Riopele profits up 15.7% to €5 million in 2024

Profits posted by Portuguese textile company Riopele were up 15.7% to €5 million for 2024 compared to 2023 with consolidated sales increasing 1% to €98.5 million according to the news agency Lusa.

The company based in Vila Nova de Famalicão, said that the increase in turnover last year followed a 15% increase in 2023 and was achieved despite a challenging international context for the textile industry industry, and notwithstanding having to face strong competition in the international markets.
In 2024 the company’s EBITDA stood at €13.6 million, the equivalent of 14% of the business turnover for the period, reflecting the company’s investment in operational efficiency and adequacy of its commercial offer.

Spain, Canada, Germany, Italy and France remained the Riopele group’s top five export destinations last year.

“Although Spain was in the top spot, it was Canada that stood out the most, with a performance that can be explained not only by the high demands of customers in terms of sustainability, but also by the joint work of the Research & Development and commercial teams, which contributed to the development of materials aligned with the specific expectations and needs of this audience”, the company says.