Lisnave posts €15.9 million profit and €169 million in sales

Lisbon’s ship repair yard Lisnave has posted its best results in years with €15.9 million in profits and orders in the region of €169 million.

The profit for 2023 was almost double on the €7.1 million registered in 2022 in what the management has called a “historic result” and its “best performance ever”.
The naval repair company, whose main shareholder is Navivessel with 72.87%, followed by Thyssenkrupp with 20% and State holding Parpública with 2.9% with 4.16% divided among other shareholders, said that after 2022, which had been an atypical year for shipping, with positive consequences for European shipyards, it had benefitted from an extended positive period until the end of 2023, closing the year with historic results in sales and revenues.
Last year, the company, which was bought in 2000 for US$1 by two managers, achieved a business turnover of €168.8 million, up €50 million on 2022, with the ship yard “overloaded with orders”.
For that reason it had to actually turn work away with orders falling to 63 last year (in 2022 it had 103) as a consequence of the shipyard being full.
Lisnave closed 2023 having repaired and/or carried out maintenance on 76 ships, 14 fewer than in 2022, with just one order for the national market. The average bill per vessel went up by 80.4% on 2022.