Nine Months 2024 Sonae SGPS SA Earnings Call Transcript

Nov 14, 2024 / 03:00 PM GMT

Release Date Price: $0.7

Transcript

Key Points

Positve

Sonae SGPS SA (STU:YSON) reported a consolidated turnover growth of 15.4% year-on-year, reaching EUR 7 billion, driven by retail operations and new acquisitions.
The company successfully integrated Mosti, a leading pet care retailer in the Nordics, and Bruni, a health, wellness, and beauty retail platform in Spain, enhancing its market position.
MC, the largest retail business of Sonae, achieved a year-to-date revenue increase of 12.2% to EUR 5.4 billion, with a like-for-like growth of 4.9%, and improved profitability.
Vartan showed strong top-line growth with a 7% increase in turnover and a 15.4% growth in e-commerce sales, accounting for 16% of total turnover.
Sierra's European shopping center portfolio maintained high occupancy rates at 98% and achieved a net result increase of about 20%, driven by strong performance and asset valuations.

Negative

Mosti faced a challenging consumer environment in the Nordics, with discretionary consumption decreasing, particularly in Finland, impacting gross margins.
Vartan's profitability was affected by intense promotional activities and inflationary pressures, maintaining an underlying EBITDA margin of 4.9%.
The company's net debt increased by EUR 676 million over the last 12 months due to significant acquisitions, slightly surpassing the prudent threshold of 15% for holding LTV.
Bright Pixel's investment activity slowed down compared to the previous year, with uncertainty in the market affecting asset valuations.
Sonae SGPS SA (STU:YSON) does not expect any major new acquisitions in the near future, focusing instead on integrating recent acquisitions and organic growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

YSO.LS - Sonae SGPS SA
Nine Months 2024 Sonae SGPS SA Earnings Call
Nov 14, 2024 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. We welcome you to Sonys nine months 324 results conference call during the presentation hosted by Mr Zu Dolores. So a CFO all participants will be on a listen-only mode. There will be an opportunity for Q&A at the end of the presentation. If you wish to ask a question during the Q&A session, you may do so by pressing the star key, followed by one on your telephone keypad. If you're experiencing any difficulty in listening to the conference at any time, please try calling from a different device. I now hand the call over to Mr Zo Zo Dolores. Please go ahead, sir.

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Unidentified_2 [2]
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