Corticeira Amorim, the Portuguese parent company of Amorim Cork, that is used as infill in third-generation synthetic turf, has achieved a turnover of more than 1 billion euros for the first time. The profit before interest, taxes, depreciation and amortization of Amorim Sport alone increased by 17.4%.
Corticeira Amorim is the largest cork producer in the world. In addition to cork infill for sports, the company also supplies cork for wine bottles, floor and wall coverings and gaskets, amongst others.
In 2022, the total turnover rose to 21.9% or 1.02 billion euros and has resulted in almost 100 million euros in profit.
A quarter of the turnover came from the sale of cork for wine bottles. However, with an increase of 17.4%, the turnover from cork applications for sports became the second biggest revenue generator for Corticeira Amorim.
Apart from infill for third-generation synthetic turf, Amorim Sport is also working on a shock pad made of cork.
It is generally expected that, should the European Commission decide to ban the sale of rubber and polymeric infill from 2029, cork will be the most popular alternative.
That will undoubtedly result in a higher turnover for Amorim Cork, and, subsequently, Corticeira Amorim.