Sonae is selling more and profits 38M€ in semester

  • ECO News
  • 22 August 2019

Sonae has profited 38M€ in the first semester of the year.

Sonae has profited 38M€ in the first semester of the year. It represents, though, a 52.8% drop relative to the same period of 2018 because of the sale of OutSystems was included in the report for that period. Excluding that detail, the net result would increase by 24% thanks to reinvigorated turnover and operating profit.

“During the second quarter of 2019, Sonae MC continued to deliver excellent results, as demonstrated by our strong sales, healthy operational profitability, and improved earnings”, said the company’s new CEO, Cláudia Azevedo, in a statement sent to CMVM (the Portuguese Securities Market Authority).

Sonae’s consolidated turnover increased by 11% to 2.985M€ with a strong contribution from Sonae MC, solid growth of Sonae IM and improving performance of Worten and Sonae Fashion in the second trimester.

EBITDA increased by 9.6% to 284M€. Investment rose up to 189M€ (+25.3% thanks to organic expansion and acquisitions) as net debt dropped by 131M€ to 1,755M€.

The company led by Cláudia Azevedo highlights that in the second trimester of the year Sonae Sierra Brasil reached a final merger agreement with Aliansce Shopping Centres to create the biggest mall operators in Brazil. Besides that, Sonae IM has also announced an agreement with Mobileum to sell WeDo.