mota Internacional Malawi Ports Company Limited ("Malawi Ports Company") |
(Luanda) Malawi |
50.85 99.70 |
private works | Nov‐10 | ‐ |
| Through MEEC África | (Lilongwe) | 87.74 | Sea transport | ||
| Through ME Malawi Malawi Shipping Company Limited ("Malawi Shipping Company") |
Malawi | 11.96 99.70 |
Nov‐10 | ‐ | |
| Through MEEC África | (Lilongwe) | 87.74 | Sea transport | ||
| Through ME Malawi Martinox, SA ("Martinox") |
Angola | 11.96 48.30 |
Feb‐08 | Dec‐11 | |
| Through Mota‐Engil Angola | (Benguela) | 48.30 | Stainless steel works | ||
| Mota & Companhia Maurícias, Lda. ("ME Maurícias") Through MEEC África |
Mauritius (Ebene) |
99.70 99.70 |
Construction works | May‐10 | ‐ |
| Mota‐Engil Africa (PTY) Limited ("ME Africa PTY") Through Mota‐Engil África N.V. |
South Africa | 99.70 94.72 |
Management of societies' management | Nov‐15 | ‐ |
| Through MEEC África | (Johannesburg) | 4.99 | |||
| Mota‐Engil Construction South Africa, Pty Ltd ("ME Construction South Africa") |
South Africa | 99.70 | Construction works | Mar‐14 | ‐ |
| Through Mota‐Engil Investments South Africa | (Johannesburg) | 99.70 | |||
| Mota‐Engil (Malawi) Limited ("ME Malawi") Through MEEC África |
Malawi (Lilongwe) |
99.69 99.69 |
Public works and /or construction works contractor |
Jul ‐11 | ‐ |
| Mota‐Engil Investments (Malawi) Limited ("ME Investments Malawi") Through Mota‐Engil Africa |
Malawi (Lilongwe) |
98.70 98.70 |
Public works and /or construction works contractor |
Mar‐11 | ‐ |
| Mota‐Engil Investments South Africa, Pty Ltd ("Mota‐Engil Investments | South Africa | 99.70 | Public works and /or construction works | ‐ | Mar‐14 |
| South Africa") Through Mota Internacional |
(Johannesburg) | 99.70 | contractor | ||
| Mota‐Engil S.Tomé e Principe, Lda. ("Mota‐Engil S.Tomé") | S. Tomé and Príncipe | 99.70 | Public works and /or construction works | Dec‐04 | ‐ |
| Through Mota Internacional Through MEEC África |
(S. Tomé) | 94.72 4.99 |
contractor | ||
| Novicer‐Cerâmicas de Angola,(SU) Limitada. ("Novicer") | Angola | 50.85 | Manufacturing and trade in clay goods | Sep‐07 | ‐ |
| Through Mota‐Engil Angola Prefal – Préfabricados de Luanda, Lda. ("Prefal") |
(Luanda) Angola |
50.85 45.76 |
Dec‐93 | ‐ | |
| Through Mota‐Engil Angola | (Luanda) | 45.76 | Manufacturing of prestressed goods | ||
| Penta ‐ Engenharia e Construção, Lda. ("Penta") Through MEEC África Through Mota Internacional |
Cape Verde | 99.70 95.71 3.99 |
Construction works and public and private works |
Apr‐07 | ‐ |
| Rentaco Angola ‐ Equipamentos e Transportes, (SU) Limitada. ("Rentaco Angola") |
Angola | 50.85 | Rental of construction equipment | Jan‐08 | ‐ |
| Through Mota‐Engil Angola | (Luanda) | 50.85 |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| Sonauta ‐ Sociedade de Navegação, Lda. ("Sonauta") | 99.70 | Sea transport, excluding coastal | Nov‐94 | ‐ | |
| Through Mota Internacional | Angola (Luanda) |
99.70 | transport | ||
| STM ‐ Sociedade de Terminais de Mozambique, Lda ("STM") | Mozambique | 49.85 | Feb‐94 | Feb‐94 | |
| Through MEEC África | (Maputo) | 49.85 | Port operations | ||
| Tracevia Angola ‐ Sinalização, Segurança e Gestão de Tráfego, Lda. ("Tracevia Angola") |
Angola (Luanda) |
40.68 | Road signs | ‐ | Sep‐07 |
| Through Mota‐Engil Angola | 40.68 | ||||
| Vista Energy Environment & Services, S.A. ("Vista SA") | Angola | 50.85 | Jul ‐08 | Dec‐13 | |
| Through Mota‐Engil Angola | (Luanda) | 50.85 | Management of financial holdings | ||
| Vista Waste Management, Lda. ("Vista Waste") | Angola | 56.07 | Dec‐09 | Dec‐13 | |
| Through Mota‐Engil Angola | (Luanda) | 5.08 | Collection of waste | ||
| Through Vista SA | 20.85 | ||||
| Through Suma | 30.14 | ||||
| Vista Multi Services, Lda. ("Vista Multi Services") | Angola | 50.85 | Urban services | May‐09 | Dec‐13 |
| Through Vista SA Through Mota‐Engil Angola |
(Luanda) | 40.68 10.17 |
|||
| Vista Water, Lda. ("Vista Water") | Angola | 27.97 | May‐09 | Dec‐13 | |
| Through Mota‐Engil Angola | (Luanda) | 6.36 | Exploitation of the water market | ||
| Through Vista SA | 21.61 | ||||
| Latin America | |||||
| Consita Tratamento de Resíduos, S.A. ("Consita") | Brazil | 38.45 | |||
| Through ECB Suma Participações | (Belo Horizonte) | 38.45 | Construction and public works | ‐ | Dec‐14 |
| Construcciones dos Puertos S.A. de CV ("Construcciones dos Puertos") Through Mota‐Engil Mexico |
Mexico (Xalapa) |
70.00 70.00 |
Construction and public works | Jul ‐12 | ‐ |
| Consórcio Los Castãnos ("Consórcio Los Castãnos") | Peru | 100.00 | ‐ | ||
| Through Mota‐ Engil Peru | (Lima) | 100.00 | Construction of departments | Dec‐11 | |
| Consórcio Mota‐Engil Ojeda & Iju Paracas ("Consorcio ME Ojeda & Iju") | Peru | 100.00 | Construction of departments | Dec‐11 | ‐ |
| Through Mota‐ Engil Peru | (Lima) | 100.00 | |||
| Consórcio Fanning ("Consorcio Fanning") | Peru | 100.00 | Construction of departments | Dec‐11 | ‐ |
| Through Mota‐ Engil Peru | (Lima) | 100.00 | |||
| Consórcio Porta ("Consorcio Porta") Through Mota‐ Engil Peru |
Peru (Lima) |
100.00 100.00 |
Construction of departments | Dec‐11 | ‐ |
| Consórcio La Ponciana ("Consorcio La Ponciana") | Peru | 100.00 | ‐ | ||
| Through Mota‐ Engil Peru | (Lima) | 100.00 | Construction of departments | Dec‐11 | |
| Consórcio GDL Viaduto, S.A.P.I de CV ("Consórcio GDL Viaduto") | Mexico | 42.90 | Jun‐14 | ‐ | |
| Through Mota‐Engil Mexico | (Mexico City) | 42.90 | Construction and public works | ||
| Consórcio Túnel Guadalajara, SAPI de CV ("Consórcio GDL Túnel") | Mexico | 42.90 | ‐ | ||
| Through Mota‐Engil Mexico | (Mexico City) | 42.90 | Construction and public works | Jul ‐14 | |
| Consórcio Mota‐Engil Colombia ("Consórcio ME Colombia")* | Colombia | 38.06 | Construction and public works | Oct‐13 | ‐ |
| Through Mota‐Engil Colombia | (Buenaventura) | 38.06 | |||
| Empresa Construtora Brasil, S.A. ("Empresa Construtora Brasil") | Brazil | 50.00 | Construction and public works | Nov‐12 | ‐ |
| Through Mota‐Engil Brasil Participações, Ltda | (Belo Horizonte) | 50.00 | |||
| ECB Suma Participações, S.A. ("ECB Suma Participações") Through Empresa Construtora Brasil |
Brazil | 54.93 28.58 |
Management of financial holdings | Dec‐14 | ‐ |
| Through Suma | (Belo Horizonte) | 26.35 | |||
| Flame Investments, B.V. ("Flame Investments") | Netherlands | 51.00 | Mar‐15 | ‐ | |
| Through Mota‐Engil Latin America BV | (Amesterdam) | 51.00 | Management of financial holdings | ||
| Fideicomiso el Capomo ("Fideicomiso el Capomo") | Mexico | 51.00 | Real Estate and Tourism | Jul ‐15 | ‐ |
| Through Mota‐Engil Turismo operacional | (Mexico City) | 51.00 | |||
| Generadora Fenix ("Generadora Fenix") Through ME Energia operacional |
Mexico (Mexico City) |
46.41 46.41 |
Energy Production | Sep‐15 | ‐ |
| Mota‐Engil Energy B.V. ("Mota‐Engil Energy BV") | Netherlands | 51.00 | Sep‐15 | ‐ | |
| Through Flame Investments | (Amesterdam) | 51.00 | Finance and consulting | ||
| MEBR Construções, Consultoria e Participações, S.A. ("MEBR") | 100.00 | Mar‐11 | ‐ | ||
| Through Mota‐Engil Latin America BV | Brazil (São Paulo) |
57.69 | Construction and public works | ||
| Through Mota‐Engil Latam Peru | 42.31 |
| Designation | Headquarters | Effective holding percentage |
Activity | Set up date | Acquisition date |
|---|---|---|---|---|---|
| ME Energy Holding ("ME Energy Holding ") Through Mota‐Engil Energy BV |
Netherlands (Amesterdam) |
50.99 50.99 |
Management of financial holdings | Nov‐98 | ‐ |
| Mota‐Engil Latin America BV ("ME Latin America") Through Mota‐Engil SGPS |
Netherlands (Amesterdam) |
100.00 100.00 |
Management of financial holdings | Nov‐98 | ‐ |
| Mota‐Engil Latam Peru ("Mota‐Engil Latam Peru") Through Mota‐Engil Latin America BV Through Mota‐Engil Engenharia e Construção |
Peru (Lima) |
100.00 99.90 0.10 |
Management of financial holdings | Dec‐15 | ‐ |
| Mota‐Engil América Latina S.A.P.I. de C.V. ("Mota‐Engil América Latina") Through Mota‐Engil SGPS Through Mota‐Engil Latin America BV |
Mexico (Mexico City) |
100.00 0.02 99.98 |
Management of financial holdings | Nov‐13 | May‐14 |
| Mota‐Engil Colombia, S.A.S ("Mota‐Engil Colombia") Through Mota‐Engil Latam Peru |
Colombia (Bogotá) |
100.00 100.00 |
Construction and public works | Feb‐11 | ‐ |
| Mota‐Engil Col, S.A.S ("Mota‐Engil Col") Through Mota‐Engil Engenharia e Construção Through Mota‐Engil Peru |
Colombia (Bogotá) |
100.00 99.00 1.00 |
Construction and public works | ‐ | ‐ |
| ME Energia operacional ("ME Energia operacional") Through Mota‐Engil Energy Holding Through Mota‐Engil América Latina SAPI de CV |
Mexico (Mexico City) |
51.00 51.00 0.00 |
Development and energy production operation |
Sep‐15 | ‐ |
| Mota‐Engil Latam Portugal, S.A.("Mota‐Engil Latam Portugal") Through Mota‐Engil Latin America BV |
Portugal (Porto) |
100.00 100.00 |
Management of financial holdings | Jul ‐15 | ‐ |
| Mota‐Engil Energia Peru S.A. ("Mota‐Engil Energia Peru") Through Mota‐Engil Peru Through Mota‐Engil Engenharia e Construção |
Peru (Lima) |
100.00 99.98 0.02 |
Other business activities | May‐11 | ‐ |
| Mota‐Engil Tourism, B.V.("Mota‐Engil Tourism BV") Through Flame Investments |
Netherlands (Amesterdam) |
51.00 51.00 |
Management of financial holdings | Sep‐15 | ‐ |
| Mota‐Engil Mexico, S.A. de C.V. ("Mota‐Engil Mexico") Through Mota‐Engil Latin America BV Through Mota‐Engil América Latina SAPI Through da Mota Internacional |
Mexico (Mexico City) |
51.00 19.18 31.82 0.00 |
Construction and public works | Jan‐10 | ‐ |
| Mota‐Engil Turismo, S.A. de CV ("Mota‐Engil Turismo operacional") Through Mota‐Engil Turismo Holding Through Mota‐Engil América Latina SAPI de CV |
Mexico (Mexico City) |
51.00 51.00 0.00 |
Real Estate and Tourism | Feb‐15 | ‐ |
| Mota‐Engil Turismo Holding, S.A.P.I. de C.V. ("Mota‐Engil Turismo Holding") Through Mota‐Engil Mexico |
Mexico (Mexico City) |
51.00 0.01 |
Management of financial holdings | Jun‐15 | ‐ |
| Through Mota‐Engil Tourism BV Mota‐Engil Peru, S.A. ("Mota‐Engil Peru") Through Mota‐Engil Latin America BV Through Mota‐Engil Engenharia e Construção |
Peru (Lima) |
50.99 100.00 99.90 0.10 |
Construction and public works | Sep‐86 | ‐ |
| Mota‐Engil Prodi S.A.P.I. de C.V. ("Mota‐Engil Prodi") Through Mota‐Engil Mexico |
Mexico (Mexico City) |
50.10 50.10 |
Construction and public works | Feb‐14 | ‐ |
| Mota‐Engil Chile S.A. ("Mota‐Engil Chile") Through Mota‐ Engil Latam Portugal Through Mota‐ Engil Engenharia e Construção |
Chile (Santiago) |
100.00 99.00 1.00 |
Construction and public works | Feb‐13 | ‐ |
| Promotora Inmobiliaria Santa Clara, S.A. ("Santa Clara") Through Mota‐ Engil Peru |
Peru (Lima) |
100.00 100.00 |
Property promotion services | May‐12 | ‐ |
| Rentaco Peru, S.A. ("Rentaco Peru") Through Mota‐Engil Peru Through Mota‐Engil Energia Peru |
Peru (Lima) |
100.00 99.90 0.10 |
Generation and distribution of electric energy |
Feb‐13 | ‐ |
| 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 | ‐ |
| Mota‐Engil Peru‐ Ambiente, S.A. ("Mota‐Engil Peru Ambiente") Through Mota‐Engil Engenharia e Construção Through Mota‐Engil Peru |
Peru (Lima) |
100.00 99.98 0.02 |
Exploitation of terminals | ‐ | ‐ |
| Tracevia do Brazil ‐Sistemas de Telemática Rodoviaria Ltda. ("Tracevia Brazil") Through MEBR Engenharia, Consultoria e Participações, Ltda. |
Brazil (São Paulo) |
99.99 99.99 |
Design, installation, development and maintenance of ITS |
Mar‐11 | ‐ |
The companies included in the consolidation using the equity method, their headquarters and effective holding percentage as at June 30, 2016, are as follows:
| Designation | Headquarters | Effective holding percentage |
|---|---|---|
| Parent Company of the Group and related activities | ||
| Nortenha Angola, SGPS, S.A. ("Nortenha") | Portugal | 29.99 |
| Riscos e Diâmetros Angola, SGPS, S.A. ("Riscos e Diâmetros Angola") | Portugal | 30.10 |
| SMGT Angola, SGPS, SA ("SMGT") | Portugal | 29.99 |
| Sangobiar Perú, S.A. ("Sangobiar") | Peru | 29.99 |
| Vitropor Moçambique, SGPS, S.A. ("Vitropor Moçambique") | Portugal | 30.10 |
| Sunviauto Internacional, SGPS, S.A. ("Sunviauto Internacional") | Portugal | 29.99 |
| Europe ‐ Engineering and Construction | ||
| M‐Invest Slovakia Mierova , s.r.o. ("Mierova") | Slovakia | 50.00 |
| Ibercargo Rail, S.A. ("Ibercargo") | Spain | 50.00 |
| Europe ‐ Environment and Services | ||
| Ambilital – Investimentos Ambientais no Alentejo, EIM. ("Ambilital") | Portugal | 30.14 |
| 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. Edi fício do Hospital da Ilha Terceira, S.A. ("Haçor") | Portugal | 40.00 |
| HL ‐ Sociedade Gestora do Edifício, S.A. ("HL ‐ Sociedade Gestora do Edifício") | Portugal | 50.00 |
| Logz ‐ Atlantic Hub, S.A. ("Logz") | Portugal | 30.00 |
| Manvia II Condutas, Lda. ("Manvia II Condutas") | Portugal | 45.00 |
| Manvia Condutas Moçambique, Lda. ("Manvia Condutas Moçambique") | Mozambique | 47.25 |
| AGS, Manvia e Indaqua, ACE ("GESAR (ACE Manvia)") | Portugal | 32.40 |
| Africa | ||
| Automatriz, S.A. ("Automatriz") | Angola | 44.87 |
| Icer – Indústria de Cerâmica, Lda. ("Icer") | Angola | 25.42 |
| Mebisa ‐ Minerais e Bri tagens, S.A. ("Mebisa") | Angola | 15.25 |
| Vista Power, Lda. ("Vista Power") | Angola | 25.42 |
| Latin America | ||
| Autopista Urbana Siervo de la Nacion, SAPI de CV ("Autopista Siervo de la Nacion") | Mexico | 17.00 |
| Concessionária Autopista Cardel‐Poza Rica SA de CV ("Concessionária Autopista Cardel") | Mexico | 40.00 |
| Concessionária Autopista Tuxpan‐Tampico SA de CV ("Concessionária Autopista Tuxpan‐Tampico") | Mexico | 17.03 |
| Construtora Tuxpan Tampico ("Construtora Tuxpan Tampico") | Mexico | 17.03 |
| Constructora Auto‐Pista Perote Xalapa, SA de CV ("Constructora Perote Xalapa") | Mexico | 25.50 |
| Constructora Concessionária Autopista Cardel ‐Poza Rica, S.A. de CV ("Constructora Cardel ‐Poza Rica") | Mexico | 20.40 |
| Constructora M&R, S.A. de C.V. ("Constructora M&R") | Mexico | 10.20 |
| Constructora Gran Canal SAPI de CV ("Construtora Gran Canal") | Mexico | 17.03 |
| Eco Innovacion Ambiental SAPI de CV ("Eco Innovacion") | Mexico | 17.85 |
| Gestion e Innovacion en Servicios Ambientales SA de CV ("GISA") | Mexico | 25.50 |
| M&R de Occidente SAPI de CV ("Concessionária M&R") | Mexico | 20.00 |
| Martifer Group | Portugal | 37.50 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.