José Avelino Aguiar Farinha, who is, currently, the Chairman of the Board of Directors and sole shareholder, was one of the founders of the AFA Group, in 1980 in the Autonomous Region of Madeira, with the establishment of Avelino Farinha & Agrela, Lda. (presently AFAVIAS, S.A.). Today the AFA Group is a consolidated international business holding interests in various entrepreneurial areas. For 2018, the consolidated assets of the AFA Group totalled to 584 462 564 euros.
The construction and engineering sector are, until this day, the main business areas of the group, contributing to the largest percentage of its turnover, through AFAVIAS and CTM.
This sector was also the responsible for the Group’s internationalisation strategy, and it is in the African continent that the greatest interests of the AFA Group are concentrated. The international expansion started in 2007 in Mauritania and Senegal. Concurrently, AFAVIAS set up in Angola with the establishment of its first branch.
Continuing the expansion policy implemented at the AFA Group for the purpose of diversifying its business areas, in 2015 the Group makes the biggest investment in the hotel unit sector, through the acquisition of three hotels and the Savoy brand in Portugal. This business area presently comprises six hotel units.
The complementarity between the sectors of civil construction and real estate promotion has lead this latter area to be considered one the Group’s three central pillars.
AFA Group is, as well, currently present in other business areas, namely in the executive aviation, media, waste management, cement commercialisation, commercialisation and extraction of inerts and in the roads concessions, among others.