Slide 1: 9M24 Results
9M24 Results November 14, 2024
Slide 2: Portfolio
Portfolio
Slide 3: Portfolio management 9M24 highlights
Portfolio management Reinforce Sonae’s 9M24 highlights international exposure • Partnership with Druni’s founders Lead in markets with • MC emerging as the main player in Iberia, with Wells, Arenal, and Druni brands strong growth tailwinds • Great recent trading performance Drive synergies across ou
Slide 4: Business by business
Business by \ | business
Slide 5: MC delivered strong results, reinforced by the Druni acquisition
MC delivered strong results, reinforced by Turnover and uEBITDA margin the Druni acquisition (€m) Grocery HWB +7.1% 4,716 +68.9% 4,405 LfL +4.4% 668 LfL 396 +10.0% 9.4% 9.5% 10.7% 12.4% 9M23 9M24 9M23 9M24 • Robust grocery growth with rising sales volumes • Footprint expansion remained a priority, w
Slide 6: Worten grew market share and expanded its repair services business
Worten grew market share and expanded its Turnover and uEBITDA margin repair services business (€m) +7.0% 942 880 LfL +3.5% 5.1% 4.9% (€m) 9M23 9M24 • Market share gains in Portugal, driven by strong online momentum, with offline also growing • iServices continued its international expansion, openin
Slide 7: Musti gained customers and market share in challenging Nordic consumer environment
Musti gained customers and market share in Turnover and adj. EBITDA margin challenging Nordic (€m) consumer environment +3.0% 426 438 17.3% 14.7% (€m) L12M L12M Sep.23 Sep.24 • Turnover increased in challenging environment, supported by ramp-up of new stores • EBITDA pressured by lower gross margin
Slide 8: Sierra maintained positive momentum
Sierra maintained positive momentum • Increased Net Result driven by strong performance of European shopping centers, enhanced gains from property sales, and improved asset valuations • Higher INREV NAV due to net result increase despite unfavourable FX impact Net Result INREV NAV (€m) (€m) +1.9% +1
Slide 9: Telco and Technology continued to deliver positive performances
Telco and Technology continued to deliver positive performances • Strong revenue growth, market position • Portfolio of +40 companies in cybersecurity, strengthened retail tech and infrastructure software • Robust performances of core Telco & IT, • In 3Q24, invested in Tamnoon and cinema & audiovisu
Slide 10: Consolidated view
Consolidated view
Slide 11: Turnover reached €7bn, led by retail growth and newly integrated businesses
Turnover reached Turnover €7bn, led by retail (€m) growth and newly +15.4% +35 6,966 +251 integrated businesses +61 +583 6,036 9M23 MC Worten Musti Other 9M24 11
Slide 12: Robust operational profitability with 8.8% uEBITDA margin
Robust operational uEBITDA profitability with 8.8% (€m) +21% uEBITDA margin +34 611 +72 -1 506 8.4% 8.8% margin +0.4pp margin 9M23 MC Musti Other 9M24 12
Slide 13: EBITDA boosted by uEBITDA and equity method results
EBITDA boosted EBITDA by uEBITDA and (€m) equity method +22% +25 706 results +105 -4 581 9.1% 9.6% margin margin 9M23 uEBITDA Equity Non 9M24 method recurrent results 13
Slide 14: Increased Net Result despite higher D&A and financing costs
Increased Net Result despite higher D&A and financing costs Direct Result Indirect Result Net Result (group share) (€m) (€m) (€m) +34 +14 201 149 135 167 -4 7 3 9M23 9M24 9M23 9M24 9M23 9M24 14
Slide 15: Net debt increased due to portfolio management activity
Net debt increased due to portfolio management activity (L12M, €m) +107 182 +147 -72 -858 -676 Operational Dividends received Financial activity Portfolio cash M&A impacts Net debt var. 1 cash flow flow generation 1) Before dividends payment and debt with partners 15
Slide 16: Financial ratios remain within defined limits following recent M&A activity
Financial ratios remain within defined limits following recent M&A activity Holding LTV Net Debt to EBITDA 1) Net Debt to adj. EBITDA % 2.8x 2.9x 2.4x 1.9x 16.0 Sep.23 Sep.24 Sep.23 Sep.24 LTV Gross Net Fin. Debt to % EBITDA AL 6.6 38.5 38.3 1.9x 1.5x Sep.23 Sep.24 Sep.23 Sep.24 Sep.23 Sep.24 1) EBI
Slide 17: Q&A
Q&A
Slide 18: Sonae
Sonae