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
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
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