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Ângelo Paupério

1H18 results

23 August 2018
The growth achieved in the 2nd quarter allowed Sonae to end the 1st half of 2018 with a turnover increase of more than 6% over the same period last year, with positive contributions from all our business areas, particularly food retail which grew by 7.2%. The overall profitability also improved, with EBITDA reaching €154 M, 11.1% above the 1st semester of 2017.

It was also possible to reduce the Group’s net debt by an additional €95 M while increasing investment levels and continuing to grow by 5% the dividend paid to our shareholders.

The quarter was, however, marked by the results reached in terms of portfolio management, with relevant steps in the preparation of the potential IPO of Sonae MC, with the partial sale of a stake in Outsystems (indirectly owned by Sonae IM) and particularly with the acquisition of an additional 20% stake of Sonae Sierra, an operation that contributed to a more balanced portfolio and to reinforce the group’s international profile, which remains at the forefront of Sonae's strategic priorities.

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