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OLI CLOSED 2023 WITH A TURNOVER OF 73 MILLION EUROS
OLI closed 2023 with a turnover of 73 million euros, a slight decrease of 3 per cent compared to the same period last year. For 2024, the company aims to resume growth and reach the 80 million euro mark in the year it celebrates its 70th anniversary.
In 2023, OLI's exports accounted for 75 per cent of its total sales, and the products produced at the Aveiro (Portugal) industrial complex were sent to more than 85 countries on five continents.
In Europe, the geography where the company has grown steadily in recent years, sales fell by 2.4 per cent overall. The recession in Germany, the eurozone's largest economy and OLI's main export market, combined with the war in Ukraine, had a negative impact on sales in the German, Scandinavian and Eastern European markets. The biggest sales increases were in Southern Europe (7%) and North Africa (9%).
Last year, OLI continued to invest in its competitiveness on a global scale, investing a total of 9 million euros in R&D, technology and production capacity. The launch of the 10th expansion of its industrial complex, with the construction of a new energy efficiency building, and its debut in the commercialization of ceramic sanitary ware, with the launch of three ranges, demonstrated its ambition for sustainable economic and environmental growth.
For 2024, the company has several challenges. "Our ambition is to continue the process of internationalization by realizing investment opportunities that will allow us to improve our competitiveness. We plan to invest around 7 million euros in projects related to efficiency, digitalization and innovation. We will continue to take important steps to promote greater environmental sustainability, including the development of more efficient and environmentally friendly products, the creation of a Product Life Cycle Analysis and an Environmental Product Declaration (EPD), as well as the total reuse of plastic wasted in production and the reduction of disposable plastic used in packaging," reveals António Ricardo Oliveira, OLI's Board Member.