Mota-Engil SGPS SA (EGL) aims to end this year with an order book exceeding the 3.5 billion euros ($4.58 billion) forecast for 2012 as it expands outside Portugal, said the new chief of the country’s biggest construction company.
“We will work for that,” Goncalo Martins, whose appointment as CEO of the Oporto-based company was announced on Jan. 7, said in an e-mailed response to questions.
Mota-Engil is among local builders expanding in emerging markets in Africa and Latin America as Portugal cuts spending to comply with terms of a 78 billion-euro emergency aid program. The company operates in about 20 countries.
“One of the pillars of Mota-Engil’s development is its internationalization and this will remain a priority goal for the group,” Martins said.
Mota-Engil forecasts sales will rise to 3.15 billion euros in 2015 from 2.18 billion euros in 2011 and that more than 70 percent of revenue will come from outside Portugal, according to its 2013-2015 strategic plan announced on Aug. 31.
While the main guidelines of the plan should remain, there is room for “adaptations” if new business opportunities arise, Martins said.
Mota-Engil isn’t looking to buy any companies this year after announcing on Nov. 25 that it agreed to acquire a majority stake in Empresa Construtora Brasil SA for 52.6 million reais ($25.8 million).
“Beyond the acquisition in Brazil, our strategic plan does not forecast acquisitions for 2013 and the group will bet on the organic growth of its existing units in each business and market,” Martins said.
To contact the reporter on this story: Henrique Almeida in Lisbon at firstname.lastname@example.org
To contact the editor responsible for this story: Jerrold Colten at email@example.com