Sonae profits to fall 35.7% through September

Sonae’s profit for the first nine months of the year was 135 million euros, down 35.7% on the same period last year, it announced this Wednesday.

“The net result attributable to shareholders reached €135 million, reflecting support for families, increased financial costs and taxes, as well as investments in business expansion and digitalization,” the company said in a statement.

For the nine months of 2022, Sonae recorded a profit of €210 million.

Between January and September, consolidated turnover exceeded 6,000 million euros, an increase of 10% driven by MC.

In turn, earnings before interest, tax, depreciation and amortization (EBITDA) amounted to 581 million euros, an increase of 7% compared to the same period last year.

“During the third quarter of the year, the macroeconomic context continued to be characterized by geopolitical instability, rising interest rates and persistent, albeit slowing, inflation,” Sonae executive president Claudia was quoted in the same note. de Azevedo.

Since the start of 2023, the group has invested €467 million, “with a particular focus on improving the experience for our customers in both physical spaces and digital channels, demonstrating our strong commitment to the companies in our portfolio and all our stakeholders.” ‘” he added.

Faced with the current level of uncertainty, the executive president said the group must remain decisive and flexible to adapt to risks, take advantage of trends and take advantage of opportunities.

“Given our portfolio of leading companies, our strong financial position and our unique culture, I remain fully confident in our ability to continue to create benchmark economic and social value,” he concluded.