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Sonae Capital goes from loss to profit in first nine months

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Sonae Capital goes from loss to profit in first nine months

Sonae Capital went from losses to profits between January and September, due to the improved operating profitability.

Net profit attributable to shareholders was positive at 2.75 million euros, compared with a loss of 8.36 million euros in the same period last year, the company said in the statement of accounts released to the Securities Market Commission (CMVM). .

In the third quarter, the quotation led by Miguel Gil Mata (pictured) posted profits of 6.03 million, thus doubling the net income from July to September 2018 (3.01 million euros).

Consolidated turnover for the first nine months increased by 19.3% to 150.68 million euros, benefiting from a 25.5% increase in the real estate segment to 20.51 million and an improvement of 18%. , 6% in the Troia Resort Energy, Fitness, Hospitality and Operations business units segment to 136.67 million.

In the quarter, the latter segment increased by 50.4% to 78.09 million euros, while real estate fell by 1.8% to 9.65 million – with total revenues of 83.98 million euros. (+ 44.5% compared to 58.13 million in the same period last year).

Consolidated EBITDA grew by 29.9% between January and September, reaching 32.92 million euros. In the third quarter alone, it increased by 10.1% to 16.31 million.

Sonae Capital "continued to invest in the development of its business, with gross investment reaching 38.7 million euros in the first nine months of 2019, reflecting the ongoing investments in the energy segment, namely in the project to develop the cogeneration power plant. biomass (valued at 20.5 million euros) and the acquisition of Futura Energía Inversiones, as well as the investment made in the fitness segment, which includes the acquisition of the Urban Fit chain ", the company underlines in the statement of accounts.

"Throughout the first nine months of 2019, Sonae Capital continued to assert itself as an active manager of its business portfolio. With the integration of Futura Energía Inversiones, we now have a more competent, more international energy business with greater integration of the value chain, which was a fundamental step towards its position as a promoter of integrated energy solutions ", says Gil Mata in the report.

In fitness, he continues, "we have a business that operates three brands in separate segments and growing simultaneously, based on an increasingly efficient expansion model, visible at a 3.3pp EBIT margin increase to 9.8%."

Thus, Sonae Capital's CEO believes that these results "are evidence that, step by step, quarter after quarter, we are on the right track to realize our growth and value creation ambitions."

(tagsToTranslate) Miguel Gil Mata (t) Sonae Capital


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