Sonae Sgps Sa · EURONEXT:SON

Sonae Sgps Sa — Sonae — H1 2025 Earnings Presentation

18 slides from Sonae Sgps Sa's earnings presentation, Jul 30, 2025

  1. Slide 1: Results 1H25

    Results 1H25 Go further together We champion our diverse talent. We bring our skills, knowledge, and point of views to learn from one another and put it into action.

  2. Slide 2: Portfolio

    Portfolio

  3. Slide 3: We made important portfolio moves in the last 18 months

    We made important portfolio moves in the last 18 months Acquisitions Partnership Divestment [March 24] [July 24] [July 25] [Nov 24] Strengthening inter-company collaboration and unlocking synergies have been a priority 3

  4. Slide 4: Results by business

    Results by business

  5. Slide 5: MC reinforces leadership positions across all banners

    MC reinforces leadership positions across all banners Turnover (€bn) and uEBITDA margin (%) Grocery Health, Wellness & Beauty • Grocery LfL with double-digit growth in 2025 and strong +10% volumes performance 3.3 +188% 3.0 • Grocery EBITDA margin LfL 0.8 +7.8% rose c.60 bps yoy due LfL +12% +4.6% to

  6. Slide 6: MC delivers strong topline and margin expansion

    MC delivers strong topline and margin expansion Turnover (€bn) and uEBITDA margin (%) Net Debt to EBITDA (x) +25% 4,1 2.9x 2.8x LfL 3,3 +7.5% +27% 2,1 1,7 LfL +9.8% 9.9% 10.8% 9.3% 10.2% 2Q24 2Q25 1H24 1H25 Jun-24 Jun-25 6

  7. Slide 7: Turnover growing at double-digit with pressure on cost base

    Turnover growing at double-digit with pressure on cost base Turnover (€m) and uEBITDA margin (%) • Worten strengthened its market leadership with sound online performance +7% 636 • Broad-based growth 593 LfL across all segments, with +5.4% core electronics, new categories, and services +11% all perf

  8. Slide 8: Musti delivering topline recovery and market share gains in a rebounding market

    Musti delivering topline recovery and market share gains in a rebounding market Turnover (€m) and adj. EBITDA margin (%) • LfL rebounded again qoq; topline supported by Nordics +14% improvement and Pet 242 City integration 211 LfL +4.0% • Gross margin recovery, 72 with improving sales mix +17% and d

  9. Slide 9: Sierra with continued positive business momentum

    Sierra with continued positive business momentum • EU shopping centre Net Result (€m) NAV INREV (€bn) portfolio with growing tenant sales (+4.1% LfL), +0.04 rising footfall and nearly full +17 occupancy 1.11 1.12 1.08 62 • Services maintained sector diversification strategy; 45 Developments activity

  10. Slide 10: Telco and Technology continued to perform well

    • Strong performance of core Telco businesses • Portfolio of >50 active companies across with a highlight to the significant growth in the cybersecurity, retail technologies and corporate segment infrastructure software • Net income on a comparable basis increasing, • Five new investments and contin

  11. Slide 11: Consolidated view

    Consolidated view

  12. Slide 12: MC, Worten and Musti boosting topline

    TURNOVER (€bn) MC, Worten and Musti boosting topline +0.51 +0.03 +0.02 +0.01 2.70 +0.45 Turnover fueled by organic +0.18 growth and portfolio moves Food +0.27 HWB +23% 2.19 5.3 4.3 +24% 2.7 2.2 2Q24 2Q25 1H24 1H25 2Q24 MC Worten Musti Other 2Q25 12

  13. Slide 13: EBITDA

    EBITDA (€m) Positive EBITDA boosted by aperformance of both positive evolution of our fully and underlying EBITDA with our equitycontribution a strong consolidated businesses from MC uEBITDA (€m) and uEBITDA margin (%) EBITDA (€m) and EBITDA margin (%) +38% +28% 473 525 410 343 +38% +19% 255 274 230

  14. Slide 14: Net result reflecting improved operational performance

    Net result reflecting improved operational performance +41% 102 +23% 72 Net Result 59 (€m) 48 2Q24 2Q25 1H24 1H25 14

  15. Slide 15: Resilient Cash Flow generation and ongoing deleveraging process

    Net Debt LTV (€m; L12M) (%) 2 125 15,9 13,8 254 219 -90 -328 -75 Operational Dividends Financial Portfolio M&A impacts Net debt var. 1) cash flow received activity cash flow generation 4Q24 1Q25 1) Before dividends payment and debt with partners Resilient Cash Flow generation and ongoing deleveragin

  16. Slide 16: NAV increased to €4.7bn

    NAV (€bn) Strong operational performance of our businesses led NAV to increase to €4.7bn 2.44€ per share +7.3% +0.09 4.75 +0.08 +0.14 +0.02 4.43 YE24 Retail Real Estate Telco & Tech Holding and others 1H25 16 Note: NAV per share excludes own shares

  17. Slide 17: Q&A

    Q&A

  18. Slide 18: Sonae

    Sonae

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