The Jose de Mello Group achieved profits of 95 million euros in 2023, an increase of 3.2% compared to 92 million euros in the previous year. In a press conference, Salvador de Mello postulates growth in consolidated results, but also in each of the companies in which he is present. But he prefers not to give predictions for this year in terms of results.
He admits it’s a difficult time. “International geopolitical instability has characterized recent years and will continue in 2024 and beyond.” In addition, “domestic political instability” is “also a reality.” Salvador de Mello says: “What emerged from the elections was not a situation that guarantees stability and reassurance that keeps us all at peace.”
In this scenario of instability, high — “declining” inflation — “had a significant impact on costs,” as well as higher interest rates. In other words, there is a “difficult scenario” also resulting from a slowdown in economic growth at the European level. Despite this, “the year 2023 had very positive results,” assumed the group’s president, José de Mello, who strengthened “the leadership position in all the sectors in which we invest,” with “the flexibility to resist and overcome contextual conditions.”
However, Jose de Mello Group reported an increase in profits, also due to business growth. In terms of combined value, turnover reached €1,319 million, an increase of 5% from €1,255 million in the previous year. Translated EBITDA also increased to €204 million, compared to €192 million in 2022.
In the health sector, CUF is one of the flagship companies of the José de Mello Group. But Salvador de Mello did not want to comment on the plan presented by the government on Wednesday. He also did not comment on the possible return of public-private partnerships in the health field that this government may intend to undertake, and referred questions on this topic to the executive authority itself. “CUF has defined its project and it is natural that its project, at this moment, does not go through a public-private partnership,” said Salvador de Mello, who referred to the investments the group is making with the launch of the International Hospital Dos Acores in 2023. , the opening of CUF Leiria, the first step towards opening a hospital, and the announcement of a hospital in the coming years in Covilha. “The Communist United Front is still experiencing important growth,” highlights Salvador de Mello.
The person in charge of the reservation, José de Mello, did not clarify his comments about the political situation, and merely mentioned the main announcements about the airport, the third crossing over the Tagus River (in Lisbon) and high speed. “Political instability is a given, and we must have the ability to operate in these conditions” There are decisions being made.
What will be taken in the near future concerns the new business area related to lithium. The group together with Bondalti (its chemical company) created Lithium for green lithium projects. Salvador de Mello, who is beyond the chairman of Bondalty and head of Levithium itself, says that after verification of production conducted at third-party facilities in Canada, the pilot project will be carried out on a smaller scale before moving on to a more enhanced pilot. Only then will a decision be made on the investment and location of the refinery. Salvador de Mello says the location has not yet been determined. Although Duarte Braga, who was chosen to lead the project, recently revealed to international journalists, According to Jornal de Negosiussaid that production at the first refinery in Portugal would start in 2027. The location would have already been determined – Estareja, where the Bondalte Industrial Center is located.
These statements also indicated that in addition to this unit, a second factory will be planned. Salvador de Mello says the sites have not yet been identified and should be chosen between Portugal and Spain, depending on incentives, conditions for rapid implementation and licensing. Therefore, there is the possibility of “doing this in both Portugal and Spain.”
It also did not provide the expected investment values, although this news indicates a value of 500 million per unit. And before that, Joao de Mello, from Bondalti, has indicated an intention Investment in green lithium reaches 1200 million.
At the moment, the group is alone in this project, but Salvador de Mello does not rule out the presence of partners. “We would of course welcome bringing partners into the project, perhaps at a later date.” The group’s official confirmed, in a press conference, “the enthusiasm towards the goal of becoming player “Relevant to lithium refining at the European level.”
One of the largest investments made by the group is currently underway, with the launch of an OPA by Bondalti for the Spanish company Ercros, which could mean a cost of €330 million, pending regulatory developments.
Bondalti makes a $329 million takeover bid for Spanish company Ercros
Jose de Mello’s balance sheet structure is currently comfortable, having reduced its debt to €721m in 2023.
