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Statistical Press Release – Sector Tables – 2019

Today, Banco de Portugal publishes, in the Sector Tables, the economic and financial indicators of non-financial corporations for 2019. The statistics now published incorporate data from the Simplified Corporate Information for 2019, and revisions for the years 2017 and 2018.

In 2019, there were 469 thousand non-financial corporations in activity with headquarters in Portugal, 3.1% more than in 2018. Micro companies represented 89% of the total number of corporations and 16% of the aggregate turnover. Large companies, representative of 0.3% of total corporations, generated 42% of turnover.

Three out of four companies belonged to the service sectors: 23% to the trade sector and 52% to the other services. Trade represented 38% of total turnover, followed by other services and manufacturing (25%, in both cases).

Most corporations had their headquarters based in the North (33%), in the Lisbon Metropolitan Area (33%) or in the Centre region (19%). The Lisbon Metropolitan Area was the most relevant region in terms of turnover (46%), followed by the North (28%) and Centre (16%) regions. The North region was the most representative in the manufacturing sector (51% of corporations in this sector), also comprising a significant share of construction and trade corporations (36%, in both cases). The Lisbon Metropolitan Area aggregated the largest number of corporations in other services (41% of corporations in the sector) and Alentejo the largest number of corporations in agriculture and fishing (32%).

The business structures by size class, activity sector and geographic location did not change significantly compared to 2018.

 

Return on assets (EBITDA as a percentage of assets) of non-financial corporations stood at 7.5%, 0.3 percentage points (p.p.) less than in 2018. Return on equity (net income as a percentage of equity) declined by 1.1 p.p. over the same period, standing at 7.2% in 2019 (Chart 1).

 

The capital ratio (equity as a percentage of assets) increased 1.3 p.p., to 36.5%, in 2019, and the share of obtained funding in assets dropped 0.7 p.p., to 33.3% (Chart 2). 

The cost of debt (financing expenses as a percentage of obtained funding) remained identical to that of the previous year, standing at 3.2%.

The financing expenses coverage ratio (EBITDA1 / financing expenses) and the ratio of financial debt to EBITDA remained at the previous year’s values, 7.1 and 4.4, respectively (Charts 3 and 4).

In terms of risk indicators, in 2019, there was a reduction in the percentages of corporations with negative equity (-0.9 p.p., to 25.5%) and with financing expenses higher than EBITDA (-0.3 p.p., to 14.2%). However, there was an increase in the percentages of corporations with negative EBITDA (+0.2 p.p., to 31.1%), and negative net income (+0.2 p.p., to 37.0%) increased.

Next update: 10 Nov. 2021


Note

1 Earnings before interest, taxes, depreciation and amortisation.