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December 5, 2016

Sonae’s Q3 results benefit from the merger with Arauco

Sonae’s Q3 results benefit from the merger with Arauco

Sonae Industria’s consolidated turnover for the first nine months of the year reached circa 183 million Euros, up by 4% (or by 7 million Euros) when compared to the same period of 2015, on a comparable basis.

This improvement is explained by the continued improvement in the results of Sonae's Canadian operation y.o.y., which is expected to benefit from the recent strategic investment in a fifth melamine surfacing line that will support a better product mix with a higher share of melamine faced products.

The average selling prices also contributed to this positive performance, as they kept the positive trend vs. last year. As in 1H16, the Laminates plant in Portugal showed improvements in terms of sales volumes, which grew by circa 49% y.o.y. The recurrent EBITDA for the first nine months of 2016 reached circa 32 million Euros, an increase of 7.1 million Euros (or up by 29%) when compared to same period of last year, with an implicit Recurrent EBITDA margin of 17.4% (+3.4 p.p. vs. 9M15), on a comparable basis.

Paulo Azevedo, Chairman Sonae Industria commented "Our 3Q16 results represent the first full quarter performance under the new Sonae Industria perimeter, after the conclusion of the partnership with Arauco. I am pleased to be able to report that our 3Q16 results show a continued improvement with all three main business units performing better compared to last year. This positive evolution was mainly driven by improved results in North America and by the contribution from Sonae Arauco that has had another strong quarter. Our consolidated results in the quarter show strong YoY improvement with recurrent EBITDA up nearly 30% and a margin increase of 3.7p.p to 20.9%."

Sonae Industria Results July – September 3Q

EUR million

2016 2015 Var (%)
Sales 62.1 58.7 5.8%
EBITDA 13.0 10.1 28.7%
Profit / Loss 6.2 -8.5 -
EBITDA Margin 20.9% 17.2% +3.7 p.p.

Source: Quarterly Report

Sonae Industria Results January – September

EUR million

2016 2015 Var (%)
Sales 182.6 175.5 4.0%
EBITDA 31.9 23.8 34.0%
Profit/Loss -21.3 -28.2 24.5%
EBITDA Margin 17.5% 13.6% +3.9 p.p.

Source: Quarterly Report

 

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