Sonae Sgps Sa · EURONEXT:SON
Sonae Sgps Sa — Sonae — H1 2023 Earnings Presentation
17 slides from Sonae Sgps Sa's earnings presentation, Jul 28, 2023
Slide 1: Sonae 2Q/1H23 Conference Call
Sonae 2Q/1H23 Conference Call July 28, 2023
Slide 2: Context
Slide 3: Active portfolio management
Active Acquisition of 10% stake in Sierra, now owning 100% Sierra Sonae Agreement with Bankinter Consumer Finance for a 50/50 JV to create a leading consumer credit operator in Portugal oO Ur iverso Investment in 6 Agreement to join new technology Druni and Arenal companies businesses and create the
Slide 4: MC
McC Sonae * Sustained leadership position * 413% yoy Turnover (+11% LfL) to €3.0bn * 9.2% uEBITDA margin * Expansion plan on track: +18 new stores (0/w 4 Continente Bom Dia) Sonae
Slide 5: MC and Worten
McC Sonae * Sustained leadership position * 413% yoy Turnover (+11% LfL) to €3.0bn * 9.2% uEBITDA margin * Expansion plan on track: +18 new stores (0/w 4 Continente Bom Dia) O Worten Sonae * Reinforced market share * Sustained online growth * +7% yoy Turnover (+5.5% LfL) to €557m * 4.5% uEBITDA marg
Slide 6: Sierra
Sierra Sonae Real estate business: continued to in the 1H23 * Continuing positive momentum of its European portfolio * Tenant sales double digit growth and 98% occupancy rate * Solid growth of services * Net Result increase to €38m ¢ Inrev NAV of €1,031m, +6% vs YE22 Sonae
Slide 7: Telco and technology
Telco and N Ry S technology: iS * 90% 5G population coverage * Solid top line performance (+4.5% yoy) 1 H23 * Improved EBITDA margin to 45.5% * Extraordinary dividend distributed (0 ow A Sonae
Slide 8: Telco and technology; BrightPixel
Telco and N Ry S technology: iS * 90% 5G population coverage * Solid top line performance (+4.5% yoy) 1 H23 * Improved EBITDA margin to 45.5% * Extraordinary dividend distributed m4 QC) BrightPixel Sonae ¢ Active portfolio management activity * +40 companies in the portfolio * Resilient valuations S
Slide 9: Turnover reached €3.8bn in the 1H23
reached Turnover €3.8bn in the 1H23 en
Slide 10: Solid operational uEBITDA performance
Solid operational UEBITDA performance with Gm merain & 7.9% of 264 7.7%
Slide 11: Net result followed the EBITDA operational trend
followed the EBITDA operational trend °n
Slide 12: D&As, financing costs and portfolio management impacted net result
D&As, financing costs and portfolio management impacted !Net result Direct Result Indirect Result Net Result (group share) . seems coe =m em €m 118 39 69 : a ma 1H22 1H23 1H22 1H23 1H22 1H23
Slide 13: FCF stood at €202m fuelled by operational performance, asset sales and dividends
FCF stood at ©202m fuelled by operational performance, asset sales and dividends 12M, €m EBITDA Working cap. Operational (inc. rents and others capex and taxes) * Before dividends paid. Operational Sale of assets M&A capex Net financial Dividends cash flow activity received
Slide 14: Net debt decreased further, and financial ratios remained solid
Net debt decreased further, and financial ratios remained solid and within thresholds Net Debt to Net debt aa ome LTV holding Sonae yy % 9.4 -_ 7 C a : S| 1,067 LJ 36... 1H22 1H23 1H22 1H23 LTV gross Sierra Net Fin. Debt to Neves % ™ EBITDA AL a a L - ul C 1H22 var 1H23 1H22 1H23 1H22 1H23 Sonae
Slide 15: NAV increased by 4.0% QoQ
NAV increased by 4.0% QoQ m, based on market references +8 Mar-23 ISRG Retail op. RealEstate Telco and tech. Net debt, transaction Profitability Holding & others
Slide 16: Q&A
Q&A
Slide 17: Sonae
Sonae