Maio 2016
Economic and financial indicators of the private non-financial corporations(1)(to be continued)
A.22
Source: Banco de Portugal
2010
2011
2012
2013
2014
(In percentage, unless otherwise indicated)
1
2
3
4
5
Coverage rates for the CBSD data
1
Number of corporations ………………………………………………………………………………………………………………………………
95.9
97.5
97.5
97.6
94.8
2
Turnover ………………………………………………………………………………………………………………………………
99.5
99.5
99.3
95.5
97.7
Ratios of profitability
1.1
0.0
2.8
3.1
4
Return on equity ……………………………………………………………………………………………………………………………… 10.1
Operational and financial components ………………………………………………………………………………………………………………………………
5.2
2.6
2.4
3.2
3.3
5
Borrowing component (in units) ………………………………………………………………………………………………………………………………
2.4
1.3
0.9
1.6
1.7
Fiscal effect (in units) ………………………………………………………………………………………………………………………………
0.8
0.3
0.0
0.6
0.5
3
6
7
Return on assets ………………………………………………………………………………………………………………………………
3.2
0.3
0.0
0.9
1.0
8
Return on investment ………………………………………………………………………………………………………………………………
6.4
2.8
2.5
3.6
3.7
9
Operating profitability (on investments) ………………………………………………………………………………………………………………………………
11.5
7.7
7.2
8.4
8.7
10
Net profits / Revenues ………………………………………………………………………………………………………………………………
4.4
0.5
0.0
1.3
1.4
11.3
EBITDA(2) / Revenues ………………………………………………………………………………………………………………………………
7.7
7.6
8.8
8.6
64
11
Ratios of activity (number of days)
12
Accounts receivables in days ………………………………………………………………………………………………………………………………
70
69
69
67
13
Accounts payables in days ………………………………………………………………………………………………………………………………
76
73
73
71
68
14
Days sales of inventories ………………………………………………………………………………………………………………………………
156
149
146
135
124
Ratios of funding and debt service
15
4.8
Obtained funding / EBITDA(2) (in units) ………………………………………………………………………………………………………………………………
7.3
8.0
6.8
6.4
16
6.1
EBITDA(2) / Interest expenses (in units) ………………………………………………………………………………………………………………………………
3.3
2.9
3.5
3.8
17
Interest expenses / Obtained funding ………………………………………………………………………………………………………………………………
3.4
4.2
4.3
4.2
4.1
18
Interest expenses / Turnover ………………………………………………………………………………………………………………………………
2.0
2.5
2.8
2.6
2.4
Ratios of financial structure
19
Liabilities / Equity (in units) ………………………………………………………………………………………………………………………………
2.2
20
Current ratio ………………………………………………………………………..……………..………………..………………………… 118.6
21
Acid ratio ………………………………………………………………………………………………………………………………
22
Short term debt / Liabilities ………………………………………………………………………………………………………………………………
59.2
23
Financial leverage ………………………………………………………………………………………………………………………………55.1
81.3
2.3
2.3
2.3
2.3
116.7
117.3
120.1
123.6
80.5
82.6
86.5
90.4
58.9
57.8
55.8
55.0
56.3
57.5
56.5
55.6
Distribution of revenues
24
Suppliers ………………………………………………………………………………………………………………………………………………..
72.7
75.0
75.0
74.5
74.2
25
Employees ………………………………………………………………………………………………………………………………………………..
12.7
13.0
13.0
12.9
12.7
26
Banks and other lenders ………………………………………………………………………………………………………………………………………………..
1.9
2.3
2.7
2.5
2.3
27
Government ………………………………………………………………………………………………………………………………………………..
1.3
1.2
1.2
1.2
1.3
28
Corporation, self-financing ………………………………………………………………………………………………………………………………………………..
8.9
5.6
5.2
6.1
6.0
29
Other ………………………………………………………………………………………………………………………………………………..
2.5
2.9
2.9
2.8
3.5
Return on equity
In percentage
12
Ratios of funding and debt service
7
6
8
5
Interest Expenses /
Obtained funding
(in percentage)
4
2012
4
2014
2010
3
0
2010
2011
2012
2013
Operational and financial components
Borrowing component
Fiscal effect
Return on equity
(1) Exclude non-financial holdings. For more information on ratios, see metadata available in BPstat.
(2) Earnings before depreciations and amortizations, interest expenses and income tax.
2014
2
1
1
2
3
4
5
EBITDA / Interest expenses (units)
6
7
65
66
BANCO DE PORTUGAL • Boletim Estatístico
Economic and financial indicators of the private non-financial corporations(1)(continued)
A.22
Source: Banco de Portugal
2010
2011
2012
2013
2014
(In percentage)
1
2
3
4
5
30
Equity ……………………………………………………………………………………………………………………………… 31.2
30.4
29.9
30.3
30.7
31
Securities market ………………………………………………………………………………………………………………………………
4.0
3.9
4.5
4.9
4.6
32
Loans ……………………………………………………………………………………………………………………………………….
34.3
35.4
36.0
34.6
33.8
20.6
19.1
18.1
17.0
14.0
13.9
14.2
2.8
2.6
2.6
11.8
11.2
10.9
10.9
18.6
18.3
19.4
20.1
83 594
79 388
2.0
2.0
Sources of funding (in % of assets)
33
Credit institutions ………………………………………………………………………………………………………………………………
21.3
34
Participated and participant companies ………………………………………………………………………………………………………………………………
11.1
12.4
35
Other funders …………………………………………………………………………………………………………………………………………………
1.9
2.4
36
Trade creditors ……………………………………………………………………………………………………………………………………….
12.0
37
Others ……………………………………………………………………………………………………………………………… 18.5
(In million euros unless otherwise indicated)
Domestic loans granted by resident credit instituitions
38
Total loans ………………………………………………………………………………………………………………………………………………..
103 270
39
Average number of financial institutions per borrower
(in units)
99 194
90 270
………………………………………………………………………………………………………………………………………………..
2.1
2.1
2.0
Total loans, by original maturity
40
Up to 1 year ………………………………………………………………………………………………………………………………………………..
8 002
6 672
5 830
5 476
6 168
41
More than 1 year ………………………………………………………………………………………………………………………………………………..
71 423
69 512
65 872
61 946
59 755
42
23 844
23 010
Undetermined (2) ………………………………………………………………………………………………………………………………………………..
18 568
16 171
13 464
Total loans, by residual maturity
43
Up to 1 year ………………………………………………………………………………………………………………………………………………..
16 063
16 224
12 568
10 048
10 376
44
More than 1 year ………………………………………………………………………………………………………………………………………………..
58 626
54 311
51 053
47 857
45 727
45
28 581
28 659
Undetermined (2) ………………………………………………………………………………………………………………………………………………..
26 649
25 690
23 284
11.1
14.2
15.8
3.6
3.1
2.4
7.6
11.1
13.4
30.3
30.8
………………………………………………………………………………………………………………………………………………..
19.5
20.1
21.0
17.7
16.5
(In percentage)
Risk indicators
Loans in default granted by resident credit instituitions
4.9
7.4
Overdue loans ratio (3) ………………………………………………………………………………………………………………………………………………..
46
47
1.7
2.7
Overdue loans ratio - up to 1 year (3) ………………………………………………………………………………………………………………………………………………..
48
Overdue loans ratio - over 1 year
(3)
3.3
4.7
………………………………………………………………………………………………………………………………………………..
Borrowers with overdue loans (in % of number of borrowers) ………………………………………………………………………………………………………………………………………………..
20.5
24.7
28.9
49
50
Corporations with interest expenses > EBITDA
51
Corporations with negative EBITDA (in % of number of corporations) ………………………………………………………………………………………………………………………………………………..
32.3
36.3
39.1
36.4
35.5
52
Corporations with negative net profits (in % of number of corporations) ………………………………………………………………………………………………………………………………………………..
41.0
44.7
47.8
44.0
42.5
53
Corporations with negative equity (in % of number of corporations) ………………………………………………………………………………………………………………………………………………..
25.0
27.2
29.2
29.3
29.3
54
Liabilities of corporations with interest expenses > EBITDA
………………………………………………………………………………………………………………………………………………..
21.2
26.8
29.4
23.9
24.1
(in % of number of corporations)
(in % of liabilities)
Loans in default
In percentage
14
12
10
8
6
4
2
2011
2012
2013
2014
In percentage of the number of corporations
16
2010
Risk indicators
60
18
50
40
30
20
10
0
2010
2011
2012
2013
Overdue loans ratio up to 1 year
Corporations with negative EBITDA
Overdue loans ratio over 1 year
Corporations with negative net profits
Overdue loans ratio
Corporations with negative shareholder capital
Corporations with interest expenses > EBITDA
(1) Exclude non-financial holdings. For more information on ratios, see metadata available in BPstat.
(2) The undetermined maturity category includes loans for which the assignment of the original maturity is not possible. It may include among others the financial products, credit on current accounts and overdrafts.
(3) Ratio between overdue loans and the total amount of loans.
2014