Download - Carlos de Jesus - Amorim @wbis2014
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CORK STOPPER: ADDING VALUE TO WINE
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35% of world cork manufacturing;
534 M€ revenues from 22k customers;
95% exports to more than 100 countries;
6 M€ annual R&D investment;
21 patents submitted in the past five years;
36 units with FSC certification;
3 350 associates.
Euronext-listed stock
AMORIM IS REGISTERING RECORD-BREAKING RESULTS THREE YEARS IN A ROW!
AMORIM KEY FIGURES
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CORK: 800 MILLION CELLS IN A SINGLE CORK STOPPER
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CORK IS A 100% NATURAL, RECYCLABLE AND RENEWABLE MATERIAL... Sound insulator Thermal effective Impermeable to liquids and gases Elastic and compressible Resilient Very light High temperature resistant Fire retardant Hypoallergenic Shock absorbent Soft touch Warm feeling
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ONLY AFTER THE 3RD HARVESTING – 43 YEARS –
DOES CORK ACHIEVE THE STANDARDS OF QUALITY REQUIRED FOR A NATURAL
CORK STOPPER
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2.1 MILLION HECTARES
Portugal49.6%
Spain30.5%
Italy3.1%
France2.6%
Morocco5.8%
Argelia4.9%
Tunisia3.5%
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CORK OAK FOREST IS ONE OF THE 35 GLOBAL BIODIVERSITY HOTSPOTS… On par with natural wonders, as Amazonia, Africa or Borneo Habitat for 37 species of mammals, 160
species of birds, and 24 species of reptiles and amphibians, including highly endangered species
IN EVERY 1.000 M2, THERE ARE ABOUT 135 SPECIES
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...AND A BARRIER AGAINST DESERIFICATION Cork forests improve soil’s organic matter, contribute to regulate the hydrological cycle, while acting as a deterrent against social desertification Cork harvesting is the best paid agricultural work in the world, due to the expertise and care It requires
ACCORDING TO WWF, OVER 100,000 DEPEND DIRECTLY OR INDIRECTLY ON THIS ECONOMY
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CO2 EMISSIONS (G/1000 STOPPERS)
EACH CORK STOPPER RETAINS 112 GRAMS OF CO2, IN STARK CONTRAST WITH THE CARBON EMISSIONS CAUSED BY ARTIFICIAL CLOSURES
LIFE CYCLE ANALYSIS OF CORK STOPPERS VS ALTERNATIVE CLOSURES, BY PWC/ ECOBILAN -120000
-100000
-80000
-60000
-40000
-20000
0
20000
40000
Aluminium Plastic
-112014,9
37172,5
14833,4
Cork
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OIV NEW ENVIRONMENTAL STANDARDS HIGHLIGHT THE BENEFITS OF CORK In the GHGAP, OIV recognizes the supremacy and positive impact of cork stoppers in the calculation of CO2 emissions According to OIV, Cork stoppers are a specific feature of the winegrowing sector, and their use has an important impact on sustainable forest conservation
GREEN HOUSE GAS ACCOUNTING PROTOCOL, ORGANISATION INTERNATIONALE DE LA VIGNE ET DU VIN
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AND WHAT DOES WINE HAVE TO DO WITH ALL THIS?
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CORK AND WINE The stopper creates 70% of the value-added created for cork.
70%
22%
2% 6%
Cork stoppers
Building materials
Raw material
Others
MAIN EXPORTED PRODUCTS, 2011, SOURCE: INE
EVERY TIME A BOTTLE OF WINE UNDER CORK IS OPENED, A CRUCIAL CONTRIBUTION TO ALL THIS IS MADE.
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200-YEAR OLD CHAMPAGNE, BALTIC SEA
GREAT, BUT IS THERE ANY MARKET RECOGNITION? CORK STOPPERS PREMIUM PERCEPTION
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EVOLUTION OF CLOSURES MARKET
0
2.000
4.000
6.000
8.000
10.000
12.000
14.000
2004 2005 2006 2007 2008 2009 2010 2011 2012*
Cortiça
Plástico
Screwcap
CORK STOPPER: GAINING MARKET SHARE SINCE 2010 PLASTIC: LOOSING MARKET SHARE SINCE 2007 SCREWCAP: SLOWER LINE OF GROWTH
MARKET RECOGNITION
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CONSUMERS PREFER CORK
MARKET RECOGNITION
94% of the US wine consumers
prefer natural cork and 93% consider that this solution means quality wine
92% of Spanish consumers prefer cork stoppers and for 86% it preserves the properties of the wine better
89,3% of French wine lovers prefer the cork
stopper and 89.8% state that cork stoppers preserve the full aromas
90% of Italian wine lovers consider that the ritual of opening a wine bottle and smelling cork makes the wine more pleasant to drink
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Consecutive studies show the unequivocal preference of consumers for cork, thus impacting directly on wine sales volume and value: Top US 100 wine brands priced at 6$ or more per 750ml bottle, Nielsen TS data
MARKET RECOGNITION IN THE WORLD’S LARGEST WINE MARKET
US consumers are willing to spend US$1.10 more for a wine sealed with cork
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Leadership on all price segments assessed, with particular focus on the fastest growing price points
MARKET RECOGNITION IN THE WORLD’S LARGEST WINE MARKET
Top US 100 wine brands priced at 6$ or more per 750ml bottle, Nielsen TS data
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NEW WORLD WINE PRODUCERS RETURN TO NATURAL CORK STOPPERS
“It became clear that cork is best for our wines.” Christian Canute Rusden Wines’ Oenologist
“ Cork is the only closure which enables me to market my wine as premium product in this market (China).” Ryan Kinghorn, CEO of Haselgrove
“You will notice one significant change; after considerable thought we have returned to using cork closures for Special Selection wines.” Tony Bish, Oenologist at Sacred Hill
“By bottling our wine under screwcaps, we were lowering the wine’s quality”. Adam Mason, Klein Constantia’s Oenologist
MARKET RECOGNITION
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OPINION LEADERS “Cork quality is on the rise.” James Laube Wine critic, Wine Spectator “Natural cork remains the highest rated closure among US wineries in terms of “overall perceptions”. Wine Business Monthly 2009 Closure Report
“The quality of cork has clearly improved and positive developments have been registered in the cork industry”. Robert Parker Wine critic at Wine Advocate “Perhaps the best news is that we had pratically no bottles contaminated by TCA, which means that the cork industry took the TCA problem seriously.” Jancis Robinson
MARKET RECOGNITION
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AMORIM WILL CONTINUE FOCUSED IN REASSERTING NATURAL CORK AS THE BEST WINE CLOSURE AND REGAINING MARKET SHARE FROM ALTERNATIVE CORKS BY LEVERAGING THE CLEAR CONSUMER PREFERENCE FOR NATURAL CORK AND THE EXCELLENT TECHNICAL PERFORMANCE CORK OFFERS