2022 a growth year for Portobello Group

The Brazilian ceramic tile group posted consolidated net revenue of R$1,700 million (approx. €324.2 million) in the first nine months of 2022, up 21.4% on the same period in 2021. EBITDA grew by 27.1%.

Portobello Grupo (Tijucas, SC, Brazil) posted consolidated net revenue of R$1,700 million (approximately €324.2 million) in the first nine months of 2022, up 21.4% on the same period in 2021. EBITDA totalled R$338.7 million (approximately €64.6 million, +27.1%), equivalent to 19.9% of revenue compared to 19% in the same period in 2021.

The domestic market accounted for almost 76% of consolidated revenues, 16.5% up on 2021. International market growth was stronger, with export revenues up 39.7% in Brazilian Reals and 35.4% in US dollar terms to $76.5 million, of which $33.1 million (+32.8%) was generated by the Portobello America BU.

With the exception of the Pointer BU, which recorded an 11.6% decline over the nine-month period, the other two business units of the group led by Chairman Cesar Gomez Jr. recorded double-digit sales increases: +21% for the Portobello BU (which generated 48% of total revenues) and +33.2% for the Portobello Shop BU (143 shops in Brazil, of which 26 are wholly owned and 117 are franchises), which accounted for 35.2% of the group’s consolidated sales.

While awaiting the financial results for Q4 2022, the group’s management expects to maintain a good growth rate for the full year, with margins in line with those recorded in 2021.