Martifer (MAR) H1 2026 earnings summary

Executive summary

• Operating income reached €145.7M, up 3% year-on-year, with 67% generated outside Portugal, reflecting strong international presence.

• EBITDA was €10.0M (7% margin), down 38% year-over-year, impacted by one-off provisions.

• Net result was negative at €7.9M, mainly due to a €10.4M provision for a legal settlement in the UK and a €0.6M provision for the Arena da Amazónia project.

• Order book for Metallic Constructions and Naval Industry stood at €579M at period end.

Financial highlights

• EBITDA margin was 7.1% on turnover of €140.8M, down from 12.0% YoY.

• Gross Value Added was €34M, representing 24% of turnover.

• Gross debt increased by €8M to €95.5M; net debt rose by €11M to €58.3M compared to December 2025.

• Equity stood at €61.5M, with €57.6M attributable to the Group.

• EPS: -€0.081 (vs. €0.082 in 1H25).

Outlook and guidance

• Horizon 2030 Strategic Plan aims for sustainable growth, competitiveness, and value creation through international expansion and leveraging energy transition opportunities.

• Focus on expanding international presence, operational excellence, digital transformation, and accelerating renewables.

• ESG and sustainability integrated into long-term value creation.