Teixeira Duarte, S.A. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2016
November 27, 2016
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Teixeira Duarte, S.A. reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2016. For the nine months, the company reported total of operating income of EUR 863,246,000 against EUR 1,038,409,000 a year ago. Operational Income was EUR 99,156,000 against EUR 67,109,000 a year ago. Results before taxes were EUR 2,266,000 against EUR 1,289,000 a year ago. Net loss attributable to equity holders was EUR 26,259,000 against net results attributable to equity holders of EUR 17,033,000 a year ago. Basic and diluted loss per share was EUR 0.06 against basic and diluted earnings per share of EUR 0.04 a year ago. Cash flow of operational activities was EUR 88,623,000 against EUR 176,250,000 a year ago. Payments for tangible fixed assets and investment properties was EUR 45,180,000 against EUR 52,713,000 a year ago. Payments for intangible assets was EUR 1,967,000 against EUR 859,000 a year ago.
For the quarter, the company reported total of operating income of EUR 273,177,000 against EUR 336,028,000 a year ago. Operational Income was EUR 34,247,000 against EUR 20,382,000 a year ago. Results before taxes were EUR 9,682,000 against loss before taxes of EUR 27,364,000 a year ago. Net results attributable to equity holders was EUR 9,518,000 against net loss attributable to equity holders of EUR 7,214,000 a year ago. Basic and diluted earnings per share was EUR 0.02 against basic and diluted loss per share of EUR 0.02 a year ago. Cash flow of operational activities was EUR 12,230,000 against EUR 27,763,000 a year ago. Payments for tangible fixed assets and investment properties was EUR 17,580,000 against EUR 20,129,000 a year ago. Payments for intangible assets was EUR 176,000 against EUR 133,000 a year ago.
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%).