Corticeira : Good H1 2023 results on stronger profitability at core business units
>Good operating performance offsets light volumes - Corticeira’s H1 2023 results came in slightly above our estimates (+5% at EBITDA level) thanks to a stronger EBITDA margin (20.0% in Q2 2023 and 19.2% in H1 2023 vs 18.0% in H1 2022). Consolidated EBITDA totalled € 104m, +5.8% vs H1 2022, mainly reflecting significant savings in terms of operating costs, particularly resulting from lower energy prices, which more than offset higher cork consumption prices and higher ...Corticeira Amorim, S.G.P.S. is a holding company. Through its subsidiaries, Co. is engaged in the production, sale and distribution of cork products, including natural and agglomerated cork stoppers for the wine industry; cork stoppers and other components for the sparkling wines, spirits and champagne industry; cork plank and other products resulting from the processing of cork and used in other segments of the cork industry; floor and wall coverings; composition and granulated corks with several technical and industrial applications; cork with rubber; and expanded pure agglomerated and regranulated corks for technical, acoustic and vibration insulation.
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