Corticeira Amorim, S.G.P.S., S.A. Reports Earnings Results for the First Quarter Ended March 31, 2020
May 14, 2020 at 10:41 am EDT
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Corticeira Amorim, S.G.P.S., S.A. Announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was EUR 203.7 million compared to EUR 202.3 million a year ago. Net income was EUR 19.9 million compared to EUR 18.6 million a year ago. Basic earnings per share was EUR 0.149 compared to EUR 0.14 a year ago.
Tracing its roots back to the 19th century, Corticeira Amorim, SGPS, S.A. has become the world's largest cork and cork-derived company in the world, generating more than EUR 1,021 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, Corticeira Amorim, SGPS, S.A. has applied its specialist knowledge to this centuries-old traditional culture, developing a vast portfolio of products, solutions and materials that are used by blue-chip clients in industries as diverse and demanding as wines & spirits, aerospace, automotive, construction, sports, architecture and design.
Net sales by business unit break down between Cork Stoppers (72.8%), Floor and Wall Coverings (12.5%), Composite Cork (12%), Insulation Cork (1.4%) and Raw Materials (1.4%).
Net sales are distributed geographically as follows: Portugal (7.5%), EU excluding Portugal (62.6%), Other European countries (2.4%), the United States (14.6%), America excluding the United States (7%), Australasia (4.5%) and Africa (1.4%).
Corticeira Amorim, SGPS, S.A.'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.
CORTICEIRA AMORIM, SGPS, S.A. 
