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FINANCIAL INFORMATION

The Drill GO project, started in 2019, is based on a set of investments in human capital and geotechnics equipment to be carried out by companies incorporated under Portuguese and Angolan law, extending over a projected 5-year period.
This investment in equipment will depend on a strong equity contribution (both in terms of capital and long-term supplies) as well as on securing medium and long-term financing (5 years), which will give both companies a financial solidity that can be deployed in the target markets with a winning attitude

Drill GO Portugal

For a company created in 2019, the financial indicators mentioned below already show some financial solidity, which allow it to take an optimistic view of the near future.

In its first year, the company recorded a turnover of around 2.6 million euros for projects carried out in Portugal and France (through its local branch).

The main financial indicators are as follows:

  • Financial autonomy        15,95%

  • Overall Liquidity             1,35

Given the significant volume of orders received in 2019, to be carried out in 2020, and taking into account the increase in the company’s operational capacity resulting from investments in new equipment and human resources, the company's objectives for this geographical area in 2020 are as follows: (approximate amounts)

  • Turnover (T/O)                  8.000.000€

  • T/O in Portugal                 6.000.000€

  • T/O in Europe                   2.000.000€

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Drill GO Angola

The company – under Angolan law – was also incorporated in 2019, and started operations during the 2020 financial year. This investment is intended for Angolan operations that include the entire African continent, by definition adhering to its shareholders’ internationalisation effort, but also not neglecting individual business opportunities of a geotechnical nature.

Predictably, the first contracts were signed in Angola, a country where we expect significant performance in terms of geotechnics activity.

 

The company's business objectives for the coming years depend heavily on the evolution of Angola's private and public investment. We believe that over the 2-3 year horizon, Drill GO – Angolan company will be identical to its European "sister" in size.

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