The company’s president, Manuel Teixeira Duarte, explained that “the level of taxes calculated [26 milhões de euros] led the group to record negative net results worth three million euros.
Teixeira Duarte had losses of three million euros in 2023below the losses of 14.9 million euros in 2022, announced to the market.
In the report and accounts released at the Securities Market Commission (CMVM) on Tuesday night, the company’s president, Manuel Teixeira Duarte, says that “the level of taxes calculated [26 milhões de euros] led the group to record negative net results worth three million euros”, adding that the group also penalized the evolution of its financial position, which it attributed mainly to the devaluation of the kwanza (the currency of Angola, the country where the company has a strong presence).
Sales and services provided were 767 million euros in 20238% less compared to 2022, with construction activity representing 67% of these sales.
EBITDA (results before taxes, interest, depreciation and amortization) grew 30% to almost 77 million euros.
By sector of activity, the real estate contributed almost 35 million euros to EBITDA, hospitality with 21 million euros, concessions and services with eight million euros, distribution with eight million, construction with seven million euros, automobiles with four million and there are negative 6.7 million in activities not affected by segments.
Net debt was 647 million euros at the end of 2023, 50 million euros less than in 2022. The Teixeira Duarte Group states, in its report and accounts, that it operates in 21 countries and has 8,689 employees.
Tags: Teixeira Duarte reduces losses million euros Construction
