Statistical Press Release – Statistics on corporations in the Central Balance Sheet Database – 4th quarter of 2020
Today, Banco de Portugal publishes statistics on corporations in the Central Balance Sheet Database for the fourth quarter of 2020, in Table A.19 of the Statistical Bulletin and in BPstat1.
Return on assets (EBITDA2 / assets) of non-financial corporations in 2020 stood at 6.1%, unchanged from the year ended in the previous quarter, which represents a decrease of 1.5 percentage points (p.p.) compared to 2019.
By activity sector, the private corporations’ profitability decreased by 3.9 p.p. in transportation and storage sector, 3.0 p.p. in head offices, 1.7 p.p. in trade, 1.0 p.p. in other services and 0.7 p.p. in manufacturing. The electricity and construction sectors showed an increase in profitability of 0.3 p.p. and 0.1 p.p., respectively. Public corporations3 presented a 9.5 p.p. decrease in profitability by comparison with the end of the previous year. By size class, profitability decreased 0.5 p.p. in large corporations and 1.2 pp in SME4, standing at 8.4% and 5.8%, respectively.
The capital ratio (equity / assets) stood at 39.9%, which corresponds to an increase of 0.5 p.p. from the last quarter and of 1.3 p.p. from the end of 2019 (Chart 1).
The share of obtained funding in total assets decreased by 0.6 p.p. compared to the end of 2019, standing at 32.8% at the end of 2020.
The cost of financial debt (financing expenses / obtained funding) stood at 3.0% in 2020, unchanged from the year ending in the third quarter as well as from 2019 (Chart 2).
The financing expenses coverage ratio (EBITDA / financing expenses) stood at 6.1, unchanged from the year ended in the previous quarter, which represents a decrease of 1.3 compared to 2019 (Chart 2). Compared to that year, public corporations and all private corporations’ sectors with the exception of electricity and construction, showed decreases in this ratio.
Next update: 16 Jul. 2021
1 The compilation of the quarterly indicators is based on: (i) for balance sheet variables, average values for the year ending in the quarter; (ii) for profit and loss account variables, values for the year ending in the quarter. The structure of funding is based on end-of-quarter values.
2 Earnings before interest, taxes, depreciation and amortisation.
3 Public corporations not included in the general government sector.
4 Micro, small and medium-sized enterprises.