Tecnovia closes 2022 with a turnover of 261 millions euros

Present in several markets and with more than 3500 employees, Tecnovia exceeded 260 million euros in turnover, showing a growth of 37.6% compared to the previous year.

Tecnovia recorded a consolidated turnover of 261 million euros during the financial year of 2022, which represents a growth of 37.6% compared to the same period of the previous year.

These results were due to the sustained growth in turnover in all the geographies where it operates, with emphasis on the contribution from the markets of Angola and the Autonomous Regions of Madeira and the Azores. The national market – mainland and islands, represented 71% of turnover, and the foreign market, Angola, Cape Verde and Bolivia, 29% of turnover.

Despite the generalized increase in energy, fuel and raw material costs, consolidated EBITDA was 45.6 million euros, resulting in a consolidated net result of around 24 million euros.

This significant increase in Tecnovia operating profitability was fundamentally due to the strategy of consolidating operations in the markets where it operates, despite the reduced margins and the poor sustainability of the continental national market. In this market, tenders for large projects present, from the outset, assumptions and values, which do not allow the majority of national companies to respond to the degradation of prices practiced by foreign competition.

Despite the huge shortage of labor available in the national market, the group increased the total number of effective employees, having ended the year with around 3500 employees. In 2023, Tecnovia intends to hire around 300 new employees, to meet the order book.

The focus on Africa has been one of the vectors of Tecnovia’s internationalization, which seeks opportunities that allow it to develop its activity in a sustained manner, with a view to starting, in the short term, the development of road infrastructure construction projects in Uganda and Republic Democratic Congo.

The group’s consolidated portfolio currently amounts to around 605 million euros, and it is expected that it will grow in the coming years.

 

Porto Salvo, July 30, 2023