The profit Ceibo Amorim rose 64.7% in the first quarter of this year compared with the same period last year, reaching EUR 13.9 million, the company said in a statement.
in his presentation of results to the Portuguese Securities Market Commission (CMVM) Corticeira Amorim reported sales of 156.7 million euros between January and March, 6.3% more than in the same period of 2015.
the sales growth was achieved in all business units of the group, with the area stoppers to gross over 7.8%, while the cork division for coatings sold over 4.1%. The composite unit advanced 5% and isolations thickened revenues by 25%.
With revenues rising and stable costs, the company managed to increase by 15.8% its EBITDA (earnings before interest, taxes, depreciation and amortization) in the first quarter, with this indicator to reach EUR 27.6 million.
the company also continued its efforts to reduce its debt, with net debt download from 90.3 million euros in March 2015 to 87.1 million in March 2016.
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