Corticeira Amorim’s profit fell 20.3%, to 55.6 million euros, in 2025 compared to 2024, with profitability being conditioned by mix of product and smaller volumes, the group announced today.
In a statement sent to the Securities Market Commission (CMVM), Mozelos’ company, Santa Maria da Feira, details that consolidated EBITDA (results before taxes, interest, depreciation and amortization) reached 141 million euros, which compares with the 157.6 million recorded in 2024.
As he explains, “profitability was conditioned by the product mix and the reduction in volumes, the effects of which were partially mitigated by the improvement in the price of cork consumption, the better quality of the batches worked, the operational efficiencies and the cost reduction initiatives implemented”.
As a result, the EBITDA margin stood at 16.4% last year, below the 16.8% recorded in 2024.
At the general shareholders meeting scheduled for May 4th, the Board of Directors of Corticeira Amorim will propose the distribution of a total gross dividend of 0.35 euros per share, to be paid in full in May.
Last year, Corticeira Amorim’s consolidated sales totaled 861 million euros, recording a drop of 8.3% compared to the previous year due to “pressures on volumes and product mix arising from a challenging market context”, which affected all business units.
Excluding the effect of the change in the consolidation perimeter resulting from the sale of the stake in Timberman Denmark, sales would have fallen by 5.3%.
Amorim Cork Solutions saw sales fall 24.0%, penalized by “lower levels of activity, particularly in the flooring segment, and the impact of the change in the consolidation perimeter”. Excluding this effect, the decrease in sales would have been 11.4%.
At the end of December, Corticeira Amorim’s net interest-bearing debt totaled 75.9 million euros, a reduction of 119.8 million compared to the 195.7 million at the end of 2024, which the group highlights was possible thanks to the “strong generation of cash flows” (175.9 million euros) and despite the payment of dividends (42.6 million) and investment in fixed assets (42.8 million).
Quoted in the statement, the president and executive president (CEO) of Corticeira Amorim states that the group’s activity in 2025 “was conditioned by a context of high uncertainty, marked by geopolitical tensions and significant transformations in international trade, in an environment of transformation in alcohol consumption habits that imposes additional pressure on the wine sector”.
“The reduced predictability and contraction in demand led our customers to adopt more conservative purchasing policies and implement cost reduction plans, trends that intensified throughout the year”, explains Antonio Rios de Amorim.
According to the CEO, these challenges “required a high capacity for adaptation, prioritizing the protection of profitability and the reduction of the level of debt”, with the company continuing to implement “initiatives aimed at improving operational efficiency and optimizing the cost structure”.
Rios de Amorim also states that Amorim Cork Solutions’ new organizational model “has produced clear benefits”, promoting the integration of ‘non-cork stopper’ business operations into a single business unit and positioning it as “a relevant ‘driver’ of long-term growth” for Corticeira Amorim.
Regarding the current exercise, the CEO says he faces it “with caution”, given the still “challenging” external context, and highlights the “opportunities for market consolidation and differentiation” that present themselves to the group “through structural initiatives aimed at competitiveness, innovation and sustainability, ensuring the creation of long-term value”.
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