BRIEF-Mota-Engil first quarter earnings fall more than expected

miércoles 20 de mayo de 2015 02:52 GYT
 

LISBON May 20 (Reuters) - Portugal's largest construction company, Mota-Engil announced late on Tuesday:

* First-quarter net profit falls 53.7 percent to 3.4 million euros ($3.8 million).

* EBITDA falls 13.5 percent to 65.46 million euros.

* Analysts on average expected net profit of 6 million and EBITDA of 77 million.

* Turnover fell 1 percent to 483.5 million euros due to drop in Africa, rose in Europe and Latin America.

* The lower activity in Africa, which is expected to be short-lived, was the main reason behind the earnings drop.

* The order book at the end of March 2015 further increased to 4.6 billion euros, of which approximately 3.6 billion euros outside of Europe.

* Net debt at end-March rose to 1.3 billion euros from 1.2 billion at end-2014, "comfortable" net debt-EBITDA ratio of 3.2 times.

Source text: (here) ($1 = 0.9027 euros)