Corticeira Amorim, S.G.P.S., S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 29, 2022 at 03:05 pm EST
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Corticeira Amorim, S.G.P.S., S.A. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was EUR 244.78 million compared to EUR 203.81 million a year ago. Net income was EUR 16.59 million compared to EUR 18.6 million a year ago. Basic earnings per share from continuing operations was EUR 0.125 compared to EUR 0.14 a year ago.
For the nine months, sales was EUR 790.3 million compared to EUR 637.13 million a year ago. Net income was EUR 64.16 million compared to EUR 58.03 million a year ago. Basic earnings per share from continuing operations was EUR 0.482 compared to EUR 0.436 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. 
