Riopele ends 2024 with progress in energy transition and continued international expansion strategy

Riopele announces its 2024 financial results, reporting consolidated sales of €98.5 million. This figure represents a slight increase compared to 2023, achieved in a challenging environment for the textile industry, which, despite being well established in international markets, continues to face intense competition.

Spain, Canada, Germany, Italy, and France remained the company’s top five export destinations. While Spain maintained its leading position, Canada stood out, with performance driven by customers strong sustainability expectations and the close collaboration between Riopele’s R&D and Commercial teams, which helped develop materials tailored to the specific demands of this market.

EBITDA remained solid at €13.6 million, representing 14% of the year’s turnover, reflecting the company’s commitment to operational efficiency and a well-aligned commercial offer.

“Despite the challenging context affecting the textile industry, our results reflect the hard work and dedication of our teams, the trust of our clients and partners, and the strong commitment of Riopele’s leadership. We approach the sector’s challenges with optimism, with the most significant this year being the response to complex energy issues,” emphasized José Alexandre Oliveira, President of Riopele.

As part of its response to these energy challenges, in 2024 Riopele inaugurated a new photovoltaic power plant at the company’s Site B. It is one of the largest rooftop solar installations in Portugal, the result of an investment exceeding €5 million, partially funded by the Recovery and Resilience Plan (PRR). On certain days of the year, the facility enables Riopele to reach energy self-sufficiency peaks of up to 80% at its most energy-intensive unit.

In addition, a new photovoltaic plant at Site A is scheduled for completion in the second half of 2025. This investment marks another important step towards renewable energy production in the textile industry, helping to accelerate Riopele’s decarbonization process while also reducing reliance on external energy sources and mitigating the volatility of one of the company’s key cost factors.

Looking ahead to 2025, Riopele forecasts moderate growth, expecting to approach €100 million in turnover. Key priorities for the coming year include the completion of PRR-supported investments, continued training programs—focused both on technical areas of the textile industry and on developing management skills across its teams—and further progress in sustainability and Industry 4.0 initiatives.

Specialized in the production of fabrics for the fashion industry and employing 1,190 people by the end of 2024, Riopele is a fully integrated textile group, covering everything from research and development to spinning, dyeing, twisting, weaving, and finishing, along with a garment production segment under the Riopele Fashion Solutions brand. Currently, 98% of its production is exported to a network of 30 countries and over 700 clients