Consolidated Annual Report 2003
CORTICEIRA AMORIM - Year-end results show significant improvements
2003
- Profitability for 2003 registered a sharp improvement. When compared to 2002, net profits increased four times to reach Euros 801 million
- A 2H03 increase in sales, overall improvements in gross margin and a stabilisation of operating costs are the main drivers behind the good performance obtained especially throughout the second half of the year
- EBIT improved 40.2% to Euros 20.7 million, while EBITDA increased 12% to Euros 51.6 million