Investor Presentaiton
MOTAENGIL
Working capital to Turnover ratio of 9% in 1H19
20%
475
Working capital evolution
17%
367
8%
9%
7%
7%
251
Jun.19
Working capital impacted in 1H19 by the E&C seasonality and increased
activity in Africa, where Mota-Engil's operations are fully vertically
integrated with very low level of subcontracting
Working capital/Turnover ratio stood at a comfortable level (9%)
Downward trend started in 2016 with the reinforcement of cooperation
with multilaterals, ECA's and pre-payments (for large contracts)
Focus on structuring the contracts with the aim of minimising the
receivables payment period and credit risk exposure
221
199
177
Dec.15
Dec.16
Dec.17
Jun. 18
Dec.18
Working capital (€ mn)
Working capital/Turnover
1Turnover of the last twelve months.
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