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Companies in the timber industry / Daily News / Sawmilling / Wood-based panels / Europe / Global
February 24, 2016

Sonae reports turnover increase in 2015

Consolidated turnover for Sonae Indústria´s continuing operations reached Euro 1,027 million in 2015, representing an increase of 1.3% year-over-year, on a comparable basis.

This top line performance was driven by improvements in the average selling prices that increased by 1.5% when compared to 2014, as the sales volumes were kept flat year-over-year, the company stated in a press release. According to Sonae, the main contribution to the positive performance of average selling prices came from the improvements witnessed in sales mix, with a growing share of value added products, with different contributions per geography, which more than compensated the decreases felt in OSB prices,
Sonae Indústria recurrent EBITDA for full year 2015 reached Euro 107 million, representing an increase of Euro 11 million when compared to 2014, with an implicit recurrent EBITDA margin of 10.4% (1 p.p. above the value registered in 2014).
Consolidated EBITDA for 2015 was Euro 92 million, above the 2014 value by 3% (+Euro 2.5 million). It should be highlighted that 2014 value was positively impacted by the receipt of an insurance settlement in the UK in the amount of Euro13.2 million. If this one-off effect is excluded, Sonae Indústria’s total EBITDA would have improved by Euro16 million, year-on-year, on a comparable basis.
Nevertheless, due to the improved operational performance of the continuing operations and the significant reduction of the negative contribution from the discontinued operations, the consolidated net losses of the group were reduced by circa 69% (-Euro 80 million), when compared to 2014.
Sonae Indústria is one of the largest wood-based panel producers in the world.

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