851.3mn Euro government loan to Portuguese road management company

Portuguese road management company Estradas de Portugal (EP) received government loans totalling €851.3 million between January and September 2012, bringing the firm's total debt to €2.7 billion in the third quarter of 2012. The amount lent to EP was part of a €2.25 billion sum lent to a variety of non-financial state-owned companies in the first nine months of this year. However, the loans equated to less than half the amount granted by the government in loans to non-financial state-owned firms in the same
December 14, 2012 Read time: 1 min
Portuguese road management company 1410 Estradas de Portugal (EP) received government loans totalling €851.3 million between January and September 2012, bringing the firm's total debt to €2.7 billion in the third quarter of 2012.

The amount lent to EP was part of a €2.25 billion sum lent to a variety of non-financial state-owned companies in the first nine months of this year. However, the loans equated to less than half the amount granted by the government in loans to non-financial state-owned firms in the same period of 2011.

The loans have been attributed to the lack of finance available from banks.

For more information on companies in this article

Related Content

  • Wacker Neuson remains strong financially
    November 11, 2022
    Wacker Neuson’s latest results show it remains strong financially.
    Read More
  • Bad weather impacts Colas profits, but revenues up 4%
    August 29, 2012
    Unfavourable weather conditions are said to have been the main cause of Colas Group’s €19 million net loss in the first six months of 2012, compared to a €2 million net profit over the same six-months of 2011. However, the leading French transport infrastructure suppliers achieved a 4% increase in consolidated turnover to €5.6 billion between January 1 and June 30, 2012, against 5.4 billion over the same period the previous year.
    Read More
  • Wacker Neuson reports strong Q3 performance
    November 12, 2013
    Compact equipment manufacturer Wacker Neuson reports an upturn in its business in the third quarter of 2013. This comes despite the difficult economic climate. The firm’s revenue for the third quarter of 2013 was 8.6% higher than the same period in 2012 and reached €276.3 million, compared €254.5 million in the previous year. Taking into account currency fluctuations, this represents an increase of 13% according to the firm. “When viewed against negative trends in certain markets, we can be satisfied with t
    Read More
  • Seittsa set to take on management of bankrupt Spanish motorways
    July 31, 2017
    The Spanish government has given the green light for the state-owned transport infrastructure firm Seittsa to manage nine bankrupt toll motorways. The deal is for Seittsa to prepare the terms for their retender to private companies by the end of next year. Spanish media report that the cost is set to be lower than the €3.5 billion previously estimated by some analysts. The arrangement comes after three years of failed attempts by the government to step in and facilitate debt restructuring between the invest
    Read More

Highlighted Content