Madeira's 500 largest companies raised their turnover by 7.6% in 2025. That was faster than the 5.9% growth of all companies in the region and the 5.3% growth across Portugal.
Together, the 500 companies had a turnover of about €4.4 billion. They employed more than 29,000 people and created about €1.5 billion in gross value added.
Their sales to foreign markets reached €213 million.
The figures were presented by António Barreiros, commercial director of Informa D&B. The company is the knowledge partner of the "500 Biggest and Best Companies in Madeira" initiative.
| 500 biggest | All Madeira companies | Portugal | |
|---|---|---|---|
| Turnover growth, 2025 | 7.6% | 5.9% | 5.3% |
| Turnover growth, 2021-2025 | 78.8% | 56.7% | 36.7% |
| Net margin | 18.5% 2024: 19.5% | 15.5% | 7.6% |
| Return on shareholders' funds | 15.6% 2024: 17.3% | 11.5% | 9.4% |
Sales Rose 78.8% Between 2021 and 2025
The study shows the growth did not start last year. Between 2021 and 2025, the combined turnover of the 500 biggest companies grew by 78.8%.
Over the same period, turnover grew by 56.7% for all companies in Madeira and by 36.7% in Portugal as a whole.
The figures are at current prices, so they are not adjusted for inflation. For the biggest companies, they mean average growth of close to 16% a year.
Net Margin Slipped to 18.5% but Stayed High
In 2025, the net margin of the 500 biggest companies was 18.5%. All Madeira companies had a net margin of 15.5%, and the national average was 7.6%.
In other words, the biggest companies in the region made about €18.50 in net profit for every €100 of turnover, taken together.
The margin did fall from 19.5% in 2024. Return on shareholders' funds also dropped, from 17.3% to 15.6%. It still stayed above the regional figure of 11.5% and the national figure of 9.4%.
Industry Sales Rose 22.7%, Real Estate Fell 3.4%
Sales growth was very different between sectors. Industry had the biggest rise, at 22.7%, followed by retail, at 21.4%.
Wholesale trade grew 13.9%, general services 11.9% and construction 8.7%.
Two sectors went the other way. Real estate activities fell by 3.4%, while information and communication technology saw a small drop of 0.2%.
| Sector | Change |
|---|---|
| Industry | ▲ +22.7% |
| Retail | ▲ +21.4% |
| Wholesale trade | ▲ +13.9% |
| General services | ▲ +11.9% |
| Construction | ▲ +8.7% |
| Information and communication technology | ▼ -0.2% |
| Real estate | ▼ -3.4% |
Four Sectors Hold About Two-Thirds of the Companies
Barreiros pointed to the weight of four areas of activity: retail, accommodation and food services, construction, and wholesale trade.
Together, these four areas account for about two-thirds of the 500 companies, and for about two-thirds of their turnover.
Eleven Companies Report Turnover Above €50 Million
The study found 11 companies with turnover above €50 million. It found 51 companies with at least 100 workers.
About 61% of the companies have been in business for over 20 years. One in five has a family management structure.
The report on the study does not name individual companies. The table below lists some well-known Madeiran companies in alphabetical order. It is not the study's ranking.
| Company | Sector |
|---|---|
| AFA Group (Afavias) | Construction, civil engineering and concessions |
| Dakinvest - Empreendimentos Imobiliários | Real estate |
| Empresa de Cervejas da Madeira (ECM) | Beverage manufacturing |
| Grupo Sousa (GS Marítima / Logislink) | Shipping, ports and logistics |
| Justino's Madeira Wines | Wine production |
| Lido Sol II - Distribuição de Produtos Alimentares | Food distribution and commerce |
| M. & J. Pestana - Sociedade de Turismo da Madeira (Pestana Group) | Hotels and tourism |
| Madeira Inerte - Extracção de Saibro | Gravel extraction and building materials |
| Savoy - Investimentos Turísticos (Savoy Signature, AFA Group) | Hotels and tourism |
| Tecnovia Madeira | Construction and public works |
Only 12% of the Companies Do Business Abroad
International business remains limited. Only 12% of the companies do business in foreign markets.
Foreign markets make up 4.8% of the combined turnover of the 500 biggest companies.
About 77% Show High or Medium-High Financial Resilience
Informa D&B also looked at financial strength. It concluded that about 77% of the companies it assessed show high or medium-high levels of resilience.
About 37% received high or medium-high ratings on environmental, social and governance (ESG) indicators.
| Value | |
|---|---|
| Combined turnover | about €4.4 billion |
| Workers | more than 29,000 |
| Gross value added | about €1.5 billion |
| Sales to foreign markets | €213 million |
| Companies with turnover above €50 million | 11 |
| Companies with at least 100 workers | 51 |
| Companies more than 20 years old | about 61% |
| Family-managed companies | 20% |
| Companies doing business abroad | 12% |
| High or medium-high resilience | about 77% |
| High or medium-high ESG rating | about 37% |
Source: dnoticias.pt
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