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Sonae has invested 579 million euros in the last 12 months

Sonae has invested 579 million euros in the last 12 months, with “organic growth” justifying 326 million euros, the company said in a statement released this Wednesday.

“Over the past 12 months, Sonae has invested 579 million euros, focusing on organic growth of the business, which justifies a capital investment of 326 million euros. [investimento] in working order (plus 10.9%), ”the same note says.

According to Sonae, “In terms of portfolio management, the investment was €253 million, including the acquisition of 10% in Sierra, an additional stake in NOS and Bright Pixel’s investment in both new companies and strengthening its holdings.”

According to the group, Sonae MC, which owns Continente among other brands, “invested 61 million euros in the third quarter” and a total of 131 million euros through September, “by investing in the development of its digital and logistics infrastructure and in the expansion and reconstruction of its store network” , and “in the quarter, MC opened 16 new own stores, representing an additional six thousand square meters of retail space.”

In the same note, Sonae reported that “despite a large investment, the group’s net debt stood at €1,022 million and the group’s capital structure remained stable, with leverage ratios and very comfortable liquidity”, while “the group is fully funded. by the beginning of 2024 and with an average cost of funding around 1%.

Sonae also recalled that in the fourth quarter, “Bright Pixel completed the sale of Maxive, which will have a significant impact on the group’s cash flow”, emphasizing that “the sale of 50% stake in MDS (cash of 100 million euros) is still pending the necessary regulatory approvals but are expected to be completed by the end of the year.”

Sonae also mentioned that it increased its community support by another 50% in the first nine months of the year, and this support exceeded 21 million euros.

According to a statement released this Wednesday, Sonae recorded results attributable to shareholders of 210 million euros in the first nine months of the year, up 32.6% on the same period last year.

“In cumulative terms, net income attributable to shareholders reached 210 million euros in 9M 2022. [nove meses de 2022]benefiting from positive portfolio performance comparable to pandemic-hit 9M21 and contributing indirectly to Sierra’s asset repricing and Bright Pixel portfolio,” the company said in the same note.

Author: Lusa
Source: CM Jornal

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