Visabeira business turnover climbs 11.7% to €327 million

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Business turnover for the Visabeira Group rose 11.7% in the first six months of the year to €327 million on 2017.

The results before taxes, interest, depreciations and amortisations (EBITDA) INCREASED 21.5% TO €61.3 million with a 18.8% margin which compares to the 17.2% for the same period in 2017.

The group’s operational result was €43 million for the half, an increase of 29.7% while it succeeded in slashing its accumulated debt by €162 million.

“For the overseas market our focus continues to be on the export of products and services developed by the group’s companies” in that the first half of the year the group’s activities overseas represented 64% of its business turnover.

Regarding the European market, “The business turnover grew is an organically sustainable way, achieving €158 million with strong performance in France, Germany, Italy, Belgium and Denmark.

In 2017, the Grupo Visabeira reached new record highs, with a consolidated turnover of €638 million.

The Group recorded an EBITDA of €124 million, which translates into a growth of 11% YoY, and net profit rose from €28 million to 50 million euros, representing a growth of 77%.

The Grupo Visabeira remained strongly committed to its internationalisation strategy, which was well reflected in the amount of business generated outside Portugal, which reached 64%.

In foreign markets, the countries with the greatest weight in turnover were France, Angola and Mozambique.

Visabeira Global is the Group’s main sub-holding company, representing 71% of consolidated turnover and 63% of EBITDA, with the highest contributions coming from Europe, and especially from France.

Companies in central/northern Europe (France, Belgium, Germany, Italy and Denmark) contributed with €207 million to this sub-holdings business turnover, evidencing the focus on this centrality as a key factor for the Group’s growth strategy in the telecommunications sector. Visabeira Indústria contributed with 20% to the Group’s consolidated turnover, reaching €127 million, having contributed with €22 million to EBITDA.

In this area, highlight goes to Vista Alegre, which reached €85 million in turnover in 2017, representing a 13% increase compared to 2016, with net profits recording a very positive evolution, standing at €4.2 million.

The sub-holding Visabeira Turismo closed 2017 with a turnover of €35 million, which represents almost 6% of the Group’s total consolidated turnover, reaching an EBITDA of €16 million.