Sonae Sgps Sa · EURONEXT:SON

Sonae Sgps Sa — Investor Presentation (April 2002)

71 slides from Sonae Sgps Sa's investor presentation, April 2002

  1. Slide 1: Sonae SGPS

    sonae sgps APRIL 2002 * www.sonae.pt * Data as of 31 December 2001

  2. Slide 2: Sonae SGPS Business Portfolio

    SONAE SGPS BUSINESS PORTFOLIO SONAE SGPS 94.40% 50.01% 70.48% 67.04% 79.17% 100% Sonae Modelo SonaeCom Sonae Indústria Continente Sonae Imobiliária Capital Wood Based Panels Food Retail Shopping Centres Telecommunications Tourism Non Food Retail Services Packaging Pulp&Paper S. I. PROPERTY S. I. DEV

  3. Slide 3: Business Portfolio Configuration

    SONAE SGPS BUSINESS PORTFOLIO CONFIGURATION SONAE takes an active role configuring its business portfolio in three horizons Emerging Businesses Growth Businesses Mature Businesses Options for potential future development Mature businesses with High growth businesses with potential for strong profit

  4. Slide 4: Business Portfolio Configuration: Sonae Distribuição

    SONAE SGPS BUSINESS PORTFOLIO CONFIGURATION SONAE DISTRIBUIÇÃO (RETAIL) SONAE also aims to foster the dynamics of growth within each business by stimulating the development of similarly balanced portfolios within each sector Horizon 3 Horizon 2 Horizon 1 B2C Portugal Food Retail – Brazil Retail Fran

  5. Slide 5: Current Sectorial Strategy

    SONAE SGPS CURRENT SECTORIAL STRATEGY To concentrate resources on businesses with the highest value creation potential and where SONAE has or can achieve competitive leadership Wood Based Panels . Complete restructuring in France and Germany by end 2001 . Consolidate high growth / high profitability

  6. Slide 6: Value Creation by Sonae 1986-2001

    SONAE SGPS VALUE CREATION BY SONAE 1986 - 2001 Total Return for Shareholders Market Capitalization (Euro millions) INDEX (Basis=100) 4,764 7.000 6.000 5.000 4.000 3.000 1,620 Sonae 2.000 SGPS 1.000 PSI 30 BASE=100 0 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 Source: BVLP; Sonae SGPS Sonae SGPS

  7. Slide 7: Prospective Capital Employed 2001-2006 by Sector

    SONAE SGPS BUSINESS PORTFOLIO DEVELOPMENT Euro millions Prospective Capital Employed 2001 - 2006 by Sector ∆ CE ( ) C.A.G.R. 4.326 6.765 (2001-2006) Tourism 3% 5% 222 ( + 23%) • 9% C.A.G.R. in capital 10% 13% employed Telecoms 447 ( + 15%) Wood Based 40% 28% • Strong increase in exposure Panels 174

  8. Slide 8: Prospective Capital Employed 2001-2006 by Region

    SONAE SGPS BUSINESS PORTFOLIO DEVELOPMENT Euro millions Prospective Capital Employed 2001 - 2006 by Region 4.326 6.765 ∆ CE ( ) C.A.G.R. (2001-2006) Rest fo the World 4% 3% 20% • Strong increase in exposure Brazil 22% to other EU countries 373 ( + 7%) Other Europe 20% 29% 1,086 ( + 18%) • Decrease o

  9. Slide 9: Consolidated Results for the Year 2001

    SONAE SGPS CONSOLIDATED RESULTS – FOR THE YEAR 2001 Euro millions 2000 2001 ∆ Turnover 5,751.0 6,385.9 + 11% Operating Profit (EBIT) 203.6 226.5 + 11% Net Financial Charges (130.4) (190.5) + 46% Profit on Ordinary Activities 73.3 36.1 - 51% Extraordinary Profits 258.2 49.9 - 81% Associated Companies

  10. Slide 10: Turnover 2001 by Sector and Geography

    SONAE SGPS TURNOVER – YEAR 2001 Euro millions CONTRIBUTION BY SECTOR AND BY GEOGRAPHY 6,386 5,751 Retailing Brazil 5,202 Portugal 23% 59% 57% 3,075 Shopping 2,585 Centres Rest of 2,255 4% Europe 13% Telecoms 11% Tourism Rest of the Wood Sonae 1% World 1996 1997 1998 * 1999 * 2000 2001 Based Capital

  11. Slide 11: EBITDA 2001 Contribution by Sector

    SONAE SGPS EBITDA – YEAR 2001 Euro millions CONTRIBUTION BY SECTOR 49 (0.5) 3 (6) 604 71 Brazil 107 Portugal 226 154 Wood Retailing Shopping Telecoms Tourism Sonae Holding & TOTAL Based Centres Capital Others Panels # 11

  12. Slide 12: Profit Before Minority Interests 2001

    SONAE SGPS PROFIT BEFORE MIN. INTERESTS – YEAR 2001 Euro millions CONTRIBUTION BY SECTOR 72 (106) 16 70 131 32 (9) (66) Wood Retailing Shopping Telecoms Tourism Sonae Holding & TOTAL Based Centres Capital Others Panels # 12

  13. Slide 13: Balance Sheet December 2001

    SONAE SGPS BALANCE SHEET – 31 DECEMBER 2001 Euro millions 2000 2001 Fixed Assets 5,369.1 5,464.2 Stocks 721.1 774.7 Debtors 1,137.5 1,060.3 Cash and short term investments 193.2 415.6 Deferrals 453.1 566.2 Total Assets 7,874.0 8,281.0 Shareholders’ Funds 1,807.1 932.5 Minority Interests 806.1 932.0

  14. Slide 14: Gross Investment 2001

    SONAE SGPS GROSS INVESTMENT – YEAR 2001 Euro millions CONTRIBUTION BY SECTOR AND GEOGRAPHY 204 1,509 47 252 44 Portugal Brazil 57% 17% 216 338 Rest of Europe 408 25% Rest of the World 1% Wood Retailing Shopping Telecoms Tourism Capital Holding & TOTAL Based Centres Others Panels # 14

  15. Slide 15: Net Debt 2001

    SONAE SGPS NET DEBT – YEAR 2001 Euro millions CONTRIBUTION BY SECTOR 871 3,497 540 44 37 411 789 806 Wood Retailing Shopping Telecoms Tourism Capital Holding & TOTAL Based Centres Others Panels # 15

  16. Slide 16: Consolidated Financial Structure: Net Debt and Gearing

    SONAE SGPS CONSOLIDATED FINANCIAL STRUCTURE Net Debt Net Gearing (values in Euro million) Net Debt / (Shareholders’ Funds + Minority Interests) 3,497 191% 187% 3,377 3,173 172% 175% 3,071 2,851 159% 2,577 2,428 135% 131% 2,148 121% 124% 98% 93% 83% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Yea

  17. Slide 17: Consolidated Financial Structure: Net Debt/EBITDA, Interest Cover

    SONAE SGPS CONSOLIDATED FINANCIAL STRUCTURE Net Debt / EBITDA (a) Interest Cover (EBITDA / Interest Paid) 7.4x 6.0x 5.8x 5.6x 5.6x 4.8x 4.5x 4.4x 3.6x 3.7x 3.0x 3.1x 3.0x 3.1x 2.5x 2.3x 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 (a) Calculated on a yearly

  18. Slide 18: Consolidated Financial Structure by Business

    SONAE SGPS CONSOLIDATED FINANCIAL STRUCTURE Euro millions To analyse Sonae’s debt position correctly it’s not enough to look at the consolidated figures. The adequacy of the capital structure in each business of its portfolio can be summarised, as follows: Net Debt EBITDA Net Debt / EBITDA Wood Base

  19. Slide 19: Sonae Indústria

    sonae indústria

  20. Slide 20: Indústria Business Portfolio

    Euroresinas 100% Poliface SIR Resoflex 100% Tafiber Tafisa Espanha Taiber 100% Tafisa France SONAE INDÚSTRIA 98% Glunz TAFISA 100% 94.77% Tafisa UK BUSINESS PORTFOLIO 60% Tafisa Canada SONAE INDUSTRIA 63% Tafisa Brasil 100% Tafisa South Ifloma Africa 50% Gescartão (65%) IMOCAPITAL # 20

  21. Slide 21: Indústria Turnover 2001

    SONAE INDÚSTRIA TURNOVER – YEAR 2001 By Product By Market South Africa Rest of the World Others Plywood 5% Portugal 5% 9% 8% 8% South America Value Added 5% Spain Products 14% 16% MDF North America 21% 9% Hardboard 2% France Particleboard 17% Rest of Europe 14% 11% Surfaced 26% OSB UK Flooring 1% 7%

  22. Slide 22: Indústria EBITDA Margin: Iberia and Rest of Europe

    SONAE INDÚSTRIA EBITDA MARGIN – IBERIA AND REST OF EUROPE Iberia France 17% 17% 17% 16% 16% 15% 15% 15% 5% 4% 2% 0,4% -2% -1% -1% -1% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 UK Germany 11% 9% 7% 5% 5% 5% 5% 4% 3% 1% 1% 2% -2% -2% -1% 1Q 2Q 3Q 4Q 1Q 2Q

  23. Slide 23: Indústria EBITDA Margin: Canada, Brazil, South Africa

    SONAE INDÚSTRIA EBITDA MARGIN – IBERIA AND REST OF EUROPE Canada Brazil 48% 44% 40% 38% 35% 32% 32% 32% 32% 29% 25% 19% 20% 18% 17% 13% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 South Africa 27% 20% 21% 19% 9% 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 # 23

  24. Slide 24: Indústria Financial Structure: Net Debt and Gearing

    SONAE INDÚSTRIA CONSOLIDATED FINANCIAL STRUCTURE Net Debt Net Gearing (values in Euro million) Net Debt / (Shareholders’ Funds + Minority Interests) 243% 904 867 872 806 149% 777 148% 151% 151% 768 748 143% 131% 121% 595 107% 107% 98% 71% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Yea

  25. Slide 25: Indústria Financial Structure: Net Debt/EBITDA, Interest Cover

    SONAE INDÚSTRIA CONSOLIDATED FINANCIAL STRUCTURE Net Debt / EBITDA Interest Cover (EBITDA / Interest Paid) 6.8x 6.5x 6.1x 5.9x 5.6x 5.6x 5.3x 4.3x 3.4x 3.1x 3.1x 2.8x 2.1x 2.2x 1.9x 1.6x 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 # 25

  26. Slide 26: Indústria Restructuring & Expansion

    SONAE INDÚSTRIA RESTRUCTURING & EXPANSION Closures in 2001 Openings in 2001 UK - Decorative panels, in Peterlee (March 2001) Portugal - Souselas (Sawmill – 80,000 m3) – March 2001 - Sines (Formaldehyde and resins) – June 2001 France - Hardboard, in Labruguière (April 2001) - Oliveira do Hospital (Su

  27. Slide 27: Indústria Restructuring and Expansion

    SONAE INDÚSTRIA RESTRUCTURING AND EXPANSION . Complete restructuring of production base in France and Germany by end 2001 Northern Europe . Expand capacity of high growth products: Flooring, OSB . Develop UK market position backed by new capacity brought on stream 1H 2000 . Consolidate market (30% o

  28. Slide 28: Sonae Distribuição

    | SONAE DISTRIBUICAO Je)at-(-4 GIStriDUICaO

  29. Slide 29: Distribuição Business Portfolio

    SONAE DISTRIBUIÇÃO BUSINESS PORTFOLIO MODELO CONTINENTE 100% 88,15% 100% Modelo SONAE Modelo DISTRIB. Continente BRASIL Continente Food Retail Portugal Food Retail Brazil Non-Food Retail BIG Continente Modalfa Cândia (S.Paulo) Modelo Worten Mercadorama (Paraná) Modelo Bonjour Max Mat (50%) Nacional

  30. Slide 30: Distribuição Current Position 2001

    SONAE DISTRIBUIÇÃO CURRENT POSITION – YEAR 2001 Food Retail Portugal Food Retail Brazil Non Food Retail Portugal High medium-term growth Rapidly maturing market Fragmented market potential Eur 2,235 * 106 Gross Sales Eur 1,651 * 106 Gross Sales Eur 422 * 106 Gross Sales (+ 6 % YoY) (- 1 % YoY; + 13%

  31. Slide 31: Distribuição Business Portfolio 1999-2002

    SONAE DISTRIBUIÇÃO BUSINESS PORTFOLIO – 1999-2002 1999 2002 Modalfa High Worten Modelo Continente Profitability S. Catarina (Brazil) Medium e-commerce Paraná (Brazil) Vobis RGS (Brazil) Bonjour Max Mat Low S. Paulo (Brazil) Sport Zone Low Defying High Market share

  32. Slide 32: Distribuição Business Portfolio

    SONAE DISTRIBUIÇÃO BUSINESS PORTFOLIO Food Non Food FORMATS: FORMATS: „ Hyper „ Home Appliances „ Computer products „ Mini-Hyper „ Apparel „ Construction „ Supers „ Sport goods materials * Portugal 52% 10% Leadership in a mature 36% 10% Synergic growth market 25% 32% FORMATS: „ Hyper „ Supers Gross

  33. Slide 33: Portugal Modern Retail Market

    SONAE DISTRIBUIÇÃO PORTUGAL – MODERN RETAIL MARKET Food based formats – Market Leader 32% 21% 12% 11% 11% 7% Sonae JM Intermarché Auchan Carrefour Lidl and Minipreço Source: UCDR’s Market Share; Modelo Continente estimates 12 month average, as of December 2001 Non Food based formats Worten Market le

  34. Slide 34: Distribuição Portugal Portfolio 2001

    SONAE DISTRIBUIÇÃO PORTUGAL – PORTFOLIO YEAR 2001 Main formats Stores Sq.m (000) Gross Sales (At 31 Dec. 01) (M. Euro) Continente Hypermarkets 14 132 1,123 Modelo Mini-Hypermarkets 65 144 973 Modelo Bonjour Supermarkets 22 17 67 Modis Wholesale n.a. n.a. 72 Sub Total Food Retail 101 293 2,235 Worten

  35. Slide 35: Distribuição Brazil Retail Market

    SONAE DISTRIBUIÇÃO BRAZIL – RETAIL MARKET BRAZIL SÃO PAULO • Total Area (´000 km2) 248 ƒ Total Area (‘000 km2) 8,514 • Population (´000) 36,969 (22% total) ƒ Population (‘000) 169,590 • GDP (b EUR) 212 (36% total) ƒ GDP (b EUR) 599 ƒ per capita GDP (EUR) 3,530 • per capita GDP (EUR) 5,742 (1.6x nati

  36. Slide 36: Distribuição Brazil Portfolio 2001

    SONAE DISTRIBUIÇÃO BRAZIL – PORTFOLIO YEAR 2001 Stores Gross Sales Main formats Sq.m (000) (At 31 Dec. 2001) (M. Euro) São Paulo BIG Hypermarkets (1) 22 (3) 106 322 Paraná BIG Hypermarkets 11 (3) 58 239 Mercadorama Supermarkets (2) 29 40 193 Rio Grande do Sul BIG Hypermarkets 13(3) 74 311 Nacional S

  37. Slide 37: Distribuição Gross Sales by Portfolio

    SONAE DISTRIBUIÇÃO GROSS SALES – GLOBAL PORTFOLIO 2,235 2,119 615 4Q 1,669 1,651 447 4Q 603 3Q 365 3Q 541 2Q 419 2Q 422 348 156 4Q 476 1Q 420 1Q 103 3Q 87 2Q 76 1Q Food Retail Food Retail Brazil Non Food Retail Portugal Portugal # 37

  38. Slide 38: Continuous Investment in the Base Market

    SONAE DISTRIBUIÇÃO CONTINUOUS INVESTMENT IN THE BASE MARKET Total sq.m +43,000 845,000 +52,000 750,000 445,000 402,000 Brazil + 95,000 sqm [ + 13 % ] Portugal 348,000 400,000 2000 Portugal Brazil 2001 Expansion Figures include Maxmat # 38

  39. Slide 39: Distribuição EBITDA / EBIT Performance

    SONAE DISTRIBUIÇÃO EBITDA / EBIT PERFORMANCE Euro millions EBITDA Portugal 226 EBITDA Brazil 107 105 199 168 155 74 29 1998 1999 2000 2001 1998 1999 2000 2001 EBIT Portugal 166 EBIT Brazil 62 134 109 44 100 29 11 1998 1999 2000 2001 1998 1999 2000 2001 # 39

  40. Slide 40: Distribuição Financial Structure: Net Debt and Gearing

    SONAE DISTRIBUIÇÃO CONSOLIDATED FINANCIAL STRUCTURE Net Debt Net Gearing (values in Euro million) Net Debt / (Shareholders’ Funds + Minority Interests) 316% 933 884 897 845 266% 789 743 226% 643 193% 524 96% 77% 77% 82% 70% 71% 64% 43% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2

  41. Slide 41: Distribuição Financial Structure: Net Debt/EBITDA, Interest Cover

    SONAE DISTRIBUIÇÃO CONSOLIDATED FINANCIAL STRUCTURE Net Debt / EBITDA Interest Cover (EBITDA / Interest Paid) 5.1x 4.9x 4.5x 4.4x 4.0x 4.0x 3.8x 3.5x 3.5x 2.8x 2.8x 2.9x 2.4x 2.5x 2.4x 1.7x 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 # 41

  42. Slide 42: Distribuição Strategic Guidelines

    SONAE DISTRIBUIÇÃO STRATEGIC GUIDELINES Context Strategic guidelines . Sector consolidation . Continuous investment in the base market . Pro-active stance in the concentration movements in the Iberian Peninsula and Latin America . Consumer focus . Reinforce value proposal and operational efficiency

  43. Slide 43: Business Strategy – Value Creation

    SONAE DISTRIBUIÇÃO BUSINESS SRATEGY – VALUE CREATION GROWTH OPERATIONAL EFFICIENCY PORTUGAL Supply chain integration ƒ consolidation of market share through hyper & mini-hyper formats Category management ƒ development of neighourhood and - ECR partnership more convenience formats - own labels - spac

  44. Slide 44: Sonae Imobiliária

    SONAE IMOBILIARIA sonae ite) diltelar.

  45. Slide 45: Imobiliária Business Portfolio

    SONAE IMOBILIÁRIA BUSINESS PORTFOLIO SONAE IMOBILIÁRIA Shopping Shopping Shopping Shopping Centres Centres Centres Centres Portugal Southern Brazil Germany Europe Austria CascaiShopping1 (65)2 Centro Colombo1 (120)2 Parque Principado (25%) Shopping Penha (14%) (70)2 - Spain 3 DO Dortmund CoimbraShop

  46. Slide 46: Imobiliária Shopping Centres

    SONAE IMOBILIÁRIA SHOPPING CENTRES Number GLA ( ‘000 m2) Shopping Centres in operation 13 597 Portugal * Brazil 5 113 Spain 1 70 19 780 Shopping Centres under development Portugal 1 20 Brazil 1 105 ** Spain 3 92 Greece 1 60 6 277 Shopping Centres under management Portugal 857 Spain 158 Brazil 113 1,

  47. Slide 47: Development and Investment – Portugal

    SONAE IMOBILIÁRIA DEVELOPMENT AND INVESTMENT - PORTUGAL The total of projects under development as at 31/12/2001 corresponds to an investment of 1,180 M.€, of which 927 M.€ are attributable to Sonae Imobiliária, as follows: 71 M.€ , in Portugal, Setúbal Retail Coimbra Retail CascaiShopping Viana Sho

  48. Slide 48: Development and Investment – Spain

    SONAE IMOBILIÁRIA DEVELOPMENT AND INVESTMENT - SPAIN 152 M.€ , in Spain, Plaza Avenida Toledo SPAIN Málaga Outlet Mayor M 40 Shopping Location Málaga Málaga Madrid Toledo Opening Date 18 April 2002 Spring 2004 Spring 2003 Spring 2004 GLA (m2) 28,900 16,700 45,500 35,000 Gross Investment (Euro) 49.5

  49. Slide 49: Development and Investment – Rest of Europe

    SONAE IMOBILIÁRIA DEVELOPMENT AND INVESTMENT – REST OF THE EUROPE 580 M.€, in the rest of Europe,... Aegean 3 DO OTHER EUROPEAN MARKETS Brescia Centre Vienna Mitte Park Dortmund Dortmund, Location Athens, Greece Brescia, Italy Vienna, Austria Germany Opening Date Spring 2004 Spring 2005 Spring 2006

  50. Slide 50: Development and Investment – Brazil

    SONAE IMOBILIÁRIA DEVELOPMENT AND INVESTMENT - BRAZIL and 124 M.€ in Brazil. Parque D. Pedro Center Sul Location Campinas (SP), Brazil São Paulo (SP), Brazil Opening Datea 18 March 2002 October 2003 GLA (m2) 105,000 22,000 Gross Investment (Euro) 100.0 million 30.0 million Sonae Imobiliária’s shareh

  51. Slide 51: Shopping Centre Performance

    SONAE IMOBILIÁRIA SHOPPING CENTRE PERFORMANCE Gross Lettable Area (thousand sq. m) Average Monthly Sales per sq.m in 4Q 01 (EUR) 120 Colombo 462 72 NorteShopping 427 65 CascaiShopping 479 56 GaiaShopping 289 48 Vasco da Gama 438 42 AlgarveShopping 286 31 MaiaShopping 248 26 587 CoimbraShopping 27 23

  52. Slide 52: Sales Growth 00/01

    SONAE IMOBILIÁRIA SALES GROWTH 00/01 27% GuimarãesShopping 17% CascaiShopping NorteShopping 14% 11% MaiaShopping CoimbraShopping 8% Vasco da Gama 8% GaiaShopping 5% Colombo 3% Viacatarina 1% # 52

  53. Slide 53: Financial Structure: NAV and Loan to Value

    SONAE IMOBILIÁRIA CONSOLIDATED FINANCIAL STRUCTURE NAV of Total Properties Loan / Value (values in Euro million) (NAV of Sonae Imobiliária’s share) 934 752 643 32% 29% 459 22% 379 13% 12% 1997 1998 1999 2000 2001 1997 1998 1999 2000 2001 # 53

  54. Slide 54: Imobiliária Financial Structure: Net Debt and Gearing

    SONAE IMOBILIÁRIA CONSOLIDATED FINANCIAL STRUCTURE (a) Net Debt Net Gearing (values in Euro million) Net Debt / (Shareholders’ Funds + Minority Interests) 148% 141% 141% 436 420 406 119% 112% 105% 336 97% 319 89% 289 258 233 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 20

  55. Slide 55: Imobiliária Financial Structure: Net Debt/EBITDA, Interest Cover

    SONAE IMOBILIÁRIA CONSOLIDATED FINANCIAL STRUCTURE (a) Net Debt / EBITDA Interest Cover (EBITDA / Interest Paid) 5.7x 5.7x 5.7x 5.5x 5.4x 5.0x 5.1x 5.0x 3.6x 3.5x 3.6x 3.4x 3.1x 3.0x 3.0x 3.0x 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 (a) For the first t

  56. Slide 56: Sonae Com

    sonae com

  57. Slide 57: Com Business Portfolio

    SONAE COM BUSINESS PORTFOLIO SONAECOM (1) 45.89% 56.67% 100% 100% Mobile Fixed Data Multimédia SonaeCom and IT and Internet Ventures Optimus Novis Publico JVs & Alliances: Publico.pt BizDirect (Digital Marketplace JV) (45%) Clix (56.67%) We Do Consulting (100%) 20.00% 43.33% 43.33% Miau.pt (70%) Ena

  58. Slide 58: Optimus – Subscriber Growth

    SONAE COM OPTIMUS – SUBSCRIBER GROWTH Optimus subscribers, EOP (000’s) 1,916 1,791 1,650 1,511 1,410 1.153 At the end of December 2001 Optimus had 1.9 1.002 million customers, 81% were pre-paid 918 subscribers. Mobile penetration in Portugal stood at 86% Source: Operators 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Yea

  59. Slide 59: Optimus – Market Share

    SONAE COM OPTIMUS – MARKET SHARE Overall market share, EOPs (000’s) Optimus Vodafone TMN 3,456 3,754 4,933 5,193 5,765 6,716 6,.965 7,561 8,083 8,608 Optimus aims to achieve more than its 46% 45% 45% 45% 45% 44% 44% 44% 45% 45% natural share of net adds to guarantee continued market share growth. In

  60. Slide 60: Optimus – ARPU Evolution

    SONAE COM OPTIMUS – ARPU EVOLUTION ARPU evolution (Euro/sub/month) 40 36 32 Optimus Vodafone 28 TMN 24 20 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 1999 Year 2000 Year 2001 Year 1999 Year 2000 Year 2001 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Optimus 31.0 30.2 29.5 31.9 33.3 33.9 29.7 27.4 28.2 29.4 28.5 Vodaf

  61. Slide 61: Novis – Network Roll-out

    SONAE COM NOVIS – NETWORK ROLL-OUT Fibre Backbone Kms December 01 Extension 713 Fibre Pairs Installed 1.046 MAN Kms (Lisbon+Porto) December 01 Fibre Cable Installed 118 Fibre Pairs Installed 3.302 Microwave Link 186 FWA December 01 Nr. Base Stations: - Installed 21 - In operation 20 Coverage (sqkm)

  62. Slide 62: Novis – Total Active Customers Indirect Access

    SONAE COM NOVIS – TOTAL ACTIVE CUSTOMERS INDIRECT ACCESS (EoP) Residential SME (Small and Medium Enterprises) 102,526 70,148 48,978 42,337 36,134 5,186 4,202 3,216 842 1,932 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year Year Year 2001 2000 Year 2001 2000 SOHO (Small Offices and Home Offices) Corporate 13,496 15,137

  63. Slide 63: Novis – Direct Access Customers and Traffic

    SONAE COM NOVIS – DIRECT ACCESS CUSTOMERS AND TRAFFIC Direct Access (EoP) Traffic data (millions minutes) 598 2,194 FWA Excluding FWA 563 1,435 544 617 500 407 333 275 489 288 220 197 169 139 284 187 225 119 58 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year Year Year 2000 Year 2001 2001 2000 At the end of December 20

  64. Slide 64: Matrix – Internet and Multimedia

    SONAE COM MATRIX – INTERNET and MULTIMEDIA Pageviews per month (millions) Unique visitors (thousands) Clix Subscribers, EOP (000’s) 1,138 994 12 12 290 254 879 12 759 221 13 266 170 641 12 515 116 51 52 430 12 70 857 66 827 44 7 39 655 299 7 596 619 25 456 368 398 19 17 14 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

  65. Slide 65: Com Financial Progress: Turnover

    SONAE COM FINANCIAL PROGRESS Euro millions Turnover – Stand alone Accounts Optimus 171 Novis 167 37 146 130 134 127 111 25 94 23 19 11 12 7 8 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 Clix * Publico 10 10 10 10 8 8 8 8 5 4 2 2 4Q 1Q 2Q 3Q 4Q 2Q 3Q 4Q 1Q

  66. Slide 66: Com Financial Progress: EBITDA

    SONAE COM FINANCIAL PROGRESS Euro millions EBITDA Eliminating SAC deferral – Stand alone Accounts Optimus Novis 24 21 17 17 15 16 12 5 -7 -8 -11 -11 -12 -12 -14 -14 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 Clix Publico 2 -1,6 1,4 -3 0.8 -2,9 -3,4 0.5 -0

  67. Slide 67: Com Financial Progress: CAPEX

    SONAE COM FINANCIAL PROGRESS Euro millions CAPEX (excl. capitalised costs) * Optimus Novis Matrix 131 ** 16 11 11 11 3.4 8 54 2.4 5 2.1 32 4 1.5 21 25 26 27 1.0 19 3 0.5 0.1 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 Year 2000 Year 20

  68. Slide 68: Com Financial Structure: Net Debt and Gearing

    SONAE COM CONSOLIDATED FINANCIAL STRUCTURE Net Debt Net Gearing (values in Euro million) Net Debt / (Shareholders’ Funds + Minority Interests) 513 472 124% 457 429 380 100% 95% 348 86% 91% 82% 86% 79% 74% 58% 216 35% 142 23% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 20

  69. Slide 69: Com Financial Structure: Net Debt/EBITDA, Interest Cover

    SONAE COM CONSOLIDATED FINANCIAL STRUCTURE Net Debt / EBITDA Interest Cover (EBITDA / Interest Paid) 10.8x 9.5x 9.2x 8.2x 6.5x 3.7x 3.7x 3.1x 3.2x 2.6x 2.5x 2.1x 1.5x 1.9x 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Year 2000 Year 2001 Year 2000 Year 2001 # 69

  70. Slide 70: Sonae Capital

    sonae capital

  71. Slide 71: Capital Business Portfolio

    SONAE CAPITAL BUSINESS PORTFOLIO SONAE CAPITAL Spred Spinveste Choice Car Invicta Capitais Turismo Privados HotelManagement Joint -Ventures Construction, Car Hire Transport Change Partners (25%) Resort Manag. & & Risk Capital Real Estate & Retailing & Services Develop. & Engineering Leisure Fitness

Sonae SGPS — Investor Presentation (April 2002) on 6ix