News
OLI EXCEEDED 75.5 MILLION EUROS IN 2022
In 2022, OLI, recorded a turnover of 75.5 million euros (M€), which represents a growth of 7% over the same period last year. For this year, an overall growth of 8% is estimated.
In 2022, exports grew 16% and represented 75.6% of total sales. The bathroom solutions developed and produced at the industrial complex in Aveiro, namely cisterns, flush plates and mechanisms, were sent to more than 85 countries on five continents.
International growth was mainly driven by the North African markets, in particular Egypt and Tunisia, which increased 142%.
In Europe, the geography where the brand has grown steadily in recent years, sales slowed, with a 2% drop in sales in the Central and Eastern European markets.
The war between Russia and Ukraine had a negative impact on OLI's 2022 financial year, with sales in these two countries being residual. Before the conflict, in 2021, Russia and Ukraine accounted for 6.3% of the company's total sales. On the European continent, Portugal was an exception as it recorded 9% growth, representing 23% of total 2022 sales.
For OLI, 2022, besides being a year of moderate growth, was a year of investment in Portugal. Around 12M€ were invested in the expansion of the industrial complex, whose inauguration is scheduled for the first half of this year, in increasing production capacity, in developing new products and in strengthening Information Systems and Technologies.
"In 2023, aware of the uncertainty and instability in Europe, we will invest in geographies such as North Africa and the Middle East, where we want to consolidate the results obtained last year and grow even more in sales. To achieve the growth objectives, we will invest in improving customer service and in launching new products with greater incorporation of technology and added value with benefits in terms of sustainability and people's health and well-being", says António Ricardo Oliveira, Board Member of OLI.
