Corticeira Amorim, S.G.P.S., S.A. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 30, 2023 at 10:49 am EDT
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Corticeira Amorim, S.G.P.S., S.A. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was EUR 259.89 million compared to EUR 263.55 million a year ago. Net income was EUR 23.77 million compared to EUR 20.1 million a year ago.
Basic earnings per share from continuing operations was EUR 0.179 compared to EUR 0.151 a year ago.
Tracing its roots back to the 19th century, Corticeira Amorim, SGPS, S.A. has become the world's largest cork and cork-derived company in the world, generating more than EUR 985.5 million in sales to more than 100 countries through a network of dozens of fully owned subsidiaries. With a multi-million Euro R&D investment per year, Corticeira Amorim, SGPS, S.A. has applied its specialist knowledge to this centuries-old traditional culture, developing a vast portfolio of products, solutions and materials that are used by blue-chip clients in industries as diverse and demanding as wines & spirits, aerospace, automotive, construction, sports, architecture and design.
Net sales by business unit break down between Cork Stoppers (75.9%), Composite Cork (12%), Floor and Wall Coverings (9.1), Insulation Cork (1.6%) and Raw Materials (1.4%).
Net sales are distributed geographically as follows: Portugal 6.8%), EU excluding Portugal (61.8%), Other European countries (2%), the United States (16.4%), America excluding the United States (6.5%), Australasia (5.1%) and Africa (1.4%).
Corticeira Amorim, SGPS, S.A.'s responsible approach to raw materials and sustainable production illustrates the remarkable interdependence between industry and a vital ecosystem - one of the world's most balanced examples of social, economic and environmental development.
CORTICEIRA AMORIM, SGPS, S.A. 
