PORTUGAL – Consolidated turnover (continued operations) in 1H/15 for Sonae, Portugal’s leading manufacturer of wood based panels, reached EUR 528 million, in line with 1H/14 sales. 

On a quarterly basis, Sonae Indústria turnover improved by 2% when compared to same period last year, and by 5% against the previous quarter.

The improved quarterly performance was driven by a combination of improved sales volumes (+3.5% vs 1Q/15) and higher average selling prices (+1.3% vs 1Q/15), which were also positively impacted by exchange rate effects from both Canadian and South African currencies.

Consolidated average variable costs per m3 for the semester were down by 1.4% when compared to 1H14, driven by reductions in the average costs of chemicals and thermal energy. When compared to previous quarter, all 2Q15 variable cost categories contributed positively to an average reduction of the group unitary variable costs of 4.6%. It should be noted that an important part of the improvements were determined by seasonal effects, with the end of the winter period in Europe and North America, leading to a reduction in the moisture content of the wood intake in the plants and improved electricity and thermal energy costs.

 

Sonae Industria Results April – June

Million EUR

 

Sonae Industria Results January – June

Million EUR