Mota-Engil profits surge 24% as Meo reports mixed results

Portuguese construction firm Mota-Engil reported a 24% increase in net profit for the first half of 2026, reaching €74 million. The company achieved a record order backlog of €17.7 billion, driven by a strategic shift toward high-margin infrastructure projects in Africa and Latin America. Recent major contracts include a $1.8 billion railway extension in the Democratic Republic of the Congo and projects in Nigeria, Peru, and Mexico.

In the telecommunications sector, Meo reported a slight 0.3% increase in first-half revenue to €1.297 billion. However, EBITDA fell by 7.5% to €443 million, a decline attributed to intense market competition in the consumer segment and rising operational costs related to energy and infrastructure. Despite the EBITDA drop, the company increased its investment in infrastructure modernization by 3.3% to €202 million.