Martifer’s profit rises to 13.3 million on lower revenue and debt – India

After doubling profits from the first to the second year of the covid-19 pandemic, the Martifer group closed the last financial year with a net result of 13.3 million euros, two million more than in 2021, with EBITDA (earnings before interest, taxes , depreciation) reaching the same value as the previous year – 25.8 million euros.

Strong result despite the fact that, for the second year in a row, turnover decreased: 37.8 million euros less than in 2020 and 17.2 million less than in 2021, for a total revenue volume of 211.5 million in the financial year in 2022, the company reveals, in a statement sent to the Capital Market Commission (CMV), this Thursday, March 16.

By sector of activity, with exports generating 78% of consolidated sales, metal construction contributed half (49%), followed by the marine industry with 33%, while the renewable energy and industrial maintenance sectors generated only 10 % and 8% of the turnover group, respectively.

Equity doubles, debt plummets

Investments amounted to 2.9 million euros – almost a million less than last year – of which 1.5 million in renewable energy sources, 1.3 million in metal structures and 120 thousand euros in the shipbuilding industry.

Meanwhile, the Martifer group’s equity, which had more than tripled in 2021 compared to the previous year, closed 2022 at 35 million euros, almost doubling the 18.5 million reached a year earlier.

Always in shape is the commitment to reduce the debt of the group controlled by I’M SGPS, brothers Carlos and Jorge Martins and Mota-Engil.

At the end of last December, the gross debt of the Martifer group was 97 million euros, 14 million less than a year earlier, while the net debt fell from 29 million to 41 million euros.

The order book of 460 million strengthened by 68 million in February

The order book stood at €460 million at the end of 2022 – €32 million less than in December 20221 – having already been boosted this year with the award of a robust €68 million contract for the supply and installation of steel structure railway viaducts in Birmingham, as part of the High Speed ​​Two (HS) project, the new high-speed rail line that will connect London with the north of England.

By sector, at the end of 2022, nearly half (47%) of order value comes from shipbuilding and 30% from metal structures, followed by facades and industrial maintenance with 11% each.

“During the financial year 2023, the Martifer Group will continue to deepen the implementation of its strategic axes, based on the pillars that supported the success of the last years, but with the renewed ambition for sustainable and sustainable development and remains focused on the goals and in the defined strategy”, emphasizes the group in the same announcement sent to CMVM.

In metal fabrication, Martifer’s focus “remains on strengthening the group’s export profile, seeking opportunities in markets and customers that value quality and excellence, organization and valuing people and productivity.”

In the marine industry, the group intends to increase its ship repair capacity, “positioning ourselves as one of the most important shipyards in Europe in this sector and making the ship repair and construction activities increasingly balanced in its relative weight volume of work”. promises, also intending to “strengthen the activity of Operation & Maintenance, especially Industrial Maintenance”.

In the area of ​​Renewable Energy and Energy, Martifer wants to “grow gradually and consistently, increasing the relative weight of this business unit in the group, taking advantage of the opportunities related to the energy transition, the decarbonisation of the economy and hydrogen (through the GreenH2Atlantic consortium in which we participate)”, concludes the group whose CEO is Pedro Duarte.

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