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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 9M2018 9M2017 2017 2016
Sales M€ 583,8531,5701,6641,4
Gross Margin M€ 297,7284,4373,5334,7
Gross Margin / Prodution % 49,253,352,9%53,2%
External Supplies M€ 90,685,7116,5103,0
Staff Costs M€ 102,092,3125,6113,3
Other Operating Costs (includes depreciation) M€ 20,322,727,422,4
EBITDA M€ 108.4105,4133,6122,3
EBITDA / Sales % 18.619,819,0%19,1%
EBIT M€ 84.883,6104,096,0
Net Income M€ 58.656,473,0102,7
Balance Sheet Unit 9M2018 9M2017 2017 2016
Total non-current assets M€ 292,9266,1274,2231,7
Inventories M€ 418,7366,7359,1268,7
Trade receivables M€ 179,4171,8167,6141,9
Other current assets M€ 80,082,568,584,6
Total current assets M€ 678,1621,0595,2495,2
Total Assets M€ 971,0887,1869,4726,9
Equity M€ 492,2453,0460,0426,9
Bank borrowings M€ 44,153,448,138,6
Provisions M€ 36,830,541,330,7
Other non-current liabilities M€ 44,945,144,016,9
Total non-current liabilities M€ 125,8129,0133,486,2
Bank borrowings M€ 89,856,161,748,4
Trade payables M€ 179,8168,9157,1110,0
Other current liabilities M€ 83,580,158,755,4
Total current liabilities M€ 353,0305,2276,1213,8
Total Liabilities and Equity M€ 971,0887,1869,4726,9
Data per share Unit 9M2018 9M2017 2017 2016
Number of shares shares 133.000.000133.000.000133.000.000133.000.000
Earnings per share 0,4410,4240,5490,772
Book value per share 3,4593,4023,4593,210
Share price (period-end) 11,50011,86510,3008,500
Market Capitalisation (period-end) M€ 1.529,51.578,51.369,91.130,5
Debt & Ratios Unit 9M2018 9M2017 2017 2016
Net Debt M€ 104,775,892,835,9
Net Debt/EBITDA X 0,770,570,690,29
EBITDA/Net Interest X 123,5173,3135,9108,6
Equtity/Net Assets % 50,751,1%52,9%58,7%
Gearing % 21,316,7%20,2%8,4%
Net Working Capital (NWC) M€ 402,9353,4361,1286,6
NWC / Market Capitalization % 26,322,4%26,4%25,4%
NWC / Sales x 360 X 186,0119,7179,5160,9
Free Cash Flow (FCF) M€ 22,943,434,086,9
Capex M€ 40,127,143,733,6
Return on Invested Capital (ROIC) % 14,026,1%15,0%16,9%
Average cost of debt % 1,151,66%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