Martifer SGPS, SA (Martifer) has reported revenues of EUR901.9 million for the year-end 2008, up 74%, compared with the revenues of EUR518.5 million in the previous year-end. It has also reported net profit of EUR7.7 million for the year-end 2008, down 71%, compared with the net profit of EUR26.2 million in the previous year-end.
Consolidated EBITDA grew 81% to EUR67,1 million corresponding to a CAGR of 63% over last 3 years.
The Metallic Constructions business area fully achieved its objectives for 2008, with EUR323,6 Million revenues and an EBITDA growth of 20% t million EUR34,7 million. This performance is the result of a geographical expansion strategy (Romania, Ireland and Angola) and the focus of more complex and added value projects.
Energy Systems presented EUR313,5 million revenues and EUR26,4 million EBITDA, representing a strong growth when compared to 2007 (respectively +176% and +168%). In 2008 it completed all industrial units as scheduled, both in the wind power cluster and the photovoltaic plant.
Electricity Generation followed its investment plan in wind farms and solar parks as planned, with an investment of EUR140 million in 2008, namely in Spain, Poland, Romania, Brazil and Portugal.
With EUR268,3 million revenues and EUR5,4 million EBITDA, Agriculture and Biofuels performance was affected by external factors, namely biodiesel regulation in Portugal and strong volatility of raw materials prices, biodiesel prices and exchange rates.