“The second quarter progressed according to our expectations, with positive contributions from all
activities, which led to significant turnover growth (+8%) and an increase in recurrent profitability (+12%)
in the first semester when compared to the previous year.
Increased competition in different business areas has demanded aggressive productivity increases, along
with high levels of investment that have resulted in the reinforcement of competitive positions in our
The strong focus on the digital transformation of our companies and the improvement of their online
value proposition was also evidenced by the achieved results.
In addition to positive operational developments and progress in strategic execution, once again we
improved our balance sheet, which is now financed by equity close to 60%.”
Ângelo Paupério, Sonae Co-CEO