BEL Group with €6.8M profits

 In Companies, News

Portugal’s BEL Group closed the third quarter of 2023 with a sales turnover of €400 million and net profits of €6.8 million.

In a communiqué, the group led by Marco Galinha, which recently purchased Nutriva, a food company based in Vila Nova de Poiares near Coimbra, presented its results with an EBITDA of €15.8 million.
The BEL Group has 88 companies in six business areas with total assets worth €300 million and own capital of €110 million with a solvency level of 57%, and a financial autonomy of 36%.
The group also foresees “expected growth in 2024 with an estimated business turnover of €660 million and a net result of €9 million.
The company operates in logistics, industry, technological innovation, media and communication, real estate, and sustainable solutions.
The company started off as Bel Network Solutions in 2001 originally dedicated to software development and the presentation of computer solutions, computer equipment sales and rendering of services in that sector of the market.
In 2004 it created Bel Distribuição S.A., a company that initially aimed to acquire small companies in commerce and distribution in the central area of Portugal, and in the vending machines sector. Simultaneously, the company expanded in the Food&Beverage business area.
In 2018 The Grupo BEL becomes a reference shareholder of the Group Active Space Techologies, S.A. and acquired a percentage of Megafin – Sociedade Editora, S.A. owner of Jornal Económico. In the same year, with a view to the Recovery and Preservation of National Assets and Social Responsibility, Grupo BEL also became a shareholder of Fábrica das Fitas. (Textile accessories such as ribbons, cords and buttons).
In 2022, The Group acquired a percentage in Agência Lusa – Agência de Notícias de Portugal, S.A., becoming a reference shareholder of the largest producer and distributor of news about Portugal and the world in the Portuguese Language. In March 2022, it sold its shareholding in Megafin – Sociedade Editora, S.A., the owner of Jornal Económico.
This year, the BEL Group acquired the exclusive control of Amaral & Filhos Distribuição S.A., a wholesale cash and carry and distribution company selling food, beverages, and hygiene and cleaning products. The acquisition of this business allows the BEL Group to expand its operation into the food and agricultural sector. It also reinforced its presence in the innovation area with the acquisition of Comsoftweb, Sistemas Informáticos, Lda. In the communication area a new shareholder was welcomed into Global Notícias – Media Group, S.A. with its 51% stake in the company Páginas Civilizadas.