Sonae Sgps Sa · EURONEXT:SON
Sonae Sgps Sa — Sonae — Q1 2023 Earnings Presentation
13 slides from Sonae Sgps Sa's earnings presentation, May 18, 2023
Slide 1: 1Q23 Conference Call
1Q23 Conference Call May 18, 2023
Slide 2: Context
Context
Slide 3: Active portfolio management in the quarter
Active portfolio Acquisition of 10% stake in management in the Sierra, now owning 100% of the company quarter Agreement with Bankinter Consumer Finance for a 50/50 JV to create a leading consumer credit operator in Portugal Investment by Bright Pixel in 3 new technology companies
Slide 4: NAV increased by 2.6% vs YE22
NAV increased by 2.6% vs YE22 €m, based on market references +79 +6 4,079 +58 +28 3,974 -65 YE22 Retail - Var. Retail - Var. Real Estate Telco and tech. Net debt, 1Q23 Profitability Multiples Holding & others
Slide 5: Turnover reached €1.9bn in the 1Q23
Turnover reached Turnover €1.9bn in the 1Q23 €m +12.2% +23 +6 1,873 +175 LfL of +7.5% 1,669 LfL of +11.8% 1Q22 R MC Worten Other 1Q23
Slide 6: Solid operational performance with a broadly stable uEBITDA margin
Solid operational uEBITDA performance with a €m broadly stable uEBITDA margin +10.9% €m +3 +16 137 -5 124 7.4% 7.3% margin margin 1Q22 R MC Sierra Other 1Q23
Slide 7: EBITDA followed the operational trend
EBITDA followed the EBITDA operational trend €m +9.0% 161 147 1Q22 R 1Q23
Slide 8: Net result impacted by higher depreciations, taxes and financial costs
Net result impacted by higher depre- ciations, taxes and financial costs Direct Result Indirect Result Net Result (group share) €m €m €m -10 -16 42 42 -8 32 9 26 1 1Q22 1Q23 1Q22 1Q23 1Q22 1Q23
Slide 9: FCF stood at €181m after a significant investment effort
FCF stood at €181m after a significant investment effort L12M, €m +89 421 +266 +90 181 133 -377 -282 -26 EBITDA Working cap. Operational Operational Sale of assets M&A capex Net financial Dividends FCF* (inc. rents and others capex cash flow activity received and taxes) * Before dividends paid.
Slide 10: Net debt decreased further, and financial ratios remained solid and within targets
Net debt decreased further, and financial ratios remained solid and within targets Net debt Net Debt to EBITDA LTV holding €m % 2.9 2.8 8.6 7.4 931 922 -9 1Q22 1Q23 1Q22 1Q23 LTV gross Net Fin. Debt to EBITDA AL % 45.3 2.0 39.7 1.7 1Q22 var 1Q23 1Q22 1Q23 1Q22 1Q23
Slide 11: For 2023, we will…
For 2023, we will… …manage and adapt to …continue to support …use our solid the current uncertain and future-proof our financial position to macro and geopolitical portfolio companies grasp investment environment always with a focus on opportunities that may social and environmental arise sustainabi
Slide 12: Q&A
Q&A
Slide 13: Sonae
Sonae