Another year of losses for Sonae Indústria

Page created: Friday, 27 February 2015 14:35 GMT

4Q 2014  Results  Sonae Indústria

The Portuguese industrial conglomerate Sonae Indústria reported a net loss of €116 million in 2014 and worse than the €78 million loss in 2013 and despite 10% growth in its operating results, the company announced in a statement sent to the stock market regulatory authority CMVM on Friday.

The company pointed out that a strategic reclassification of asset underpinned the loss and carried out within the framework of boosting its performance going further after turning over some €1.02 billion in 2014.

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Its EBITDA result was up 10% year-on-year to close 2014 on €96 million with the company statement adding that the profit margin resulting, 9.4%, the best since 2007.

2014 also saw Sonae Indústria trim total fixed costs by around 3%, corresponding to €7 million, and that its total investment had amounted to €43 million and against €22 million in 2013.