Vista Alegre to invest €50 million on decarbonisation to 2026

 In Companies, Decarbonisation, News

The fine china tableware and glass group Vista Alegre is to invest €50 million in decarbonisation of its production over the next three years.

The manufacturer with brands such as Vista Alegre, Bordallo Pinheiro and Casa Alegre will invest €23 million this year according to its CEO, Teodorico Pais in an interview with the business daily Económico.

The company based in Ílhavo, near Aveiro, has issued securities for the first time to 2,300 investors in retail at a return of 5.30% over 5 years (maturing in 2029) with demand exceeding offer by 1.33 times. However, it also has five branches in Brazil, Spain, France, the US and Mexico.

The company exports 70% of its production overseas and has partners that support the company in keeping its brands in the public spotlight, such as bottles for Rémy Martin cognac as well as making products for Ikea.

Last year it celebrated its 200th anniversary and has its strongest presence in markets such as the United States, Spain and France, Germany, Italy and Brazil.

In 2023 group profits rose 22% to €6.8 million, with an EBITDA up 2.6% to €28 million. However, sales fell 9.6% to €130 million pressured by a 20% fall in sales of porcelain products which make up much of the company’s output.

In 2023 the brand enjoyed strong growth of almost 10% with the hotel industry representing an important part of this growth.

The company also has funding from the Recovery and Resilience Plan (RRP) to do with energy transition and involves all of the group’s companies.