- Order intake reached 348.1 million euros, 98.8% more than in 2021.
- Revenues amounted to 123.1 million euros, an increase of 45.7% compared to the previous year.
Duro Felguera has today published its results for the second half of 2022, a period in which there has been notable progress that confirms that the company is leaving behind the survival stage to embark on a new era of consolidation and growth.
Order intake is one of the most noteworthy figures: the Group experienced delays in this aspect during the first half of the year, a trend that improved during the last months of 2022, a period in which order intake accelerated and backlog forecasts improved considerably.
Specifically, order intake for the year amounted to EUR 348.1 million, 98.8% higher than the order intake for the same period in 2021, with the award of a EUR 76.9 million contract in Morocco for the construction of a processing plant at a silver ore mine for a Canadian group being a highlight. In addition, an important agreement was reached in relation to the Iernut project in Romania, which will enable the project to be relaunched in the coming months.
Sales amounted to 123.1 million euros, an increase of 45.7% compared to the previous year.
The resulting EBITDA was 4.6 million euros, compared to 9.1 million euros negative in the previous year, while the net result attributed to the Group was 5.4 million euros positive.
The contract portfolio at the end of the year amounted to 550 million euros, 90% of which corresponds to international projects. It is also worth highlighting the reduction in financial and commercial debt, as well as the satisfactory settlement of some lawsuits, such as the one with the Mexican Federal Electricity Commission (CFE), and the positive progress of others.
The clear improvement in results has been an important key to making the Company attractive in the search for industrial investors. As the Chief Executive Officer, Jaime Argüelles, pointed out, “there has been an increasing number of interested parties as time went on and it became clear that Duro Felguera was fulfilling its commitments and making good progress on its viability plan and its business plan with efficient and successful management”.
The Group announced last Tuesday, February 21st, that it has reached a binding agreement of understanding with Grupo Promotor de Desarrollo e Infraestructura, S.A. de C.V. and Mota-Engil México, S.A.P.I. de C.V. with the objective of their entry as industrial partners of Duro Felguera to ensure the long-term viability and sustainable growth of the Company through a capital increase.
The entry of these investors will generate opportunities with new industrial projects and provide synergies for business expansion and growth in international areas, strengthening the position of Duro Felguera in the market.