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2014 - AN EXCELLENT PERFORMANCE

In 2014, COBA Group achieved very positive results, with emphasis on the following indicators:

  1. The highest portfolio of contracts in its history that, in terms of the current employee structure, ensures production activities for nearly five years.
  2. Involvement in very large and complex projects, especially in the field of hydropower generation, increasing its international prestige.
  3. Expansion into new markets, with a special focus on East Africa, as a result of diversification efforts started some time ago.
  4. High profitability, for an invoiced amount of about 35 million euros, despite the bad economic environment in the various markets where it operates.

Based on the strategy to strengthen the operational capacity of the Group companies and the cash flow forecast difficulties in the operating countries, the Group's shareholders decided to apply the total amount of profits in reserves and retained earnings.

In order to substantiate the self-governance policy of the Group companies in the respective countries, a new Board of Directors was set up for COBA, Consultores de Engenharia e Ambiente, SA - COBA Portugal - and an Executive Committee on the Board of Directors for COBAngola.

The decision to appoint a joint chief executive officer to both Boards aims at tightening the cooperation ties between the two companies and to support the development and empowerment of COBAngola, who will take the lead in the partnership and connections with Angolan Authorities and Clients.

Victor Carneiro
Vice-President of COBA Group

 

Lx, 31 May 2015