DOCSLIB.ORG

Strategic Plan 2010-14 Presentation Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Strategic Plan 2010-14 Presentation Contents STRATEGIC PLAN 2010-14 PRESENTATION CONTENTS Why a new Strategic Plan?... New Context, New Challenges, Ambitious Answers Wrap-up Q&A 2 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because Soares da Costa has moved forward… • Since the presentation of 2007-12 “Sustainable Ambition” plan, SDC’s profile has changed significantly, with a considerable investment in the transport concessions business and becoming increasingly more international, entering in new markets • We would highlight some details of the 2007-12 strategic plan: With the domestic market with On geographical diversification: “Three core markets with a gloomier than ever prospects, physical presence founded on construction – Portugal, now is the time for choosing a Angola and the USA (Florida) – complemented by a new new platform platform for growth to be selected in the next few years” Still makes some sense the On the concession business: “Prepare the ground for diversification, although the deep diversification/deepening of concessions from 2010 onwards, changes in the financial markets developing competences in: infrastructure management lead to the need of a new model services – motorways / buildings, renewable energy sources” of investment/ partnerships On dividend policy: “(...) will enable dividends distribution Which has been achieved in spite from 2009 onwards” of the investment programme 3 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because Soares da Costa has moved forward… • SDC has experienced a significant growth, both in terms of turnover and EBITDA TURNOVER EBITDA CAGR CAGR 14.0%% 18.9%% 936 86 90 835 57 25.6% 8.2% 54 53 55 554 562 551 570 45 529 CONSTRUCTION 37 22 36 322 & OTHERS OTHERS 416 367 1) 1) 1) 33 35 11.1% 27.6% CONCESSIONS 23 18 20 305 366 ANGOLA 195 228 138 20051) 20061) 20071) 2008 2009 2005 2006 2007 2008 2009 EBITDA MG 4% 6% 7% 10% 9% EBITDA MG 90% 83% 80% 69% 62% CONCESSIONS 1) Equivalent integration of 20% of Scutvias 4 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because Soares da Costa has moved forward… • ROCE has been improving since 2007, almost reaching 5.0%, although still slightly below the 5.5-6.5% defined as target NET INCOME ROCE 6.6% 12.0 11.5 4.8% Average = 4.7% 8.2 4.6% 4.2% 5.8 1.3% 0.4 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 5 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because Soares da Costa has moved forward… • Given SDC’s good evolution, “Sustainable Ambition” plan targets become less challenging: in 2009 the group’s performance not only surpassed that year’s target but also got very close the 2010’s planned figures TURNOVER EBITDA Margin 9.9% 9.0% 10.7% 11.9% 1,039 124 936 932 99 801 +17% 90 79 +13% 2009 2009 2010 E 2012 E 2009 2009 2010 E 2012 E Plan Real Plan Plan Real Plan 6 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because Soares da Costa has moved forward… • Though some challenges exist: LARGEST IBERIAN CONSTRUCTION INTERNATIONAL TURNOVER (%) MAIN NON-DOMESTIC MARKET (%) GROUPS’ INTERNATIONALISATION Market 26% n.a. PROFILE (2009) n.a. 44% 36% Europe SDC has a high internationalization level, 65% 55% Europe surpassing the sector’s benchmark, 24% 14% Europe though geographical portfolio could be 19% 14% Europe more balanced, with a lower degree of East Europe dependence Angolan market 59% 12% 29% 14% East europe 61% 51% Africa 48% 38% Africa 44% 27% Africa 20% 14% Europe (Spain) 40% Source: Companies’ reports, Roland Berger Strategy Consultants 7 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because Soares da Costa has moved forward… • Though some challenges exist: LARGEST IBERIAN CONSTRUCTION GROUPS’ TURNOVER NON EBITDA NON BUSINESS DIVERSIFICATION PROFILE (2009) CONSTRUCTION (%) CONSTRUCTION (%) SDC has achieved some diversification of its 61% 69% business with the transport concession segment, 43% 72% though, compared with its peers, non- 63% 91% construction segment contribution could be more significant 45% 80% 55% 61% 22% 63% 21% 56% 45% 69% 12% 40% 19% 71% Source: Companies’ reports, Roland Berger Strategy Consultants 39% 67% 8 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because Soares da Costa has moved forward… • Though some challenges exist: LARGEST IBERIAN CONSTRUCTION NET DEBT TO EBITDA (2009) Growth path and market 10.6 9.5 conditions (namely in terms of 8.8 7.5 7.5 working capital needs) has led to 7.0 6.4 7.5 a increase in the indebtness level, 5.2 with a deterioration of the net 4.6 debt to EBITDA ratio. Recourse net debt to EBITDA ratio is significantly above its peers LARGEST IBERIAN CONSTRUCTION RECOURSE NET DEBT TO EBITDA (2008) 8.1x (2009) 7.3 6.9 5.5 Average: 4.4x 3.7 2.7 2.3 2.0 Source: Companies’ reports, Roland Berger Strategy Consultants 9 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because the world has changed… MAIN CHANGES IN THE CONSTRUCTION SECTOR ACTIVITY / OPERATIONAL FINANCING • Strong slowdown of the Iberian • Maior dificuldade no acesso a construction market, with very pressured financiamento, restringindo por exemplo margins and weak recovery prospects. investimentos em negócios mais intensivos Government budget restrains have led to em capital. severe cuts in the infrastructure plans. • Increasing spreads for the same level of nd Private/ residential investment (2 risk. housing, etc) has also suffered a decline. • Pressure over the construction • Growth opportunities concentrated in companies to reduce their indebtness Latin America and African countries with level, namely via assets’ alienation/ sale. very positive outlook in terms of investment in construction and • Increase in the number of investment infrastructures. funds acquiring the construction company’s stakes in infrastructures • In mature markets, the new concessions concessions. return are on the limit of value creation. 10 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because the world has changed… MAIN CHANGES IN THE CONSTRUCTION SECTOR PORTUGUESE CONSTRUCTION OUTPUT EVOLUTION (2000-12E, € bn, base 100) 100.0 100.3 Base 100 93.0 91.3 90.8 85.9 85.5 Previous 85.0 Estimate 31,3 80.0 30,7 30,7 75.2 76.0 28,5 28,0 27,8 69.0 26,3 26,2 Public Works 7,5 8,1 7,9 26,1 65.9 Financial crisis 23,6 62.5 7,5 7,8 7,4 impact estimate 6,9 6,9 21,3 7,1 20,2 Non 19,2 Residential 5.8 6.2 6.6 7,3 6.8 6.5 6.0 7,4 5.8 6.1 6,4 7,0 6,7 6.3 6.1 5.8 5.5 Residential 17.3 17.1 16.3 14.2 13.7 14.4 13.6 13.2 12.6 10.0 7.8 7.4 7.1 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010E 2011E 2012E Source: Euroconstruct; Roland Berger Strategy Consultants 11 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... So WHY A NEW STRATEGIC PLAN?... .... BECAUSE SOARES DA COSTA MUST ANSWER TO NEW QUESTIONS: 1. How to continue in a sustainable growth path, but defending and even improving profitability and shareholders' remuneration? 2. How to continue to have access to the necessary financing that allow the company to invest in the current financial markets context? 12 STRATEGIC PLAN 2010-14 PRESENTATION NEW CONTEXT, NEW CHALLENGES, AMBITIOUS ANSWERS SEEKING FOR GROWTH AND PROFITABILITY… 5 MAIN CHALLENGES: • Very weak domestic construction and transport concession markets prospects • Angolan construction sector growth pace slowdown, with increasing margin pressure (although still above the margins achieved domestically) • Attractive growth prospects in the construction market only in emergent countries, namely in some Latin American and African countries • Attractive growth prospects in some segments of the US market, namely in the PPP and in the renewable energy segments • More restrictive and expensive financing with a growing pressure to reduce indebtness levels and improve return on capital 13 STRATEGIC PLAN 2010-14 PRESENTATION NEW CONTEXT, NEW CHALLENGES, AMBITIOUS ANSWERS SDC’s ANSWERS take the form of a NEW STRATEGIC PLAN • Very weak domestic construction and 1. Diversify to the Environment and concession markets prospects Renewable Energy sectors • Angolan construction sector growth 2. Enter the Brazilian construction market pace slowdown, increasing margin pressure but opportunities in other segments 3. Open SDC Angola’s capital to a local partner, reducing exposure to the Angolan construction, diversify to other segments • Attractive growth prospects in the construction market only in emergent countries 4. Increase exposure to the US market: construction, PPPs, renewable energy • Attractive growth prospects in some segments of the US market, namely in 5. Explore construction and concessions the PPP and in the renewable energy opportunities in other countries (other segments African countries, Latam countries) • More restrictive and expensive 6. Alienate non core and/ or mature assets financing 14 STRATEGIC PLAN 2010-14 PRESENTATION NEW CONTEXT, NEW CHALLENGES, AMBITIOUS ANSWERS 1. Diversify to the Environment and Renewable Energy sectors DIVERSIFICATION SECTORIAL SECTORIAL 2. Enter the Brazilian 3. Open SDC Angola’s capital to a construction market local partner, reducing exposure to the Angolan construction, diversify to other segments GEOGRAPHICAL GEOGRAPHICAL DIVERSIFICATION 4. Increase exposure to the 5. Explore construction and US market: construction, concessions opportunities in PPPs, renewable energy other countries 6. Alienate non core and/ or mature assets MAIN GOALS: Sustainable Growth | Improve Profitability | Reduce Indebtness Level 15 STRATEGIC PLAN 2010-14 PRESENTATION NEW CONTEXT, NEW CHALLENGES, AMBITIOUS ANSWERS 1. Diversify to the Environment and Renewable Energy sectors Why enter in these sectors? The Renewables, waste and water have a ..
Load more

Recommended publications
  • The Top 225 Global Contractors
    The Top 225 International Contractors The Top 225 Global Contractors August 18, 2008 This annual issue ranks the 225 largest construction contracting firms from around the world. It also ranks the largest firms in a wide variety of market sectors and geographic markets: Building, Manufacturing, Power, Water, Industrial/Petroleum, Transportation, Hazardous Waste, Sewer/Waste and Telecommunications. In addition, readers will get insights from executives of these top firms about the markets and issues affecting the industry around the world. This and other ENR survey issues are used as reference tools throughout the industry. Companies are ranked according to construction revenue generated in 2007 in US$ millions. Main story: "Prices Soar in a Boom Market" Tables - The 2008 Top 225 International Contractors based on Contracting Revenue from Projects Outside Home Country (with description about how to use the tables) - The 2008 Top 225 Global Contractors based on Total Firm Contracting Revenue (with descriptions about how to use the tables) - The 2008 Top 225 At a Glance: Volume, Profitability, Professional Staff, Backlog, Market Analysis, International Regions - Top 10 by Market: Building, Manufacturing, Power, Water, Transportation, Hazardous Waste, Sewer/Waste, Telecommunications - Top 20 Non-US Firms in International Construction Management/Program Management Fees - Top 20 Non-US in Total CM/PM Fees - Top 10 By Region: Middle East, Asia, Africa, Latin America/Caribbean, Europe, U.S., Canada - How the Top 225 International Contractors Shared the 2007 Market - Where to Find The Top 225 International Contractors - Where to Find The Top 225 Global Contractors Web Only Supplements: "Subsidiaries By Rank"-includes in-depth listings of each firm's subsidiaries "Where the 2008 Top 225 Contractors Worked"-lists the countries in which these firms had work or offices during 2007.
    [Show full text]
  • Donas Da Terra. Her-Story on Female Power and Authority in the Zambezi Valley, Mozambique
    ! ECAS 2013 5th European Conference on African Studies African Dynamics in a Multipolar World ©2014 Centro de Estudos Internacionais do Instituto Universitário de Lisboa (ISCTE-IUL) ISBN: 978-989-732-364-5 DONAS DA TERRA. HER-STORY ON FEMALE POWER AND AUTHORITY IN THE ZAMBEZI VALLEY, MOZAMBIQUE Carmeliza Soares da Costa Rosário University of Bergen [email protected] Donas da Terra. her-story on female power and authority in the Zambezi Valley, Mozambique! ! Abstract The Zambezi Valley, in Mozambique has been considered a sociological construct, more than geographical space. Portuguese colonial rule over this area, enacted initially from Goa, instituted the prazo system which was a system by which Crown land was leased to settlers for a fixed period. To attract more settlers, some prazos were given as dowry to girls who married Portuguese vassals; to be inherited through the female line, for at least three generations. These women became known as the Donas. Indigenous women in the region were also reportedly powerful and had administrative authority. Among the Maravi, the wife of the karonga had jurisdiction over part of the territory. Female chiefs were also reported to have existed. Among the Shona, the wives of the mutapa had their own territory and at times served as ambassadors of the empire. Despite their notoriety, historical texts mention these women marginally or as surrogates to male dominance. This is not a coincidence, but stems from a male perception of female roles. By constructing a text which generally ignores women’s role in history or relegates it to a secondary plane by comparison to their male counterparts, historians may have not made justice to the social, political and economic structures and inner workings of the Zambezi Valley complex, to borrow Mathews (1981) term.
    [Show full text]
  • Mota-Engil M&A Report 03.01.10
    A Work Project, presented as part of requirements for the Award of a Masters Degree in Finance from the Faculdade de Economia da Universidade Nova de Lisboa M&A Field Lab Mota-Engil Fábio Araújo Michelli, Master in Finance, #160 A Project carried out on the Master in Finance, with the supervision of: Rosário André 06.01.2010 Mota-Engil M&A Proposal Index Executive Summary ............................................................................................................................. 3 Mota-Engil Overview ............................................................................................................................ 4 Business Portfolio ............................................................................................................................ 4 Strategic Plan ................................................................................................................................... 6 Financial Position ........................................................................................................................... 10 Industry Analysis ................................................................................................................................ 11 Construction ................................................................................................................................... 11 Environment & Services ................................................................................................................ 13 Water & Sewage ......................................................................................................................
    [Show full text]
  • Global Construction Sourcebook December, 2006
    Global Construction Sourcebook December, 2006 This annual edition provides editorial overviews, outlooks and rankings of the Top International Contractors and Design Firms in 7 regional markets and market analyses in 8 major industry sectors. This Sourcebook also ranks general contractors and design firms in approximately 50 specific project types such as healthcare, highways and pharmaceuticals. Plus, this publication includes photographs and the Directory of Contractors and Design Firms, a country-by-country listing containing the address, name of the president or CEO, and telephone number of each of the Top International Contractors and Design Firms. CONTENTS TABLES: The Top 200 International Design Firms The Top 150 Global Design Firms The Top 225 International Contractors The Top 225 Global Contractors The 2006 Top 225 International Contractors at a Glance The 2006 Top 200 International Design Firms at a Glance Directory of Contractors and Design Firms FEATURE: General Building Transportation Manufacturing/Industrial Process Petroleum Power Environmental Telecommunications Editorial Overview By Gary J. Tulacz and Peter Reina Global Markets Surge On Amid War, High Oil Prices The Top Prosperity is expanding the borders of the world construction market. The North American market boom has 225225 been well documented, but the Mid- dle East now is growing despite re- International gional tensions, thanks to the upswing Contractors in oil prices. Asia has been holding steady at a high level of activ- management,” says Kev- P The ity. The huge European market, which largely has been static, in Thompson, CEO. Top 200 is showing signs of recovery, led by eastern European work. And He says that the Latin America also is stirring, thanks to rising prices for copper skills and innov- International and other commodities, which has mining work flourishing.
    [Show full text]
  • Intertwined Paths: Portugal and Rising Angola
    OCCASIONAL PAPER NO 89 South African Foreign Policy and African Drivers Programme August 2011 Intertwined Paths: Portugal and Rising Angola Pedro Seabra & Paulo Gorjão s ir a f f A l a n o ti a rn e nt f I o te tu sti n In rica . th Af hts Sou sig al in Glob African perspectives. About SAIIA The South African Institute of International Affairs (SAIIA) has a long and proud record as South Africa’s premier research institute on international issues. It is an independent, non-government think-tank whose key strategic objectives are to make effective input into public policy, and to encourage wider and more informed debate on international affairs with particular emphasis on African issues and concerns. It is both a centre for research excellence and a home for stimulating public engagement. SAIIA’s occasional papers present topical, incisive analyses, offering a variety of perspectives on key policy issues in Africa and beyond. Core public policy research themes covered by SAIIA include good governance and democracy; economic policymaking; international security and peace; and new global challenges such as food security, global governance reform and the environment. Please consult our website www.saiia.org.za for further information about SAIIA’s work. A b o u t t h e S o u t h A f r I c A n f o r e I g n p o l I c y A n d A f r I c A n d r I v e r S p r o g r A m m e Since the fall of apartheid in 1994, South Africa’s foreign policy has prioritised the development of Africa.
    [Show full text]
  • Acknowledgments
    206 DOING BUSINESS IN THE ARAB WORLD 2010 Acknowledgments Doing Business 2011 was prepared by a The Doing Business team is grateful for team led by Sylvia Solf, Penelope Brook valuable comments provided by col- (through May 2010) and Neil Gregory (from leagues across the World Bank Group June 2010) under the general direction and for the guidance of World Bank of Janamitra Devan. The team comprised Group Executive Directors. Svetlana Bagaudinova, Jose Becerra Marta, Karim O. Belayachi, Frederic Bustelo, César Oliver Hart and Andrei Shleifer provided Chaparro Yedro, Maya Choueiri, Santiago academic advice on the project. The pay- Croci Downes, Karen Sarah Cuttaree, Marie ing taxes project was conducted in collab- Contact details for local partners Delion, Allen Dennis, Jacqueline den Otter, oration with PricewaterhouseCoopers, led are available on the Doing Raian Divanbeigi, Alejandro Espinosa- by Robert Morris. The development of the Business website at Wang, Antonio Garcia Cueto, Carolin getting electricity indicators was financed Geginat, Cemile Hacibeyoglu, Betina by the Norwegian Trust Fund. http://www.doingbusiness.org Hennig, Sabine Hertveldt, Mikiko Imai Ollison, Ludmila Januan, Nan Jiang, Palarp Alison Strong copyedited the manuscript. Jumpasut, Dahlia Khalifa, Eugenia Levine, Gerry Quinn designed the report and Jean Michel Lobet, Valerie Marechal, the graphs. Alexandra Quinn and Karen Andres Martinez, Frederic Meunier, Jackson provided desktopping services. Alexandra Mincu, Robert Murillo, Joanna Nasr, Titilayo Oke, Oleksandr Olshanskyy, The report was made possible by the gen- Dana Omran, Caroline Otonglo, Yara Salem, erous contributions of more than 8,200 Pilar Salgado-Otónel, Jayashree Srinivasan, lawyers, accountants, judges, business- Susanne Szymanski, Tea Trumbic, Marina people and public officials in 183 econo- Turlakova and Lior Ziv.
    [Show full text]
  • General Assembly Distr.: General 25 October 2012
    United Nations A/C.5/67/INF/1 General Assembly Distr.: General 25 October 2012 English/French only Sixty-seventh session Fifth Committee Membership of the Fifth Committee Membres de la Cinquième Commission NOTE: Delegations are requested to send their corrections to the following list, in writing, to the Secretary of the Committee, Secretariat Building, Room S-3241, fax: 212 963 0360. NOTE: Les délégations sont priées d’envoyer leurs corrections à la présente liste, par écrit, au Secrétaire de la Commission, bureau S-3241, bâtiment du Secrétariat, télécopieur: 212 963 0360. Chair Président Mr. Miguel BERGER (Germany) Vice-Chairs Vice-présidents Mr. João Augusto Costa VARGAS Ms. Anna REICH Mr. Bilal Taher Muhammad WILSON (Brazil) (Hungary) (Saudi Arabia) Rapporteur Mr. Justin KISOKA (United Republic of Tanzania) Secretariat of the Fifth Committee Secrétariat de la Cinquième Commission Secretary Secrétaire Ms. Sharon VAN BUERLE Deputy Secretary Secrétaire Adjoint Mr. Wiryanto SUMITRO 12-56834 (E) 011112 *1256834* A/C.5/67/INF/1 COUNTRY | PAYS REPRESENTATIVE | REPRESENTANT ALTERNATES | SUPPLÉANTS ADVISERS | CONSEILLERS Mr. Zahir TANIN Mr. Seddiqullah HABIBI Afghanistan Mr. Mohammad Qais RAHIMI Albania Mr. Mourad BENMEHIDI Mr. Djamel MOKTEFI Mr. Abdelhakim MIHOUBI Algeria Mr. Mohamed Salah Eddine BELAID Ms. Gemma RADUAN Ms. Laura CONTRERAS Andorra CORRIUS Angola Antigua and Mr. Conrod HUNTE Barbuda Argentina Armenia Mr. Garen NAZARIAN Mr. Nikolay SAHAKOV Mr. Gary Francis QUINLAN Mr. Will NANKERVIS Ms. Phillipa Lucy WALKER Ms. Philippa Jane KING Group Captain Brian James Ms. Carmendy COOPER WALSH Australia Mr. Terry NUNN Mr. Emil STOJANOVSKI Squadron Leader Rodney SRINIVASAN Ms. Maria Angela Ms. Doris PUNDY Austria HOLZMANN Mr.
    [Show full text]
  • International Contractors
    [ FEATURE ] Top 225 Overview By Peter Reina and Gary J. Tulacz LIGHT AT END OF THE TUNNEL? Strabag AG’s 5.2-mile Blessberg high- speed-rail tunnel project in Germany shows how infrastructure jobs counter a THE soft European market. TOP 225 INTERNATIONAL CONTRACTORS The overall global construction The global construction market has taken market continues to be soft as its lumps over the past two years, and many large interna- investment capital is hard to come by, but there are bright tional contractors are scrambling to maintain their size. spots both geographically and However, as the slump grows in duration, a few things are in market sectors becoming clear: The construction recession is not univer- sal, there are regions and market sectors that are doing well, and many international contractors are thriving. OF STRABAG SE PHOTO COURTESY 44 N ENR N August 30, 2010 enr.com The responses to ENR’s Top 225 Inter- THE TOP 225 AT A GLANCE national Contractors survey tell an interest- ing tale. As a group, the ENR Top 225 gen- VOLUME MARKET ANALYSIS erated $383.78 billion in revenue from DOMESTIC INTERNATIONAL TOTAL REVENUE PERCENT projects outside their home countries in $ BIL. % CHG. $ BIL. % CHG. $ BIL. % CHG. TYPE OF WORK $ MIL. OF TOTAL 2009, up 0.4% from $382.44 billion in 2008 REVENUE 621.8 +8.2 383.8 +0.4 1,005.6 +4.2 BUILDING 85,988.3 22.4 (please note, this is a corrected figure from NEW CONTRACTS 766.3 +14.4 484.6 +7.4 1,250.8 +11.6 MANUFACTURING 3,805.6 1.0 INDUSTRIAL 20,601.5 5.4 last year’s published results).
    [Show full text]
  • Mota-Engil: New Prospects of Growth: Overcoming the Financial Crisis
    1 Mota-Engil: New prospects of growth: overcoming the financial crisis A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics. MOTA-ENGIL New prospects of growth: Overcoming the financial crisis Nuno Guilherme Dantas Melim 1428 A Project carried out on the Strategy Area, under the supervision of: Professor Doutor José Álvaro Ferreira da Silva 30th May 2014 1 2 Mota-Engil: New prospects of growth: overcoming the financial crisis Abstract The 2008 global financial crisis caused the collapse of business key sectors, declines in consumer wealth and a fall in economic activity resulting in a global recession. In some European countries, the 2008 crisis contributed to a sovereign-debt crisis which had a strong impact in Southern European countries. The construction sector was particularly affected, with budget cuts disturbing public investment and no financing available for private constructors. This report intends to explain how Mota-Engil, faced this situation of low growth, and which strategies were adopted by the management to overcome the difficult economic conjecture, mainly in its domestic market: Portugal. The report is organized as a case-study. The first part, the case narrative, is sub- divided into 6 parts, and the second part is the teaching note. The teaching note is constituted by the four questions and their respective responses. Keywords: Construction, Mota-Engil, Financial crisis, diversification, internationalization 2 3 Mota-Engil: New prospects of growth: overcoming the financial crisis I. Case Narrative 1. A family firm over 7 decades Mota-Engil (ME) is a Portuguese multinational company with presence in Europe, Africa and Latin America.
    [Show full text]
  • Report & Accounts
    Grupo Soares da Costa, SGPS, SA REPORT & ACCOUNTS 2013 REPORT & ACCOUNTS 2013 ◊ GRUPO SOARES DA COSTA, SGPS, SA INDEX MESSAGE from the Chairman of the Board of Directors and Chairman of the Executive Committee 4 I MANAGEMENT REPORT Highlights 7 Introduction 8 1. The Soares da Costa Group 1.1 Profile 9 1.2 Strategy 14 2. Business Overview 15 3. Relevant Facts for the Year 20 4. Consolidated Business Analysis 22 5. Performance By Business Area 5.1 Construction 25 5.2 Concession 33 5.3 Real Estate 42 5.4 Self Energy 42 6. Individual Accounts 44 7. Human Resources 44 8. Main Risks and Uncertainties 46 9. Soares da Costa and the Stock Exchange 49 10. Order Backlog and Outlook 51 11. Subsequent Facts 55 12. Proposal for the Application of Profits 56 13. Declaration of Compliance 56 14. Final Note of Thanks 57 2 ◊ REPORT & ACCOUNTS 2013 ◊ GRUPO SOARES DA COSTA, SGPS, SA II ANNEXES TO THE MANAGEMENT REPORT 1. Shareholdings and Transactions of Members of the Corporate Bodies and of Officers 59 2. List of Owners of Qualified Shareholdings 59 3. Corporate Governance Report 60 4. Corporate Social Responsibility Report 84 III INDIVIDUAL FINANCIAL STATEMENTS AND EXPLANATORY NOTES 101 IV CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES 137 V CERTIFICATIONS AND OPINIONS 237 3 ◊ REPORT & ACCOUNTS 2013 ◊ GRUPO SOARES DA COSTA, SGPS, SA MESSAGE from the CHAIRMAN OF THE BOARD OF Directors and CHAIRMAN OF THE Executive COMMITTEE The year 2013 marked a very significant milestone for the Soares da Costa Group. The very difficult financial situation of the Group, which became more acute in 2012 and 2013 due to the drastic fall in the domestic construction market, meant that an action plan had to be defined to launch its recovery.
    [Show full text]
  • Soares Da Costa Construção, Sgps, Sa
    SOARES DA COSTA CONSTRUÇÃO, SGPS, SA Apresentação Institucional 7.1.2015 SOARES DA COSTA CONSTRUÇÃO ÍNDICE PERFIL 3 ATIVIDADE 4 EXPERIÊNCIA E HISTÓRIA 9 MULTINACIONAL 11 DIMENSÃO 12 CAPITAL HUMANO 14 CONTACTOS 16 ANEXO: PORTFÓLIO SOARES DA COSTA 17 APRESENTAÇÃO INSTITUCIONAL 2 SOARES DA COSTA CONSTRUÇÃO PERFIL Construção civil, infraestruturas ATIVIDADE e engenharia EXPERIÊNCIA & DIMENSÃO HISTÓRIA Mais de 90 anos de Mais de 600 milhões de atividade Euros de carteira de encomendas CAPITAL MULTINACIONAL HUMANO Vários mercados core: Angola, Cerca de 3.785 colaboradores, 57% Portugal, Moçambique e Brasil dos quais em Angola APRESENTAÇÃO INSTITUCIONAL 3 SOARES DA COSTA CONSTRUÇÃO ATIVIDADE . O que fazemos? - Construção civil: edifícios de habitação, escritórios, hotelaria e turismo, restauro e remodelação de edifícios - Infraestruturas: educação, cultura e desporto, industriais, saúde e assistência, aeroportos, estradas, autoestradas, viadutos e pontes, túneis, ferroviárias, hidráulicas, ambientais e outras infraestruturas urbanas - Instalações técnicas: eletricidade, telecomunicações, gestão técnica, aquecimento, ventilação, ar condicionado, hidráulica, tratamento de águas, conceção, fabrico e montagem de estruturas metálicas . Onde estamos? - A empresa opera em vários mercados que considera core, como Portugal (continental e ilhas), Angola, Moçambique, Brasil, e noutros não core, como Roménia, S. Tomé & Príncipe, Omã e Suazilândia APRESENTAÇÃO INSTITUCIONAL 4 SOARES DA COSTA CONSTRUÇÃO ATIVIDADE . Principais Subsidiárias: Sociedade de Construções Soares da Costa, SA CLEAR Angola – Instalações Electromecânicas, Lda CLEAR - Instalações Electromecânicas, SA Soares da Costa Moçambique, SARL Somafel - Engenharia e Obras Ferrovárias, SA OFM - Obras Públicas, Ferroviárias e Marítimas, SA APRESENTAÇÃO INSTITUCIONAL 5 SOARES DA COSTA CONSTRUÇÃO ATIVIDADE . Organigrama (resumido) Soares da Costa Construção SGPS, SA 100% Sociedade de Construções Soares da Costa, SA 1% 99% Soares da Costa Brasil, Ltda 100% 95% Clear Clear Angola 100% Soares da Costa S.
    [Show full text]
  • It's a Competitive World After
    Overview p. 2 // International Market Analysis p. 2 // Past Decade’s International Contracting Revenue p. 2 // International Region Analysis p. 3 // 2013 Revenue Breakdown p. 3 // 2013 New Contracts p. 3 // Domestic Staff Hiring p. 3 // International Staff Hiring p. 3 // Profit/Losspg. 4 // 2013 Backlog p. 4 // Top 10 by Region p. 4 // Top 10 by Market p. 5 // Top 20 Non-U.S. International Construction/Program Managers p. 6 // Top 20 Non-U.S. Global Construction/Program Managers p. 6 How Contractors Shared the 2013 Market p. 8 // How To Read the Tables p. 8 // Top 250 International Contractors List p. 9 International Contractors Index p. 14 // Top 250 Global Contractors List p. 15 // Global Contractors Index p. 20 NUMBER07 PARIS HARMONY Bouygues is completing construction of the 2,400- seat Philharmonie de Paris, designed by French architect Jean Nouvel. It features over 10,000 sq ft of photovoltaic panels and a rainwater recovery system. PHOTO COURTESY OF BOUYGUES OF COURTESY PHOTO International Contractors It’s a Competitive World After All For large contractors, the amount of work is increasing but so are the demands of their clients and the competition By Peter Reina and Gary J. Tulacz enr.com August 25/September 1, 2014 ENR 1 THE TOP 250 INTERNATIONAL CONTRACTORS OVERVIEW 23.6% 25.2% Petroleum Transportation $128,219.0 $136,899.7 Int’l Market Analysis 20.7% Buildings $112,723.9 (Measured $ millions) 10.5% Power $57,318.5 6.8% Other $36,870.8 6.0% 2.9% Industrial 0.2% 1.3% Water $32,835.1 Hazardous 1.0% Sewer/Waste $15,771.0 Waste Telecom $7,073.7 1.8% $1,054.3 $5,598.5 Manufacturing $9,604.3 SOURCE: MCGRAW HILL CONSTRUCTION / ENR.
    [Show full text]