Profit of Sonae Sierra rises 47% to 142 million euros – publico

                 

                         
                     

                 

 
 

Sonae Sierra recorded a net profit of EUR 142 million last year, an increase of 47% from the profit of EUR 96 million achieved in 2014, said on Wednesday the management of shopping centers.

the direct income reached 61 million euros, an increase of 16% over the same period, reflecting “the improvement in operating results, growth in the provision of services to third parties and the decline in interest rates, “the company said the Sonae universe, owner of PUBLIC.

for improved results also contributed” the recovery of the European market and the consequent compression of capitalization rates of real estate, mainly in Portugal and Spain, and the positive impact of the sale of Zubiarte Mall (Spain) and West Tower (Portugal). “

indirect profit reached 81 million, an increase of 85% compared to 44 million euros achieved in 2014.

in a statement sent to the Portuguese Securities Market Commission, it is stated that, in operational terms, sales of European portfolio retailers rose by 2.5% in 2015, on a comparable basis with 2014, highlighting the growth of 3.5% in Portugal and 5.3% in Italy.

“Brazil continues to show a positive performance, with a rise in sales of shopkeepers of 2.2%, also on a basis comparable with the same period in 2014, despite the current economic crisis, influenced by political instability facing the country, “the statement said.

the rate of overall occupancy of the portfolio was 95.2%, slightly below the 95.5% recorded in the same period last year, but 96% in the European portfolio.

Commenting on the results, Fernando Guedes de Oliveira, president of the company, says that “2015 was a year marked by a marked improvement in operating results and the consolidation of financial performance.”

the manager also points out that “the new project development level, was a year business growth opportunities with the announcement of the first investment in the Colombian market and significant advances in relevant projects in Romania and Morocco. “

the head moves that, in 2016, Sonae Sierra will seek to consolidate its . presence in North Africa and other emerging markets, while focusing on strategy capital light and the provision of services to third parties

Sonae Sierra operates in 11 countries: Portugal, Germany, Algeria, Brazil, Colombia, Spain, Greece, Italy, Morocco, Romania and Turkey, and is also present in other regions via the service.