Sonae reduces losses 85%
- Details
PORTUGAL (Notifix).- For engineered wood manufacturer Sonae, sales volume in 1Q12 remained at the same level as in 1Q11, but turnover increased by 3%, due to a combined effect of a better product mix and a recovery of the average selling prices achieved during last year. Variable cost evolution also played an important role on these improvements through efficiency gains already achieved over the last quarters. These combined effects resulted in 3.8pp higher recurrent EBITDA margin, which reached 8.8% of turnover.