Martifer profits up 26% to €11.5 million to June

Portuguese construction company Martifer saw profits up 26% to €11.5 million in the first half of 2024 on the back of fat order books.

The Oliveira de Frades-based group achieved an operating income of €126.4 million, which represents a year-on-year growth of 26%, mainly from its metal construction business (46%) and shipbuilding (40%) – the remaining turnover came from the areas of renewables and energy.

EBITDA (earnings before interest, taxes, depreciation and amortisation) reached €20.4 million, with a margin of 16.7% on turnover, which was €122 million.

Martifer, controlled by brothers Carlos and Jorge Martins, closed the first half of the year with an order book in the metal construction and shipbuilding industry slightly above €700 million, up 63% compared to June last year. In February the group celebrated its 30th anniversary.