PORTUGAL - Consolidated sales turnover of Sonae Industria reached EUR 231.0 million in 2017, a reduction of EUR 9.9 million (-4.1%) compared to 2016.

The reduction in sales was primarily driven by lower sales volumes in North American business, which more than offset the increase in average selling prices in the Canadian market, but also by lower sales to the Nordic markets by the Laminates & Components business in the second half of the year.

EBITDA in 2017 reached EUR 38.1 million, marginally below 2016 (- 0.7%), driven by a lower contribution from the North American business, affected by the higher chemical costs and lower sales volumes. However, the 2017 Recurrent EBITDA margin reached 16.5%, up by 0.6 p.p. compared to 2016.

Net results for 2017 were positive EUR 15.3 million, an improvement of 39.1% when compared to the EUR 11.0 million of 2016.