Growth

Portuguese Development Bank Distributes €72 Million in Advance Payments to Over 1,100 Companies

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Banco Português de Fomento made advance payments of 72 million euros to 1,113 companies under the IFIC program covering reindustrialization, defense and security, and AI sectors. This represents 30% of approved support, with remaining 70% to be paid upon validation of expenses during investment execution. The bank has approved projects for nearly 3,000 companies totaling over 2.2 billion euros in investment, with approximately 1,500 contracts currently in execution representing 436 million euros in eligible investment.

Portuguese Retail Giant Sonae Posts 11% Profit Growth in Q1 2026, Achieves Record Quarterly Revenue

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Sonae, the Portuguese retail conglomerate, reported strong Q1 2026 results with 47 million euros in profits (up 11% YoY) and record quarterly consolidated revenue of 2.7 billion euros. The company achieved improved profitability with EBITDA margins expanding from 9.8% to 10.4%, driven by growth across all retail operations and store expansion. Net debt decreased to 1.7 billion euros, reflecting strong cash flow generation and continued deleveraging.

European Banking Consortium Expands Qivalis to 37 Members Ahead of Euro Stablecoin Launch

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Qivalis, a consortium of European banks based in Amsterdam, has expanded to 37 member institutions from 15 countries to develop a euro-denominated stablecoin as an alternative to dollar-dominated stablecoins. The initiative plans to launch a regulated stablecoin in the second half of 2024, subject to regulatory approval. Portuguese banks are notably absent from the project so far, though it includes major banks from Spain, France, Italy, and Nordic countries.

Major French Companies Form AION Consortium to Compete for European AI Gigafactories Program

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A consortium of major French companies including investment firm Ardian, telecommunications company Orange, energy company EDF, consulting firm Capgemini, and others have formed AION to bid for the European AI Gigafactories program, representing France’s acceleration in AI infrastructure development

Limenet and Fassa Bortolo Launch 5 Million Euro Partnership to Develop Electric Kiln for Low-Emission Lime Production

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Limenet, a startup developing decarbonization technologies for hard-to-abate industries, partnered with Italian building materials group Fassa Bortolo on a 5 million euro co-development project for an electric kiln that reduces lime production emissions by approximately 22% compared to traditional fossil fuel methods. The deal follows a 7 million euro equity investment in Limenet by CDP Venture Capital and Fassa Bortolo in December 2025.

Portugal Authorizes €410.68 Million Railway Modernization Project for Alentejo Line

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The Portuguese government authorized Infraestruturas de Portugal to implement a phased payment schedule for the modernization of the Alentejo Railway Line. The project involves a 410.68 million euro investment to replace and electrify 63 kilometers of track between Casa Branca and Beja, enabling speeds of up to 200 km/h for passenger trains and 120 km/h for freight. Disbursements will run from 2027 to 2033, with the government seeking additional European funding through Portugal 2030 and other EU financing instruments.

Portugal Consolidates AI Gigafactory Plans in Sines, Scraps Secondary Pego Hub

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Portugal’s Iberian candidacy for a European Commission AI gigafactory project will concentrate all operations in Sines rather than establishing a secondary hub in Pego. The €8 billion investment from public and private funds will create an AI infrastructure facility with 150 MW computing capacity, expected to be fully operational by 2028. Spain’s location is Tarragona in Catalonia.

Portuguese Festive Lighting Company Launches Ice Show Expansion Into Spain

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AM Experience by MK Illumination, a Portuguese company based in Braga specializing in festive illuminations and ice shows, reported 8 million euros in revenue for 2025, up from 6.8 million in 2024. The festive lighting division generated 5 million euros with 2.6 million from Spain operations. The company is expanding its ice show concept to Spain, launching in PuertoVenecia shopping center in Zaragoza in November with plans to expand to Madrid, Barcelona, Seville, Corunha and Bilbao. The ice show is expected to attract 60,000 spectators and generate 1 million euros in revenue over seven weeks.

HelloPrint Reports Nearly 80 Million Euro Revenue as Dutch Print Platform Doubles Down on AI Transformation

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HelloPrint, a Rotterdam-based online print platform, reported revenue growth to approximately 80 million euros in 2025 with 21% operational profit increase. The company bought back shares from early investors and continues its AI-first transformation across 14 countries and 160 employees serving 700,000 customers.