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Sonae - SGPS SA
ELI:SON

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Sonae - SGPS SA
ELI:SON
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Price: 1.614 EUR 0.88%
Market Cap: 3.2B EUR

Sonae - SGPS SA
Investor Relations

Sonae - SGPS SA is an intriguing narrative of diversification and adaptability in the contemporary business landscape. Emerging from Portugal, Sonae has built an impressive portfolio that spans various sectors, showcasing a robust strategy of diversification. Its foundations lie in retail, with Continente, one of its flagship brands, dominating the Portuguese supermarket scene. This retail juggernaut caters to the everyday needs of countless consumers, forming a reliable revenue stream through consistent foot traffic and consumer loyalty. Beyond its supermarket realm, Sonae has woven itself into the fabric of many sectors including technology, where its subsidiary, Worten, stands as a leader in electronics retail, offering a seamless blend of in-store and digital shopping experiences.

Furthermore, Sonae ventures boldly into the realms of real estate and telecommunications, demonstrating an acute understanding of nurturing synergies across different business units. The company has taken strategic stakes in real estate development and management through Sonae Sierra, capitalizing on booming property markets and urban development trends. Additionally, in the telecommunications sector, Sonae's impact is felt through its involvement in mobile and internet services, positioning it well to leverage the evolving digital era. This multifaceted approach not only buffers Sonae against market volatility but also positions it to capture growth opportunities across diverse sectors, with its financial architecture supported by a mixture of steady cash flow from retail operations and investment expansion in high-potential areas.

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Last Earnings Call
Fiscal Period
Q4 2024
Call Date
Mar 20, 2025
AI Summary
Q4 2024

Record Year: Sonae achieved record consolidated turnover of nearly EUR 10 billion in 2024, up 18% from the previous year.

Strong M&A Activity: The company invested over EUR 1.1 billion in acquisitions, including majority stakes in Musti and the merger of Arenal with Druni, strengthening its retail and geographic footprint.

Retail Growth: MC, Worten, and other major retail businesses delivered robust growth, with MC's grocery segment up 7% and Health & Wellness and Beauty more than doubling in size.

Profitability: EBITDA surpassed EUR 1 billion for the first time, rising 4.5% versus 2023, despite challenging comps and M&A impacts.

Stable Margins: MC maintained its EBITDA margin in grocery at 10%, managing cost pressures through efficiency programs.

NOS Outperformance: NOS posted its best year ever with net income up 50% to EUR 272 million and free cash flow up to EUR 360 million, supported by both operational gains and one-offs.

Confident Outlook: Management expects continued growth, solid balance sheet, and plans a 5% higher dividend, maintaining a dividend yield around 6–6.5%.

Key Financials
Turnover
EUR 10 billion
EBITDA
over EUR 1 billion
MC Grocery Revenue
EUR 6.5 billion
MC Grocery Like-for-Like Growth
4.4%
MC Total Revenue
EUR 7.6 billion
MC Total EBITDA Margin
10%
MC Health, Wellness and Beauty EBITDA Margin
12.5%
Worten Revenue
EUR 1.4 billion
Worten Like-for-Like Growth
4.2%
Worten EBITDA Margin
5.6%
Musti Q4 Revenue
EUR 122 million
Musti EBITDA Margin
14.1%
Sierra Tenant Sales (Europe)
EUR 3.5 billion
Sierra Net Result
EUR 97 million
Sierra Assets Under Management
EUR 6.8 billion
NOS Revenue
EUR 1.7 billion
NOS EBITDA Margin
38%
NOS Net Income
EUR 272 million
NOS Free Cash Flow
EUR 360 million
Sonae Net Result
EUR 223 million
Net Debt to EBITDA (MC, pro forma Druni)
2.7x
Cash Flow Generation Capacity
EUR 286 million
Loan-to-Value (LTV)
16%
Dividend Yield
6–6.5%
Women in Leadership Positions
41%
Plastic Packaging Recyclability
90%
Earnings Call Recording
Other Earnings Calls

Management

Ms. Maria Claudia Teixeira de Azevedo
CEO & Executive Director
No Bio Available
Mr. Joao Pedro Magalhaes da Silva Torres Dolores
CFO & Executive Director
No Bio Available
Mr. Joao Nonell Gunther Amaral
Chief Development Officer & Head of Human Resources and Director
No Bio Available
Ricardo Figueiredo da Rocha
Head of Investor Relations
No Bio Available
Célia da Conceição Azevedo das Neves Sá Miranda
Head of General Counsel & Corporate Governance and Company Secretary
No Bio Available
Mr. Luis Miguel Mesquita Soares Moutinho
CEO of Sonae MC
No Bio Available
Mr. Fernando María Guedes Machado Antunes de Oliveira
CEO of Sonae Sierra
No Bio Available
Mr. Miguel Mota Freitas
Chief Executive Officer of Worten
No Bio Available
Mr. Miguel Nuno Santos Almeida
Chief Executive Officer of NOS
No Bio Available
Mr. David Graham Shenton Bain
Board & Corporate Governance Officer
No Bio Available

Contacts

Address
MAIA
Lugar do Espido Via Norte
Contacts
+351220104000
www.sonae.pt