Friday, February 19, 2016

Profits Ceibo Amorim grow 53.9% in 2015 – Mad Money

The CORTICEIRA AMORIM posted profits of 55.012 million euros in 2015, an increase of 53.9% over the previous year, according to results released on Thursday in a statement with the Securities and Exchange Commission (CMVM).

the increase in sales of 7.9% to 604.8 million euros, explains the improvement in results and offset the 9.5% increase in operating expenses.

the stoppers unit accounted for almost two thirds of sales (64.8%) in 2015. they reached the EUR 393 million, 10% more than in 2014, with the influence of “foreign exchange effect of dollar appreciation which alone accounted for 40% of the sales increase. ” In 2015 sold 4.2 billion corks, the largest number ever, according to the company.

The unit of raw materials, with 135.37 million euros, and the coating unit, with 109.84 million euros, were the other two units with better results in 2015. in the latter unit, however, a decline of 5.6% in sales was recorded with the product “penalized by a reduction in product sales manufactured for the Eastern European markets, in particular Russia, which joins the impact, this unfavorable business unit, the currency effect of EUR / USD “at EUR 1.5 million.

net debt of the company held by Americo Amorim fell to 83.896 million euros.

the CORTICEIRA AMORIM has been identified as one of the candidates, along with Ibersol, to enter the PSI-20, the main index the national stock exchange. The next revision of the index will be made in March 2016. Until then, the benchmark index will remain with 17 companies.


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