The group controlled by the Martins brothers and Mota-Engil closed the 2023 financial year with sales of 220 million euros, having reduced its net debt from 33 million to just eight million euros. Profits amounted to 19.7 million euros.
Martifer ended the year 2023 with the largest order book in its history – 753 million euros, which represents an increase of almost 300 million euros compared to a year before, with the naval industry business representing 507 million euros total.
A portfolio that, in addition to the ships for businessman Mário Ferreira’s group, was filled last Christmas with the signing of a contract with the Portuguese State to build six ocean patrol vessels, for a value of approximately 300 million euros, and another with the Japanese group Ryobi Holdings Co. for the construction of a luxury cruise ship, worth 100 million euros.
The naval industry, with the West Sea shipyards in Viana do Castelo and Navalria in Aveiro, generated sales of 63 million euros for a global group turnover of 219.9 million euros in the 2023 financial year, plus 8.4 million than in the previous year, the Martifer group said this Wednesday, March 13, in a statement sent to the Securities Market Commission (CMVM).
Martifer’s founding activity, metallic construction, represented almost two thirds (140.4 million euros) of the Oliveira de Frades group’s turnover, while the renewable energy segment generated the remaining revenue.
More profits, improved EBITDA and less debt
The group’s net profit in 2023 reached 19.7 million euros, 48.1% more than in the previous year, with EBITDA (earnings before interest, taxes, depreciation and amortization) reaching 34.1 million , which translates into a year-on-year increase of 8.3 million euros.
Meanwhile, the group’s equity, which had almost doubled to 35 million euros in 2022, closed the last year at 55.5 million euros.
Always in good shape is the focus on reducing the debt of the group controlled by I’M, owned by brothers Carlos and Jorge Martins, and Mota-Engil.
At the end of last December, the Martifer group’s gross debt was 91 million euros, six million less than a year before, while the net debt was reduced from 33 million to just 8 million euros.
“Update” to the strategic plan in 2024
In the statement sent to the CMVM, the group with Pedro Duarte as CEO reveals that an “update” to the strategic plan will be prepared in 2024, “based on the pillars that sustained the success of recent years, but with the reinforced ambition of sustained growth and sustainable”, he highlights.
In Metallic construction, Martifer’s focus “remains on strengthening the group’s export profile, looking for opportunities in markets and customers that value quality and excellence, in organizing and valuing people and productivity”.
In the naval industry business, the group plans to increase its ship repair capacity “through the construction of a new dry dock at the shipyards in Viana do Castelo, positioning us as one of the most important shipyards in Europe in this area and making activities of repair and shipbuilding increasingly balanced in the relative weight of turnover”, he points out, also intending to “strengthen the Operation & Maintenance activity, in particular Industrial Maintenance”.
In the area of Renewables & Energy, the Oliveira de Frades group wants to “grow gradually and consistently, increasing the relative weight of this business unit in the group, taking advantage of the opportunities associated with the energy transition, the decarbonization of the economy and hydrogen”, through the Green.H2.Atlantic consortium in which it participates.
And, also, “establish quantitative targets for the next strategic cycle monitored by the ESG & Sustainability Committee, and, above all, allow us to consolidate the sustainable creation of value as the group’s main strategic purpose.”
(News updated at 17:21)
