Corticeira Amorim’s profits rose 20.6% in the first six months of the year, compared to the same period in 2021, to 48 million euros, the company announced on Tuesday.
In a statement sent to the Securities Market Commission (CMVM), Corticeira Amorim highlights that, “after the results attributable to minority interests, net profit reaches 48 million euros at the end of the first halfan increase of 20.6% compared to the same period in 2021″.
Excluding “changes in the scope of consolidation, net profit grows 14.1%”.
In the period under review, Corticeira Amorim sales grew by 25.9%in year-on-year terms, to 546 million euros.
The consolidation, from January 1, of the activity of the companies of the SACI group (SACI) contributed significantly to the consolidated sales of Corticeira Amorim — excluding this effect, the growth in sales would have been 12.7%”, he adds. the company.
The company highlights that, “despite some signs of slowdown in the second quarter, all business units recorded sales growth.”
This evolution “reflects the improvement of the mixture of product, the increase in prices and the growth of volumes” and the evolution of the exchange rate also had “a positive impact on sales”and “excluding this effect, sales would have increased by 24.2% (11.0% without changes in the scope of consolidation)”.
The consolidated result before taxes, interest, depreciation and amortization (EBITDA) grew by 26.9% to 98 million euros in the first half.
“Excluding the contribution from SACI, EBITDA growth has been 13.2%, in line with the evolution of sales in the period” and, “although inflationary pressures, especially in energy, raw materials and transportation, have continued penalizing the results, the higher levels of activity and improvement in mixture of product were decisive to protect profitability”, he adds.
Source: Observadora
