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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 1S2018 1S2017 2017 2016
Sales M€ 399,9354,8701,6641,4
Gross Margin M€ 207,0192,1373,5334,7
Gross Margin / Prodution % 49,353,352,9%53,2%
External Supplies M€ 61,256,0116,5103,0
Staff Costs M€ 71,063,6125,6113,3
Other Operating Costs (includes depreciation) M€ 13,917,727,422,4
EBITDA M€ 77,470,6133,6122,3
EBITDA / Sales % 19,419,919,0%19,1%
EBIT M€ 60,954,8104,096,0
Net Income M€ 41,237,873,0102,7
Balance Sheet Unit 1S2018 1S2017 2017 2016
Total non-current assets M€ 284,6226,9274,2231,7
Inventories M€ 356,7281,2359,1268,7
Trade receivables M€ 202,8173,0167,6141,9
Other current assets M€ 87,896,468,584,6
Total current assets M€ 647,3550,5595,2495,2
Total Assets M€ 931,9777,5869,4726,9
Equity M€ 475,0439,9460,0426,9
Bank borrowings M€ 40,937,748,138,6
Provisions M€ 38,829,941,330,7
Other non-current liabilities M€ 44,523,544,016,9
Total non-current liabilities M€ 124,291,1133,486,2
Bank borrowings M€ 83,734,861,748,4
Trade payables M€ 160,6138,4157,1110,0
Other current liabilities M€ 88,473,358,755,4
Total current liabilities M€ 332,6246,5276,1213,8
Total Liabilities and Equity M€ 931,9777,5869,4726,9
Data per share Unit 1S2018 1S2017 2017 2016
Number of shares shares 133.000.000133.000.000133.000.000133.000.000
Earnings per share 0,3100,2840,5490,772
Book value per share 3,5713,3073,4593,210
Share price (period-end) 11,22012,86010,3008,500
Market Capitalisation (period-end) M€ 1.492,31.710,41.369,91.130,5
Debt & Ratios Unit 1S2018 1S2017 2017 2016
Net Debt M€ 102,111,192,835,9
Net Debt/EBITDA X 0,730,090,690,29
EBITDA/Net Interest X 136,6230,3135,9108,6
Equtity/Net Assets % 51,0%56,6%52,9%58,7%
Gearing % 21,5%2,520,2%8,4%
Net Working Capital (NWC) M€ 388,9299,5361,1286,6
NWC / Market Capitalization % 26,1%17,5%26,4%25,4%
NWC / Sales x 360 X 189,0152,0179,5160,9
Free Cash Flow (FCF) M€ 25,340,334,086,9
Capex M€ 23,414,343,733,6
Return on Invested Capital (ROIC) % 15,3%17,9%15,0%16,9%
Average cost of debt % 1,40%1,64%1,67%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