Corticeira Amorim profits climb to €16.4 million despite fall in sales

Portugal’s cork giant Corticeira Amorim posted profits of €16.4 million in 1Q of 2025, representing an increase of 2.1% in like-for-like terms on 2023.

The company led by António Rios de Amorim posted, however, a fall in sales of 2.2% and an EBITDA of 10%.

The net result suffered in the final flooring segment and lower levels of activity that reflected the restructuring process and sale of Timberman. If the effects of consolidation had been excluded, sales from Amorim Cork Solutions would have posted a fall of 10.7% and not 25%.

The company, in information sent to the market, also said that sales from Amorim Florestal had fallen 5.3% although sales from the wine and champagne cork segment increased 4.8%.

When consolidated the result reveals a fall of 2.2% to €229.4 million.

“In an environment of high uncertainty and volatility resulting from the current geopolitical context, which characterised the first months of 2025, the stability of Corticeira Amorim’s sales highlights the resilience of our business model,” stated the group’s president and CEO, António Rios de Amorim, quoted in the statement.

As with sales, EBITDA also registered a negative evolution, falling against the same period (10%) and against the previous quarter, to €39.3 million.