More than 70% of companies reported a reduction in turnover in the second quarter

According to the BdP / INE survey, companies that recorded a drop in turnover dropped from 80% in April to 66% in the second half of June.

The percentage of companies reporting a reduction in turnover, in view of the expected situation without a pandemic, was 74% in the second quarter of this year, falling from 80% in April to 66% in the second half of June. Currently, only 7% of the surveyed companies recorded an increase in turnover in the same period.

According to the “Quick and Exceptional Business Survey”, conducted by Banco de Portugal (BdP) and the National Statistics Institute (INE), released this Wednesday, the percentage of companies in operation, even if partially, was fixed an average of 90% in the second quarter of 2020. During the second half of June, this figure increased to 96%. The impact of the pandemic on the functioning of companies was more evident in accommodation and restaurants, with an average of 57% of companies in this sector operating in the same period.

The data also indicates that, during the second quarter, 48% of the companies reported reductions in the number of staff actually working, despite an improvement, decreasing from 59% in April to 38% in June. The most evident improvement was in the transport and storage sector, with a fall from 70% in April to 39% in June.

As for the measures presented by the Government, the BdP / INE survey reveals that there was an increase in companies that it considers to have benefited, however, the value of entities that reported not benefiting or planning to benefit from the measures presented by the Government remained high in the second quarter.

“Specifically, the proportion of companies that benefited from each measure increased: from 11% in April to 22% in June, in the case of suspension of payment of tax and contributory obligations; from 10% to 19% in the case of the moratorium on the payment of interest and capital on existing credits; and from 3% to 13% in access to new credits with subsidized interest or State guarantees ”, reads in the document's conclusions.

Regarding the entities that contradict this reality, BdP / INE indicates that the percentage of companies varies between 52% and 61% depending on the measure.

With regard to the teleworking regime, the survey concludes that 46% of the responding companies had teleworking employees in the second half of June, with 9% having more than 75% of the staff actually employed in this regime. Large companies were the hardest hit (85%) and the information and communication sector was the one that most adhered to this regime.

The National Institute of Statistics and Banco de Portugal launched, last April, the Quick and Exceptional Business Survey - Covid-19 (COVID-IREE), with the aim of identifying some of the main effects of the COVID-19 pandemic on business activity, based on a quick response questionnaire.

During this fortnight, questions about turnover, personnel employed, personnel employed in telework and with alternate presence on the company's premises and the use of public support instruments were maintained.

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