Vista Alegre closed the first half of the year with a net result of 3.9 million euros, representing a drop of 15% compared to profits of 4.6 million recorded in the first six months of last year.
In a statement sent this Monday to the Securities Market Commission (CMVM), the Visabeira Group company, which also owns the Bordallo Pinheiro brand, justifies the performance with the impact of investments in the accounts of the first six months of the year, in which it recorded a turnover of around 64.3 million euros (-0.4% in annual terms),”due to the decrease in production and sales of ‘private label’ products”.
“Due to recent investments made by Vista Alegre companies, amortizations increased by 0.6 million euros, which negatively impacted the operating result”, which registered a decrease of 4.6% compared to the same period last year, standing at 8.1 million euros, states the interim report.
The group’s EBITDA (earnings before interest, taxes, depreciation and amortization) reached 14.8 million euros – an increase of 0.5% compared to the same period last year – with the EBITDA margin improving by 0.2 percentage points to 23.1%, an improvement contributed to by “the growth of Vista Alegre’s porcelain and crystal brand products and Bordallo Pinheiro’s artistic earthenware”, given that “the favourable evolution in the sales mix was maintained”.
Source: www.jornaldenegocios.pt
