Vista Alegre profits plummet 27% to September

Vista Alegre closed the first nine months of this year with profits of €3.7 million, which represents a decrease of 27% compared to the same period last year, according to information published this Monday by the Securities Market Commission (CMVM).

By the end of the third quarter, operating result fell 3.6% year-on-year to €9.8 million, justified by the group owned by Visabeira on the “negative impact” of recent investments made by Vista Alegre companies, with amortisations increasing by close to €800,000.

On the other hand, the company, whose brand ambassador this year is Cristiano Ronaldo, says that Vista Alegre’s porcelain and crystal brand products and Bordallo Pinheiro hand-painted majolica ceramics sustained a positive sales mix, contributing to a 1.7% increase in EBITDA, which reached €19.9 million, with the EBITDA margin remaining at 20.5%.

The consolidated sales volume of Ílhavo’s group reached 97 million euros until September, 1.7% above the same period of the previous year. The foreign market is worth 72% of sales, with the company highlighting growth in Germany (45.4%) and the US (23.6%), in addition to the brand’s expansion to Czechia, Norway and the United Arab Emirates.

In terms of segments, the growth in revenues in stoneware (13.2%) and stoneware (8.2%) offset the breaks in porcelain and complementary products – justified by the reduction in the sale of private label products and in the horeca channel (hotels and restaurants) – and also in crystal and glass ( 7.4%).

“In the first nine months of 2024, the products of the Vista Alegre and Bordallo Pinheiro brands presented a positive evolution in retail (physical and online) at national and international level, resulting in a growth of 1.3% compared to the same period of 2023”, he points out in the same note to the market.