Sales up 3.5% for Sonae Industria in 9M-2019

PORTUGAL – The Portuguese Sonae Industria reported consolidated sales during the first nine months of the year (9M-2019) of around 174.8 million euros, an improvement of 3.5 percent over the same period last year (9M-2018 : 168.9 million euros), due to the operation of North America and the operation of laminates and components, which in 2019 includes sales of high pressure decorative laminates (HPL) in North America.

Consolidated sales in the third quarter of 2019 were 58.4 million euros, an increase of around 1.4 million euros compared to the same period last year (3Q-2018: 57.0 million euros), mainly due to the North American business.

Recurring EBITDA in 9M-2019 was 21.4 million euros, a decrease of 1.2 million euros compared to 9M-2018. Recurring EBITDA in the third quarter was 8.4 million euros, with a recurring EBITDA margin of 14.3 percent.

Net revenue for 9M-2019 was negative at 4.2 million euros, which compares to the net profit of 22.6 million euros in the same period last year.

Founded in 1959 as part of the Sonae Group, Sonae Industria quickly became one of the largest Portuguese manufacturers of wood-based panels. Located in northern Portugal, the company has undergone an expansion process through a combination of organic growth and acquisitions and has become one of the industry leaders with business units in Europe, North America and South Africa.

In May 2016, Sonae Industria completed a partnership with Arauco, a company based in Chile and one of the largest producers of forest resources. As a result of this strategic partnership, Sonae Industria has a 50 percent stake in Sonae Arauco.