Economy Secretary Sees Signs of Cooling in Madeira's Economy

Madeira's Secretary for Economy, José Manuel Rodrigues, says there are signs that the regional economy is slowing down. Rodrigues linked them to the war in the Middle East, the energy crisis and the effect of fuel prices on companies and families.

"There are some signs of economic cooling that we have to watch, which have to do with this war in the Middle East, with the energy crisis and with the impact of fuel prices on the lives of companies and also on the lives of families."

José Manuel Rodrigues, Secretary for Economy

The comments were made at the awards ceremony of the 500 Biggest and Best Companies of Madeira, an initiative of the Diário de Notícias newspaper. The heads of Grupo Sousa and the Savoy group also spoke.

Corporate Tax Rate to Fall From 13.3% to 12.6%

Rodrigues said the next regional budget will include measures to respond to the situation. RTP Madeira reports that the secretary pointed to the tax benefits for 2027.

The general rate of corporate tax (IRC) will fall from 13.3% to 12.6%. Rodrigues also named a rate of 8.75% for the north coast of Madeira and for the island of Porto Santo.

Grupo Sousa Counts Among the World's 100 Biggest Shipowners

Luís Miguel Sousa, president of Grupo Sousa, spoke about the group's plans for the future.

We are the biggest maritime logistics operator, we are the biggest national shipowner, we are among the 100 biggest shipowners in the world.

Luís Miguel Sousa, President of Grupo Sousa

Sousa said the five biggest shipowners in the world hold 60% of global supply capacity, and the seven biggest hold 85%. That shows how small the group is, Sousa said.

Even so, the group competes with them in specific niche markets, and plans to keep growing there.

Group With €300 Million in Turnover Keeps Its Energy Plans

Grupo Sousa currently has a turnover of €300 million, according to RTP Madeira.

In energy, Sousa said the group will keep its current choices: renewable energy from wind and solar, and energy from thermal sources.

It will also continue to transport liquefied natural gas (LNG) from Sines to where it is used to produce electricity. Sousa described this as an operation that is unique in the world for its size.

Savoy Group Reported €107 Million in Turnover Last Year

The Savoy group had a turnover of €107 million last year, according to RTP Madeira. Its executive director, Roberto Santa Clara, said the main challenge is to stay on the same path.

If I consider that the first secret is the people, the challenge is also the people.

Roberto Santa Clara, Executive Director of the Savoy group

Santa Clara said the group has been growing step by step and now has this recognition. It runs hotels in Madeira and has goals for growth.

The challenge, Santa Clara said, is to keep this consistency and ambition. That includes what makes its projects different: the atmosphere, the design and the type of product.

Santa Clara said its product is about quality and high-value customers. The challenge is to stay true to this strategy while adapting to the market.

63 Companies Received 83 Awards at the 37th Edition

The 37th edition of the awards recognised 63 companies, with 83 prizes in total, Diário de Notícias reports. The rankings look at size, profitability, growth, contribution to the economy and financial balance.

Savoy - Investimentos Turísticos won the "Biggest and Best" award. It was also named best in the hotel sector, for the third year in a row.

Sousapar - Grupo Sousa Participações received the "Consolidated" award. Fresh IP, Unipessoal was named "Rookie".

The study behind the awards found that Madeira's 500 biggest companies grew their turnover by 7.6% in 2025, to about €4.4 billion.

Source: madeira.rtp.pt

Source: dnoticias.pt