Sonae Indústria announces consolidated results for 2010

Portugal (Notifix).- Sonae Indústria reported results for financial year ended 31 December 2010. Comparing 2010 results with prior year turnover increased 6%, from 1,217 to 1,293 million Euros, EBITDA increased 116%, from 33 to 71 million Euros and Net Loss reduced 49% from 146 to 74 million Euros. Carlos Bianchi de Aguiar, CEO of Sonae Industria, mentioned in his message to shareholders that "2010 was another difficult year for our industry. The economic environment together with the financial crisis and the unpredictability of our costs, especially wood, brought additional difficulties to the management of the business. I believe that, in spite of the difficult market conditions, will keep improving the profitability of our business. We can see positive signs in some of our most important markets and we will keep working hard on the existing and new initiatives in order to improve our efficiency.

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