45% of companies report losses

 In Companies, Covid-19, News

Forty-five percent of Portuguese companies made a loss in 2020 according to data released by the Bank of Portugal.

Nevertheless, despite the pandemic and the resulting lockdown, it could have been far worse. In 2019 that figure was running at 36.9%.
And according to the data released on Tuesday, the percentage of companies in this situation increased across all regions of Portugal.
The statistics confirm that the Algarve (52.2%) and Madeira (52.5%) were the regions where companies, heavily reliant on tourism, most suffered as a result of the Covid-19 pandemic.
This was followed by companies in the Lisbon Metropolitan Area (49.1%). Despite an increase by 6% in like-for-like terms, businesses in the Central area of Portugal (38.8%) continued to be the least affected in the 2020 results.
Confirming the percentage increase of companies in a situation of potential risk, the BoP figures also shows a fall from 7.6% to 5.9% in the profitability of company assets for the period, marked by the initial spread of the Covid-19 infection.
The financial impact on companies in 2020 was least serious in the Centre (7.63%) and North (7.15%).
Another aspect studied by the BoP was the financial autonomy of companies which had increased from 36.5% in 2019 to 38.1% in 2020.
The areas of the country where businesses most bolstered their own capital was the Lisbon region (32.5% to 34.8%), and the greatest reductions were in the Algarve, Azores and Madeira, although Madeira was the region with the highest percentage value (43.1%) nationally.