Amorim sees record cork stopper sales

Cork producer Amorim has recorded annual sales in 2010 of more than 3 billion cork wine stoppers. Amorim’s cork stoppers business unit — the company’s core business — posted a sales volume increase of 13.8%, consolidating its position as the world’s largest supplier of wine stoppers.
 
The company saw significant sales volume and sales revenue growth in all its major ‘Old World’ wine markets, with France, Italy and Spain breaking historical sales volumes with increases ranging from 10% to almost 30%.
 
Double-digit sales revenue growth was also recorded in prominent ‘New World’ wine markets, such as Argentina, and Australia, were a significant 17.4% increase was recorded. In Chile, Amorim’s growth reached 9.1%.
 
In the US, Amorim registered a 22% growth in sales volume, and a 20 % increase in sales revenue - a record in this key market.
 
A return to natural cork closures by major retailers in the UK saw unit sales increase by almost 50 % in 2010.
 
Worldwide, Amorim’s sales of all types of stoppers - including whole natural cork closures, champagne stoppers and technical corks - were significantly higher during 2010.

“Passing the 3 billion barrier is an exceptional result — particularly when you consider that in 2010 the world was emerging from the global financial crisis,” said Amorim’s chairman and CEO, António Amorim.
 
“Along with the outstanding sales result, we witnessed strong consumer preference for cork in the US, an increase in the use of cork by the ‘Top 100’ US wine brands, and a return to cork closures by major supermarkets in the UK.
 
He added that cork overall was enjoying a renaissance in many sectors — including building, design and fashion — due to a growing understanding of the benefits this 100% natural material brings to a product .
 
“This is also evident in the drinks sector, with increasing awareness of cork’s environmental advantages, and acknowledgement of the added value of a quality natural cork closure.
 
“In the wine industry, we have seen a number of wineries return to cork in the past 12 months, based on significant improvements in cork’s performance together with sustainability and consumer preferences, as well as concerns over issues with alternative closures.”
 
The annual worldwide market for wine stoppers is estimated at 17 billion with the cork industry producing in the region of 12 billion stoppers, giving it 70% of the entire global wine closure market.
 
Amorim’s 2010 sales volume result means it now accounts for almost 26% of total cork stopper sales for the year - and a greater sales volume than any of the alternative wine closures currently in the market place.

About Corticeira Amorim, SGPS, S.A.
Tracing its roots to the 19th century, Corticeira Amorim has become the largest cork and cork-derived company in the world, generating over Euro 450 million in sales throughout more than 100 countries. Corticeira Amorim and its subsidiaries are an integral part of a conservation effort to guarantee the survival of hundreds of thousands of cork oak trees throughout the Mediterranean Basin. It is proud of its contribution to the use of these important forests that represent a key role in CO2 retention, preserving biodiversity and preventing desertification. For further information, visit www.corkfacts.com or www.realcork.org or www.corticeiraamorim.com

1 March 2011 - Felicity Murray