Mota-Engil (EGL) investor relations material

Executive summary

• Turnover rose 6% year-over-year to €2.9 billion, with EBITDA up 10% to €487 million and a margin of 17%; net profit after minorities increased 24% to €74 million, achieving a 2.6% margin.

• Record backlog reached €17.7 billion by June, up 10% year-over-year, providing 3.7 years of execution visibility and supporting long-term growth.

• Free cash flow reached €159 million (33% of EBITDA), significantly above the Focus 2030 target of 25%.

• Liquidity position improved to €1.44 billion, up from €895 million in H1 2025.

• Strategic plan "Focus 2030" launched, emphasizing growth, diversification, and financial discipline.

Financial highlights

• Net debt stood at €1.99 billion (Net Debt/EBITDA: 1.94x), gross debt at €3.51 billion (Gross Debt/EBITDA: 3.43x), both within target thresholds.

• CapEx was €185 million (6.4% of turnover), mainly driven by industrial engineering and higher-margin segments.

• Financial CapEx for concessions totaled €81 million, primarily in Mexico and Lobito Corridor in Africa.

• Equity/assets ratio at 11%, reflecting a strengthened balance sheet.

• Dividend per share of €0.173 paid in May.

Outlook and guidance

• Double-digit turnover growth (10–15%) expected for 2026, driven by backlog conversion and ramp-up of large projects; EBITDA margin targeted at or above 17% and net profit margin at 3%.

• CapEx/turnover to remain around 7%, with continued focus on operational cash generation and disciplined capital allocation.

• Active concession portfolio management and new long-term platform development are strategic priorities.

• Strong operating cash generation and leverage discipline, targeting Net Debt/EBITDA below 2x.