PORTUGAL - Sonae Indústria’s consolidated sales reached EUR 54.3 million in the first quarter of 2020 (1Q-2020), a drop of 4.4 percent compared to the same period last year (EUR 56.8 million).

Recurring EBITDA in 1Q-2020 reached EUR 5.3 million, an improvement of 10.4% compared to the same period in 2019 (EUR 4.8 million), with an EBITDA margin of 9.8 percent, an increase of 0.5 million euros and 1.3 percentage points respectively, compared to 1Q-2019.

Net results in 1Q-2020 were negative with a loss of 1.2 million euros, compared to a profit of EUR 1.2 million in 1Q-2019.

The Covid-19 outbreak and related extraordinary containment measures imposed by authorities in the various regions where Sonae Indústria conducts its business (namely Europe, North America and South Africa) are having a significant impact on the operations of Sonae Indústria, which generally began to be felt in the second half of March.

As for business, they have been particularly affected by the containment measures imposed by local governments with the aim of mitigating the Covid-19 pandemic, but also by the reduction in customer orders as a result of lower demand. of the market in most countries. Operations may also be conditioned by the potential disruption of the supply of materials and services.

“We have taken measures at all levels of our businesses to mitigate the negative impacts of the COVID-19 crisis including adapting our production levels, cost structures and investment plans in order to protect liquidity and safeguard the future. We are also preparing the ground for the gradual ramp up of operations in order to respond as effectively as possible to changes in circumstances, be they the easing of pandemic containment restrictions and / or the increasing levels of customer orders, said Paulo Azevedo, Chairman of Sonae Indústria.