Martifer nets record €753 million in profits

The Portuguese construction firm Martifer saw its profits soar by 48% with record orders worth €753 million in 2023.

The group, controlled by the Martins brothers and Mota-Engil, closed 2023 with a sales turnover of €220 million, reducing its net debt from €33 million to just €8 million. Profits stood at €19.7 million.
Martifer’s orders book had around €300 million more orders than in 2022, closing 2023 with the highest number of projects in its history. (€753 million)
The naval and shipping industries represented €507 million of the total orders. Many of the ships were pleasure boats for the Douro River tourism group belonging to entrepreneur, Mário Ferreira.
The company also has done well to net a number of government contracts to build six ocean patrol boats worth €300 million.
Martifer also has another fat contract with the Japanese group Ryobi Holdings Co to build a new luxury cruise ship worth €100 million.
The shipbuilding industry at the West Sea shipyards in Viana do Castelo and Navalria in Aveiro, generated sales of €63 million towards a total group turnover of €8.4 million in 2023.
Martifer, which specialises in metal construction, saw two-thirds of its turnover (€140.4 million) come from its core business, while the renewable energy sector generated the remaining revenues.