PORTUGAL - Portuguese board manufacturer Sonae delivered improved operating results in the last three consecutive quarters of 2014 with EBITDA improving to 96 million Euros for the year, 9 million Euros above 2013, on a comparable basis, with an EBITDA margin of 9.4%, up by 1.2 p.p. when compared to 2013, the best margin since 2007.
Notwithstanding the tough market conditions prevailing in the Iberian Peninsula and South Africa, Sonae was able to improve significantly their profitability, driven by the better performance of their operations in Northern Europe and North America.
Regarding 2014 results CEO Rui Correia, commented "We made considerable progress during 2014 in the execution of our strategic plan. Our achievements make 2014 a particularly important year for Sonae Indústria, as I believe we have established the platform upon which we will be able to reach a more sustainable and more profitable business."
Sonae Industria Results
Million EUR
Source: Quarterly Report
Results October-December
Million EUR
Source: Quarterly Report
