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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 640 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 by Business Unit (2016)

Sales by Business Unit

Sales by Geographical Area (2016)

Sales by Geographical Area

Sales| EBITDA | Margin EBITDA / Sales

Sales| EBITDA | Margin EBITDA / Sales

Key Figures

Income Statement Unit 1S2017 1S2016 2016 2015
Sales M€ 354,8334,0641,4604,8
Gross Margin M€ 192,1176,3334,7315,6
Gross Margin / Prodution % 53,352,4%53,2%50,7%
External Supplies M€ 56,052,1103,0100,5
Staff Costs M€ 63,659,2113,3111,9
Other Operating Costs (includes depreciation) M€ 17,712,222,427,5
EBITDA M€ 70,665,9122,3100,7
EBITDA / Sales % 19,919,7%19,1%16,7%
EBIT M€ 54,852,796,075,7
Net Income M€ 37,835,1102,755,0
Balance Sheet Unit 1S2017 1S2016 2016 2015
Total non-current assets M€ 229,0227,7231,7223,7
Inventories M€ 281,2264,6268,7271,7
Trade receivables M€ 173,0163,2141,9132,5
Other current assets M€ 94,946,884,639,3
Total current assets M€ 549,1474,6495,2443,5
Total Assets M€ 778,1702,3726,9667,2
Equity M€ 439,9368,4426,9354,1
Bank borrowings M€ 37,741,238,641,2
Provisions M€ 29,935,030,732,2
Other non-current liabilities M€ 25,616,316,916,8
Total non-current liabilities M€ 93,292,486,290,2
Bank borrowings M€ 34,853,248,450,1
Trade payables M€ 138,4117,2110,0121,2
Other current liabilities M€ 71,871,055,451,6
Total current liabilities M€ 245,0241,4213,8222,9
Total Liabilities and Equity M€ 778,1702,3726,9667,2
Data per share Unit 1S2017 1S2016 2016 2015
Number of shares shares 133.000.000133.000.000133.000.000133.000.000
Earnings per share 0,2840,2640,7720,431
Book value per share 3,3072,7703,2102,662
Share price (period-end) 12,8607,2058,5005,948
Market Capitalisation (period-end) M€ 1.710,4958,31.130,5791,1
Debt & Ratios Unit 1S2017 1S2016 2016 2015
Net Debt M€ 11,180,135,983,9
Net Debt/EBITDA X 0,090,710,290,83
EBITDA/Net Interest X 230,3103,4108,670,5
Equtity/Net Assets % 56,5%52,5%58,7%53,1%
Gearing % 2,521,7%8,4%23,7%
Net Working Capital (NWC) M€ 299,5296,9286,6268,2
NWC / Market Capitalization % 17,5%31,0%25,4%33,9%
NWC / Sales x 360 X 152,0160,0160,9159,6
Free Cash Flow (FCF) M€ 40,327,886,922,1
Capex M€ 14,313,933,631,4
Return on Invested Capital (ROIC) % 17,9%17,7%16,9%14,3%
Average cost of debt % 1,64%1,7%1,8%2,1%
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

Corticeira Amorim sales increase 6% to EUR 641 million

2017-04-07
  • EBITDA increased 22% to EUR 122 M

  • Sale of US Floors generates net gain of EUR 30 M

  • Net profit excluding sale of US Floors reaches EUR 73 M, up 32% on 2015

Consolidated Accounts