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Corticeira Amorim

Tracing its roots back to the 19th century, Amorim has become the world’s largest cork and cork-derived company in the world, generating more than Euro 700 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, Amorim has applied its specialist knowledge to this centuries-old traditional culture, developing a vast portfolio of 100% sustainable products that are used by blue-chip clients in industries as diverse and demanding as wines & spirits, aerospace, automotive, construction, sports, interior and fashion design.

Amorim’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.

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Sales| EBITDA | Margin EBITDA / Sales

Sales| EBITDA | Margin EBITDA / Sales

Key Figures

Income Statement Unit 1T2018 1T2017 2017 2016
Sales M€ 185,4171,7701,6641,4
Gross Margin M€ 100,095,0373,5334,7
Gross Margin / Prodution % 52,8%52,6%52,9%53,2%
External Supplies M€ 29,827,9116,5103,0
Staff Costs M€ 35,131,6125,6113,3
Other Operating Costs (includes depreciation) M€ 6,310,027,422,4
EBITDA M€ 36,833,6133,6122,3
EBITDA / Sales % 19,9%19,5%19,0%19,1%
EBIT M€ 28,725,5104,096,0
Net Income M€ 18,817,273,0102,7
Balance Sheet Unit 1T2018 1T2017 2017 2016
Total non-current assets M€ 279,8228,9273,8231,7
Inventories M€ 352,9262,4359,1268,7
Trade receivables M€ 179,7161,4167,6141,9
Other current assets M€ 74,688,671,784,6
Total current assets M€ 607,2512,5598,5495,2
Total Assets M€ 887,0741,4872,3726,9
Equity M€ 479,3444,2459,0426,9
Bank borrowings M€ 40,737,852,038,6
Provisions M€ 41,931,041,230,7
Other non-current liabilities M€ 43,024,142,716,9
Total non-current liabilities M€ 125,692,9135,886,2
Bank borrowings M€ 63,728,257,848,4
Trade payables M€ 144,8107,5161,1110,0
Other current liabilities M€ 73,468,658,755,4
Total current liabilities M€ 282,1204,3277,5213,8
Total Liabilities and Equity M€ 887,0741,4872,3726,9
Data per share Unit 1T2018 1T2017 2017 2016
Number of shares shares 133.000.000133.000.000133.000.000133.000.000
Earnings per share 0,1420,10,5490,772
Book value per share 3,363,33,4513,210
Share price (period-end) 10,410,010,3008,500
Market Capitalisation (period-end) M€ 1383,31330,01.369,91.130,5
Debt & Ratios Unit 1T2018 1T2017 2017 2016
Net Debt M€ 92,811,792,835,9
Net Debt/EBITDA X 0,690,10,690,29
EBITDA/Net Interest X 135,9238,0135,9108,6
Equtity/Net Assets % 52,9%59,9%52,6%58,7%
Gearing % 20,2%2,6%20,2%8,4%
Net Working Capital (NWC) M€ 361,1325,5361,1286,6
NWC / Market Capitalization % 26,4%0,226,4%25,4%
NWC / Sales x 360 X 179,5160,1179,5160,9
Free Cash Flow (FCF) M€ 34,017,234,086,9
Capex M€ 43,75,743,733,6
Return on Invested Capital (ROIC) % 15,0%0,215,0%16,9%
Average cost of debt % 1,67%0,01,67%1,8%
NOTES

Net Debt/EBITDA considering the EBITDA of the last four quarters
NWC = Inventories + Trade receivables + Other operating assets - Trade payables - Other operating liabilities
FCF = EBITDA - Non-current cash expenditures - Net financing expenses - Income tax - Capex - NWC variation

Corticeira Amorim, SGPS, S.A.

Rua de Meladas, 380 - P.O. Box 20
4536-902 MOZELOS VFR - PORTUGAL
Investor Relations
Tel.: +351 227 475 400
Fax.: +351 227 475 407
corticeira.amorim@amorim.com

LATEST DISCLOSURES

Sales grow 9.4% to more than €700 million

2018-04-13
  • EBITDA reaches €133.6 million, an increase of 9.2%
  • Net profit of €73 million, in line with the previous year (excluding the impact of the sale of US Floors in 2016)
  • Bourrassé contributed to the 2017 results with six months of activity
  • Proposal to distribute a gross dividend of €0.185 per share 

Consolidated Accounts