Sonae’s sales grew 1% with positive contributions from all business – publico

                 

                         
                     

                 

 
                         

The consolidated turnover of Sonae SGPS increased 1% in the first half, to 2 329 million euros, with all business areas to record a positive trend in sales, said on Wednesday the company.

                     

                         The main indicators of Sonae accounts, which owns the PUBLIC evolved positively. The operating profit (EBITDA) increased 11.1% to 191 million euros and the direct result grew 23.5% to 56 million euros.

Net profit attributable to shareholders almost doubled 52 million euros to 97 million euros.

One of the biggest contributions to earnings came from In, which noted “exceptionally positive results,” said the official source PUBLIC Sonae. Operating profit of the telecommunications company increased by 2.6% to Euro 700 million.

Also Sonae Sierra, which posted growth in the direct results (revenues from rents) and indirect, generated by the improvement in the assessment of real estate assets, positively helped the consolidated results of the group.

Despite the sales growth in all business areas, the evolution of profitability had different performances. In food retail, Sonae MC registered a sales increase of 0.4% to 1 633 million euros over the same period, benefiting from the expansion of the sales area, with two more stores, but also through the expansion of franchise formats (My Super, Well’s, Bom Bocado and note!). According to the same source, the competition in the sector remains high, which led the company “to invest very aggressively in promotional campaigns”, with negative effects on EBITDA, which fell 13.5%, or EUR 14 million over the same period last year.

In the non-food retail sector, the turnover also increased 0.4% to 582 million euros, an increase of 5.1% in unit International. The company explained that the performance of different business areas were different, with “very interesting” growth in Worten (appliances and electronics) and Sport Zone (articles and sports equipment), and lower performance of Zippy, especially in Portugal and Spain, “where the collection spring / summer did not have the desired results.”

The IM Sonae, Investment Management unit recorded a 4% increase in turnover to EUR 124 million .

In the first half donates year, the group led by Paulo Azevedo continued to accelerate investment and to slow down the debt. The investment in retail business, which has contributed to strengthening the company’s internationalization, increased 48.6% to EUR 109 million.

The debt decreased by EUR 75 million to 1413 million euros. Considering the payment to France Telecom, debt reduction is even greater, reaching 180 million euros.

To debt reduction helped the sale of assets of Sonae RP, amounting to EUR 185 million .