Sonae Sgps Sa · EURONEXT:SON
Sonae Sgps Sa — Sonae — Q1 2025 Earnings Presentation
16 slides from Sonae Sgps Sa's earnings presentation, May 22, 2025
Slide 1: Results 1Q25
Results 1Q25 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.
Slide 2: Results by business
Results by business
Slide 3: MC businesses delivered strong performances with consistent market share gains
MC businesses delivered strong performances with consistent market share gains Turnover (€bn) and uEBITDA margin (%) Grocery Health, Wellness & Beauty • Grocery volumes with robust growth despite calendar effects +7.1% +191% • Grocery margin 1.6 1.5 improvement of c.50 LfL 0.39 bps yoy fuelled by +5
Slide 4: MC's organic and inorganic growth fuelling consolidated turnover and profitability
MC’s organic and inorganic growth fuelling consolidated turnover and profitability Turnover (€bn) and uEBITDA Net Debt to EBITDA (x)1) margin (%) +22.5% 2.0 2.7x 2.7x 1.6 LfL +5.1% 8.6% 9.5% 1Q24 1Q25 1Q24 1Q25 4 1) EBITDA figures including L12M (pro-forma) contribution of Druni
Slide 5: Worten outperforming Portuguese electronics market
Worten outperforming Portuguese electronics market Turnover (€m) and uEBITDA margin (%) • Healthy turnover evolution across all segments with strong online performance +4.2% • iServices kept expanding 323 310 with 10 new stores in LfL 1Q25 +4.1% • Profitability affected by higher cost base to suppor
Slide 6: Musti strengthened its leadership position in the Nordics with signs of market rebound
Musti strengthened its leadership position in the Nordics with signs of market rebound Turnover (€m) and adj. EBITDA margin (%) • Performance driven by Pet City consolidation and a positive Nordics +11.8% performance 120 107 LfL • Resilient growth in both +1.2% customer base and average spend per cu
Slide 7: Sierra delivering overall positive operating results
Sierra delivering overall positive operating results • EU shopping centre portfolio Net Result (€m) NAV INREV (€bn) with robust tenant sales, strong occupancy (98%) and +15 +0.04 solid collection rates 29 1.11 1.14 • Services progressed with diversification strategy and recorded relevant growth • Ne
Slide 8: Telco and Technology with solid quarterly performances
• Strong performance of core Telco businesses • Portfolio of >45 companies across and completion of the acquisition of Claranet cybersecurity, retail technologies and Portugal infrastructure software • Net income up by >20% if excluded • Two new investments and follow-on extraordinary effects record
Slide 9: Consolidated view
Consolidated view
Slide 10: Turnover: MC, Musti and Worten fuelling topline
TURNOVER (€bn) MC, Musti and Worten fuelling topline +0.47 +0.08 +0.01 +0.01 2.55 +0.36 Turnover driven by both organic +0.10 and inorganic growth Food +0.26 HWB +22.7% 2.08 2.6 2.1 1Q24 1Q25 1Q24 MC Musti Worten Other 1Q25 10
Slide 11: EBITDA: Positive performance
EBITDA (€m) EBITDA boostedPositive performance by positive of of evolution both fullyour fully and our equity consolidated consolidated businesses businesses and resilient equity results uEBITDA (€m) and uEBITDA margin (%) EBITDA (€m) and EBITDA margin (%) +38% +39% 218 250 158 180 7.6% 8.5% 8.6% 9.
Slide 12: Net result reflecting improved operational performance
Net result reflecting improved operational performance +77% 43 Net Result 24 (€m) 1Q24 1Q25 12
Slide 13: Net Debt and LTV: sustained cash flow generation and deleveraging under way
Net Debt LTV (€m; L12M) (%) 2 117 16.3 15.9 172 147 -92 -451 -279 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 Sustained Cash Flow generation and deleveraging proce
Slide 14: NAV: strong operational performance led NAV to increase to €4.6bn
NAV (€bn) Strong operational performance of our businesses led NAV to increase to €4.6bn 2.39€ per share +4.5% +0.15 4.63 -0.02 +0.04 +0.03 4.43 YE24 Retail Real Estate Telco & Tech Holding and others 1Q25 14 Note: NAV per share excludes own shares
Slide 15: Q&A
Q&A
Slide 16: 16
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