The third quarter was undeniably positive for Sonae. On a consolidated basis we enjoyed double-digit growth in turnover and EBITDA, we improved the competitive standing of our main businesses and we continued to strengthen our capital structure.
On a comparable basis, all of our retail businesses grew, most notably Continente which retained its status as the acknowledged price leader in the market.
Sonae Sierra successfully opened ParkLake, the first Sierra shopping centre developed in Romania and maintained high occupancy rates and profitability levels in European and Brazilian operations.
In telecommunications NOS remained as the operator with highest turnover growth in the market, continued to improve profitability and secured a pivotal position in the management of sport content.
In the year-on-year comparison, consolidated debt at the end of the period continued to decline, and currently has a lower cost and extended maturity, reflecting a more robust balance sheet.
All in all, comforted by the success of adopted strategies, and standing on a greater financial strength, we face future challenges with renewed confidence.
Co-CEO da Sonae