Teixeira Duarte, S.A. Announces Unaudited Consolidated Earnings Results for the First Quarter 2017; Provides Earnings Guidance for the Year 2017
May 29, 2017
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Teixeira Duarte, S.A. announced unaudited consolidated earnings results for the first quarter 2017. For the quarter, the company reported total of operating income was EUR 234,685,000 compared to EUR 297,365,000 a year ago. Operational income was EUR 28,022,000 compared to EUR 30,373,000 a year ago. Financial loss was EUR 27,407,000 compared to EUR 46,402,000 a year ago. Results before taxes were EUR 615,000 compared to loss of EUR 16,029,000 a year ago. Net loss attributable to equity holders was EUR 8,662,000 or EUR 0.02 basic and diluted per share compared to EUR 22,461,000 or EUR 0.05 basic and diluted per share a year ago. Cash flows of operational activities were EUR 64,569,000 compared to EUR 38,654,000 a year ago. Payments related to tangible fixed assets and investment properties were EUR 7,454,000 compared to EUR 7,786,000 a year ago. Payments related to Intangible assets was EUR 37,795,000 compared to EUR 87,000 a year ago. EBITDA was EUR 43 million compared to EUR 48 million a year ago. EBIT was EUR 28 million compared to EUR 30 million a year ago. Net debt was EUR 1,114 million compared to EUR 1,153 million a year ago.
For 2017, the company expects to achieve operating income of about EUR 1,200 million.
Teixeira Duarte, S.A. is one of the largest Portuguese economic groups. The group is organized in six different sectors such as Construction (63.5% of sales), Concessions and Services (10.7%), Retail (10.7%), Real Estate (7.1%), Hospitality (4.3%) and Automotive (3.7%).
Construction has been Teixeira Duarte Group's core business since its formation, as well as the activity of the principal company of the Group, Teixeira Duarte - Engenharia e Construções, S.A., which operates in the areas of Geotechnics and Rehabilitation, Buildings, Infrastructures, Mechanical Engineering, Underground Works, Railway Works and Maritime Works supported by a Shuttering and Prestressing Operating Centre, a large-scale and highly technological Equipment Department, a Materials Laboratory and a Teixeira Duarte Operating Centre installed on a plot of land covering an area of 127,000 m2 and which is of enormous benefit to the Company and services rendered to its customers.
Net sales are distributed geographically as follows: Portugal (34.2%), Brazil (25%), Angola (21.5%), Mozambique (4.1%), Spain (1.6%) and other (13.6%).