Martifer SGPS, S.A.

Equities

MAR

PTMFR0AM0003

Renewable Energy Equipment & Services

Market Closed - Euronext Lisbonne Other stock markets 11:35:22 2024-04-26 am EDT			5-day change	1st Jan Change
1.545 ^EUR	+2.32%		-2.52%	+0.98%

2023	Portugal Investigates Green Hydrogen Project Over Corruption Allegations	MT
2023	Martifer SGPS, S.A. Reports Earnings Results for the Half Year Ended June 30, 2023	CI

Martifer SGPS S A : Annual Results Presentation 2023

March 14, 2024 at 05:50 am EDT

HIGHLIGHTS

RESULTS ANALYSIS

BUSINESS AREAS

SUSTAINABILITY AND FUTURE PROSPECTS

DISCLOSURE

This document (20 pages) was prepared by Martifer SGPS, S.A. exclusively for the present disclosure. The referred financial information is unaudited information.

All communications, queries and requests for information relating to this document should be addressed to the representatives of Martifer SGPS, S.A..

EARNINGS RELEASE 2023 MARTIFER GROUP

RESULTS ANALYSIS
BUSINESS AREAS
SUSTAINABILITY AND FUTURE PROSPECTS

HIGHLIGHTS

RESULTS ANALYSIS BUSINESS AREAS

SUSTAINABILITY AND FUTURE PROSPECTS

219.9M€

34.1M€

19.7M€

73%

60M€

91M€

0.2x

56.2M€

753M€

Operating Income reached 219.9 M€ of which 140.4 M€ in Metallic Constructions, 63.0 M€ in Naval Industry and 18.6 M€ in Renewables

Positive EBITDA of 34.1 M€ (margin of 16.1% on Turnover)

Net Profit atributable to the Group of 19.7 M€

Turnover generated outside Portugal and exports amount to 73% of the total Turnover of the Group

Gross Value Added amounted to around 60 M€, 28% of Turnover

Gross Debt with a reduction of 6 M€ in relation to December 2022 to 91 M€. Net Debt was reduced in 33 M€ to 8 M€

Net Debt/EBITDA 0.2x

Positive Equity of 56.2 M€, with Equity attributable to the Group of 55.5 M€

Order book of 753 M€ in Metallic Constructions and in Naval Industry

EARNINGS RELEASE 2023 MARTIFER GROUP

DESTAQUES

HIGHLIGHTS

BUSINESS AREAS
SUSTAINABILITY AND FUTURE PROSPECTS

HIGHLIGHTS

RESULTS ANALYSIS

BUSINESS AREAS

SUSTAINABILITY AND FUTURE PROSPECTS

RESULTS

M€	2023 \| MARTIFER
CONSOLIDATED


Operating Income	219.9

EBITDA	34.1

EBITDA Margin	16.1%

Amortisation and depreciation	-5.8

Provisions and impairment losses	0.0

EBIT	28.2

EBIT Margin	13.3%

Financial result	-7.3

Results in associate companies	0.6

Net Income for the year	21.1

Attributable to the Group	19.7

(unaudited)

EBITDA = Sales and services rendered + Other operating income - Cost of goods sold and materials consumed - Subcontracts - External services and supplies - Personnel costs - Impairment losses on financial assets - Other operating costs

EBITDA Margin = EBITDA/Turnover (211.7 M€)

EBIT = EBITDA - Amortisations and depreciations - Provisions - Impairment losses on non-financial assets

EBIT Margin = EBIT/Turnover (211.7 M€)

OPERATING INCOME

28%

52%

12%

Metallic Constructions	Renewables & Energy
	- Wind and Solar

Naval Industry

Renewables & Energy

- Industrial Maintenance

In commercial and business management terms, the industrial maintenance and oil

gas segments are under the brand Martifer Renewables & Energy; however, in terms of economic and financial reporting they are included in the Metallic Constructions area.

EARNINGS RELEASE 2023 MARTIFER GROUP

HIGHLIGHTS

RESULTS ANALYSIS

BUSINESS AREAS

SUSTAINABILITY AND FUTURE PROSPECTS

CAPEX AND FINANCIAL DEBT

CAPEX

		Total CAPEX
5%		of 6.31 M€,
	(excluding assets

	30%	under right of use
	related to leases

		accounted under
		IFRS 16 -
		Leases), of
		which 4.09 M€
		from Renewables,
		1.91 M€ from
65%		Metallic
	Constructions

Metallic Constructions		and 0.30 M€ from
Naval Industry		Naval Industry.

Renewables & Energy

- Wind and Solar

FINANCIAL DEBT (M€)

223 206

200

150	176	173	141
	120	111

					97	91
100

			106
50				76	70


						41	8
0	2017	2018	2019	2020	2021	2022	2023

-50
		NET DEBT		GROSS DEBT
	Metallic Constructions Renewables & Energy	Holding
	+ Naval Industry

GROSS DEBT = Loans (+/-) Derivatives NET DEBT = Gross debt - Cash and cash equivalents

EARNINGS RELEASE 2023 MARTIFER GROUP

HIGHLIGHTS

RESULTS ANALYSIS

BUSINESS AREAS

SUSTAINABILITY AND FUTURE PROSPECTS

FINANCIAL DEBT | DEBT PHASING

EBITDA (M€)						ANNUAL CAPITAL REPAYMENTS (M€)
40						8
				34.1

30	28.9						5.6
		25.8	25.8					4.9	4.5	4.6	4.7


20		19.4				4		3.1	1.2	1.2	1.2	1.2
							2.3

10							2.4	3.7	3.2	3.3	3.4	1.2


											1.0
0						0
2019	2020	2021	2022	2023	2023	2024	2025	2026	2027	2028

									Metallic Constructions + Naval Industry		Renewables & Energy

Medium- and long- term phasing of the financial Debt
Average maturity of the Debt is 5 years
Average Debt rate 6.93%
Solid Liquidity Ratio
Debt Service Coverage Ratio > 3x

GROSS DEBT/EBITDA AND NET DEBT/EBITDA GROSS FINANCIAL DEBT | PROJECTION (M€)

5	4.3

4
3	2.7
2
1
0	2021

3.8

1.6

2022

2.7

0.2

2023

100	91.3	86.4	81.9
	6.2	77.4

80	5.0	3.7	72.7	70.4
	2.5

				1.2	0.0
60
85.1
40	81.4	78.2	74.9	71.5	70.4


20

0	2023	2024	2025	2026	2027	2028

Debt Service Coverage Ratio =

EBITDA/Debt Service

∑(interest rate x capital debt) of each loan

Gross Debt/EBITDA

Net Debt/EBITDA

Metallic Constructions + Naval Industry	Renewables & Energy	Total

Average rate=

total amount of loans

EARNINGS RELEASE 2023 MARTIFER GROUP

HIGHLIGHTS

RESULTS ANALYSIS

BUSINESS AREAS

SUSTAINABILITY AND FUTURE PROSPECTS

BALANCE SHEET

M€ 300

250

200

150

100

(unaudited)

Equity


Assets
275		Liabilities
		219

EARNINGS RELEASE 2023 MARTIFER GROUP

HIGHLIGHTS
RESULTS ANALYSIS

SUSTAINABILITY AND FUTURE PROSPECTS

Attachments

Original Link
Original Document
Permalink

Disclaimer

Martifer SGPS SA published this content on 13 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2024 09:49:06 UTC.

Latest news about Martifer SGPS, S.A.

Portugal Investigates Green Hydrogen Project Over Corruption Allegations	Nov. 08	MT
Martifer SGPS, S.A. Reports Earnings Results for the Half Year Ended June 30, 2023	23-08-21	CI
XCMG Machinery Signs Memorandum of Cooperation with Martifer	23-07-10	CI
Martifer SGPS, S.A. Reports Earnings Results for the Full Year Ended December 31, 2022	23-04-28	CI
Galp Energia, SGPS, S.A. acquired additional 48.5% stake in Ventinveste, S.A from Martifer SGPS, S.A. for €6.4 million.	22-09-07	CI
Martifer SGPS, S.A. Reports Earnings Results for the Half Year Ended June 30, 2022	22-08-25	CI
Martifer SGPS, S.A. Reports Earnings Results for the Full Year Ended December 31, 2021	22-04-29	CI
Martifer Sgps, S.A. Reports Earnings Results for the Half Year Ended June 30, 2021	21-08-26	CI
Martifer Sgps, S.A. Reports Earnings Results for the Full Year Ended December 31, 2020	21-04-28	CI
EDP Energias de Portugal S A : Portugal selects multi-billion post-coronavirus hydrogen projects	20-07-28	RE
Finerge SA acquired Martifer Renovables Etve Sa from Martifer SGPS, S.A. for €23.5 million.	19-12-17	CI
Martifer Sgps, S.A. Announces Earnings Results for the First Half Ended June 30, 2019	19-08-28	CI
Finerge-Gestão de Projectos Energéticos, S.A. acquired 12.6-MW Vila Franca de Xira and the 6.3-MW Baiao wind parks from Martifer SGPS, S.A. and SPEE 3-Parque Eolico do Baiao, S.A. for €23 million.	19-03-20	CI
A group of investors cancelled the acquisition of Martifer Construções Metalomecânicas and Martifer Alumínios Brasil from Martifer SGPS, SA.	16-10-23	CI
Martifer SGPS, S.A. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Impairment Losses for the Second Quarter Ended June 30, 2016	16-08-24	CI
Voltalia SA acquired Martifer Solar, S.A. from Martifer SGPS, S.A. and other shareholders for €9 million.	16-08-19	CI
Martifer Group Reports Non-Audited Consolidated Earnings Results for the First Quarter Ended March 31, 2016	16-05-24	CI
Martifer SGPS, S.A. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Announces Impairment Losses for the Third Quarter of 2015	15-11-25	CI
A group of investors entered into an agreement to acquire Martifer Construções Metalomecânicas and Martifer Alumínios Brasil from Martifer SGPS, SA.	15-10-23	CI
Martifer SGPS, SA Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015	15-08-26	CI
Martifer SGPS, SA Reports Earnings Results for the Year 2014	15-04-13	CI
Martifer To Sell 55% Of Solar Arm In 2015	15-04-13	CI
Martifer SGPS, SA Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Impairment Losses for the Third Quarter Ended September 30, 2014	14-11-27	CI
Martifer Group Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Impairment Loss for the Second Quarter Ended June 30, 2014	14-08-26	CI
Martifer Group Reports Non-Audited Consolidated Earnings Results for the First Quarter Ended March 31, 2014	14-05-28	CI

Chart Martifer SGPS, S.A.

Duration

Period

More charts

Company Profile

Martifer SGPS, S.A. is a holding company organized around 3 areas of activity: - construction of metal structures (58.3% of net sales; No. 1 in the Iberian Peninsula): for Oil & Gas infrastructure construction sector; - shipbuilding (36.4%); - construction of renewable energy production units and equipment (5.3% of net sales): wind farms, biodiesel production sites, wind tours, aerogenerators, solar energy systems, etc. The group also produces and distributes renewable energy-based electric energy. Net sales are distributed geographically as follows: Portugal (63.1%), Europe (30%) and other (6.9%).

Sector

Renewable Energy Equipment & Services

Calendar

2024-08-28 - Q2 2024 Earnings Release (Projected)

More about the company

Sector Other Renewable Energy Equipment & Services

	1st Jan change	Capi.
MARTIFER SGPS, S.A.	+0.98%	161M
SUNGROW POWER SUPPLY CO., LTD.	+13.33%	20.12B
SIEMENS ENERGY AG	+57.08%	15.74B
TRINA SOLAR CO., LTD.	-27.87%	6.15B
MING YANG SMART ENERGY GROUP LIMITED	-26.32%	2.78B
GOODWE TECHNOLOGIES CO., LTD.	-30.79%	2.16B
ARRAY TECHNOLOGIES, INC.	-26.19%	1.88B
SHENZHEN HOPEWIND ELECTRIC CO., LTD.	-23.12%	1.18B
SMART GÜNES ENERJISI TEKNOLOJILERI ARASTIRMA VE GELISTIRME ÜRETIM SANAYI VE TICARET	+2.81%	1.06B
AZAD ENGINEERING LIMITED	+98.65%	974M

Other Renewable Energy Equipment & Services