Corticeira Amorim Results, Q1 2016

Page created: Tuesday, 10 May 2016 10:37GMT | Updated: Tuesday, 10 May 2016 10:38GMT

Press Release:  10 May 2016 - 27 Page(s)
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Corticeira Amorim  Results Q1 2016
  • Consolidated sales reached 156.7 million euros (M€), an increase of 9.3 M€ (+6.3%);
  •  Growth justified by the volume and mix effect. Exchange rate effect with residual impact on sales;
  • All Business Units (BU) registered sales growth, either total or to end customers. Especially Cork Stoppers BU (+7.8%) and Floor & Wall Coverings BU (+4.1%), and this BU managed to regain a positive trend of its sales;  –
  • Increased sales and flat operating costs justifies an increase of 15.9% in EBITDA (27.6 M€ vs. 23.8 M€); –
  •  EBITDA / Sales: 17.6% (1Q15 = 16.2% and 2015 = 16.7%); Improvement coming from Cork Stoppers + RM ratio, in particular improvement of the ratio of the Floor & Wall Coverings and Cork Composites;
  •  Net profit reached 13,913 M€ (+64.7%).