Sonae Capital Results, 9M 2017

Page created: Tuesday, 5 December 2017 10:33GMT | Updated: Tuesday, 5 December 2017 10:34GMT

Press Release:  05 December 2017 - 13 Page(s)
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MAIN HIGHLIGHTS
• Integration of ADIRA, an important landmark in the materialization of the corporate strategy;
• Strong turnover growth in Energy (+56.8%), Fitness (+26.3%) and Hospitality (+11.3%) segments;
• Stock of 19 Reservations/Promissory Purchase and Sale Agreements of residential units in Troia
Resort corresponding to 6.7M€ at the end of September 2017. During 3Q17, 8 sales deeds were
signed, 2 of which under the fractional regime (19 sales deeds signed in 9M17);
• Contract sales signed for a lot of real estate assets (excluding residential units in Troia Resort)
amounting to 10.2M€ in 3Q17 (15.96M€ in 9M17), in addition to Promissory Purchase and Sale
Agreements totaling 5.4M€;
• Backlog in Refrigeration & HVAC Portuguese operation amounting to 32.2M€ in 9M17,
representing, approximately, 9 months of turnover;
• Full integration of the operations acquired during the previous quarters in the Energy segment,
namely: (i) a Cogeneration operation fueled by landfill biogas, with 1MW, acquired at the end of
1Q17; and (ii) 15MW of Renewable Energies acquired in 2Q17, significantly increasing the
turnover (2.63M€ in 3Q17) and the profitability (2.4M€ in 3Q17) of the business, offering higher
stability to the Group’s cash-flow;
• Notwithstanding the high Capex (58.6M€ including ADIRA’s acquisition) and Dividends
distribution (25M€), Net Debt increasing only 41.4M€, driven by the cash-flow from operations;
• Net Debt under control and adequate to the Group’s business portfolio and type of assets: LTV
of 16.1% and Net Debt/EBITDA of 2.41x.



Original title:  EARNINGS ANNOUNCEMENT 30 SEPTEMBER 2017

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