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Statistical Press Release – Sector Tables – 2018

Today, Banco de Portugal publishes, in its Sector Tables, the economic and financial indicators of non-financial corporations for 2018.

The statistics published herein incorporate data from the Simplified Corporate Information for 2018. 

Return on assets (EBITDA as a percentage of assets) of non-financial corporations stood at 7.9%, down by 0.1 percentage points (p.p.) from 2017. Return on equity (net income as a percentage of equity) declined by 0.4 p.p. over the same period, to stand at 8.4% in 2018.

The capital ratio (equity as a percentage of assets) rose by 2.2 p.p., to 35.4% in 2018 (Chart 1). Also in 2018, the share of equity exceeded that of obtained funding in assets, which dropped by 2.1 p.p., to 34.0%. 

The cost of debt (financing expenses as a percentage of obtained funding) stood at 3.3%, corresponding to a decline of 0.3 p.p. from the previous year.

Together with the reduction in indebtedness and the cost of debt, there was an improvement in funding ratios. The financing expenses coverage ratio (EBITDA1 / financing expenses) moved from 6.2 to 7.0 (Chart 2) while the ratio of financial debt to EBITDA decreased by 0.2, to 4.3 in 2018 (Chart 3).

In terms of risk indicators, in 2018, there was a reduction in the share of corporations with negative equity (-0.4 p.p., to 26.2%) and with financing expenses above EBITDA (-0.1 p.p., to 14.5%). In turn, the share of corporations with negative EBITDA (+0.5 p.p., to 30.8%) and negative net income (+0.4 p.p., to 36.7%) increased.

Next update: 11 Nov. 2020


Note

1 Earnings before interest, taxes, depreciation and amortisation.