Vista Alegre increased profit in 2023 to 6.8 million euros

Vista Alegre increased profit in 2023 to 6.8 million euros

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Vista Alegre closed last year with a net profit of 6.8 million euros, 22.3% more than the previous year. “The consolidated results of the Vista Alegre group in 2023 present a positive performance, compared to the previous year”, announced the Portuguese company in a statement sent to the Securities Market Commission (CMVM) this Wednesday.

“Despite the instability of the economic, political and social situation worldwide, which has been felt since the start of the war in Ukraine, and consequent increases in the costs of some raw materials and electricity, in 2023 the results of the Vista Alegre group showed growth compared to 2022”, highlighted the company.

Turnover reached 129.6 million euros, a reduction of 9.6% compared to the same period last year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) grew 2.6% compared to 2022, to 28.3 million euros.

“The group’s branded products, Vista Alegre and Bordallo Pinheiro, showed a favorable evolution in retail (physical and online) and in the horeca channel (hospitality and restaurants) at national and international level, having grown 4.4% compared to the same period in 2022. Therefore, with this evolution and continuing the group’s strategy, the weight of its products marks the total annual sales grew 7.5% compared to 2022”, says the group.

“The continued focus on the efficient management of our operations and the favorable evolution in mix sales with growth in porcelain and crystal products from Vista Alegre and artistic earthenware from Bordallo Pinheiro, allowed for improved results compared to the same period last year”, stated Vista Alegre.

The foreign market represented 69.2% of turnover, with 89.7 million euros in sales.

Investments amounted to 15.6 million euros, of which 9.3 million euros for the Cerexport production unit, to improve the energy efficiency of one of the furnaces and provide greater flexibility to the production lines.

The group’s consolidated gross debt was reduced by 8.5 million euros in 2023.

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