In the third quarter, Corticeira Amorim SGPS halted the longstanding decline in its Floor & Wall Coverings business unit’s (BU) sales revenue. The BU generated sales revenue of 26.8m €, slightly more than a year earlier. In the first two quarters of this year, the BU had registered 2.6 % and 1.8 % lower sales revenue, respectively. Reductions had occurred in all four quarter in the previous business year 2018.
Amorim had originally been hoping for a turnaround in the trend in sales development in the first half-year, not least a result of the new “WISE” product line. Ultimately, however, the market launch of the waterproof flooring with a PVC-free Cork Rigid Core substrate was delayed. The first significant volumes were not put on the market until July and then contributed roughly 3.7m € to the BU’s sales revenue.
In the first nine months, the BU’s sales revenue amounted to 82.9m €, a reduction of 1.4 %. Amorim found itself facing slack demand particularly in North America and China. Growth in sales revenue was achieved in the other business units in the nine-month period: Insulation Cork (+18.1 %), Raw Materials (+15.0 %), Cork Stoppers (+5.3 %), and Cork Composites (+2.2 %). Consolidated sales revenue rose by 3.2 % to 602.6m € (583.8m €).
