The Bank of Portugal has updated its annual economic and financial indicators for non-financial corporations through 2024 in the Sector Tables and BPstat. The release points to stronger equity positions and higher financial autonomy, alongside slightly weaker profitability and a further increase in financing costs. Corporate turnover rose 3.3% year on year, with the largest increases in construction and real estate (8.5%) and accommodation and food services (8.4%), while electricity, gas and water fell 16.7% in line with Iberian electricity market price dynamics. EBITDA increased 2.5%, but the EBITDA margin edged down to 13.4% (down 0.1 percentage points) as personnel expenses grew 8.5%; EBITDA declined in electricity, gas and water (down 4.6%) and in industry (down 4.3%). Returns fell to 9.3% for return on assets (from 9.5%) and to 9.4% for return on equity (from 10.3%). Financing costs reached 5% at end-2024 (up 0.4 percentage points versus end-2023), with the lowest-cost quartile rising at most to 2.2% and the highest-cost quartile at 7.9% or above; interest coverage slipped to 7.2 times (from 7.5). Financial autonomy increased to 44.3% (from 42.8%), and risk metrics improved modestly, including a drop to 13.5% in firms unable to cover financing costs with EBITDA. The next update is scheduled for 6 October 2026.
Bank of Portugal 2025-10-03
Bank of Portugal updates 2024 non-financial corporate indicators with turnover up 3.3% and financial autonomy at 44.3%
The Bank of Portugal updated its economic indicators for non-financial corporations through 2024, noting stronger equity and financial autonomy despite weaker profitability and rising financing costs. Corporate turnover grew by 3.3%, with increases in construction, real estate, accommodation, and food services, while electricity, gas, and water sectors declined. EBITDA rose by 2.5%, but the margin decreased slightly due to higher personnel expenses, and financing costs increased to 5% by the end of 2024.