KEY FIGURES

 

CONSOLIDATED RESULTS (including IFRS16) i)                
(Values in Million EUR) 2017 2018 1Q19 1H19 9M19 2019 1Q20 1H20
Turnover 231.0 220.2 56.8 116.4 174.8 230.0 54.3 94.9
Operational profit / (loss) 23.0 16.3 0.7 4.7 8.9 4.4 1.3 1.7
Net financial charges -11.6 -11.6 -2.9 -5.7 -8.7 -11.5 -3.2 -5.7
Profit/(loss) before taxes 21.7 17.2 1.2 4.2 -1.3 -10.0 -1.3 -6.8
Net profit/(loss) attributable to Equity Holders 15.3 11.0 1.2 2.4 -4.2 -13.4 -1.2 -7.2
EBITDA 39.3 29.2 4.6 12.5 20.8 25.8 5.3 10.3
                 
Fixed assets 358.6 354.4 368.1 361.8 368.6 368.9 355.7 361.7
Headcount (FTE's) ii) 486 495 - - - 506 - -
                 
FINANCIAL INDICATORS (including IFRS 16) i)                
Equity Ratio 31.4% 33.7% 3.38% 33.8% 32.3% 30.3% 29.0% 27.5%
Senior Net Gearing iii) 165% 144% 152% 149% 158% 125% 139% 148%
Total Net Gearing 165% 144% 152% 149% 158% 164% 182% 192%
Recurrent EBITDA (annualized) 38.1 26.7 25.6 25.6 25.4 26.5 27.0 23.8

Senior Net Financial Indebtedness iii)

208.7 195.8 211.9 210.5 214.4 158.9 163.1 166.3
Senior Net Debt/ Recurrent EBITDA iii) 5.5 7.3 8.3 8.2 8.4 6.0 6.0 7.0
Total Net Financial Indebtedness 208.7 195.8 211.9 210.5 214.4 208.9 213.0 216.3
Total Net Debt / Recurrent EBITDA 5.5 7.3 8.3 8.2 8.4 7.9 7.9 9.1
                 

Proportional Recurrent EBITDA (annualized) iv)

88.5 73.6 71.8 67.3 65.0 63.9 62.0 52.0
Proportional Senior Net Financial Indebtedness iv), iii) 301.1 311.3 329.1 324.8 349.1 283.0 303.2 313.9
Proportional Senior Net Financial Indebtedness /  Proportional Recurrent EBITDA iv), iii) 3.4 4.2 4.6 4.8 5.4 4.4 4.9 6.0
Proportional Total Net Financial Indebtedness iv) 301.1 311.3 329.1 324.8 349.1 333.0 353.2 363.9
Proportional Total Net Financial Indebtedness /  Proportional Recurrent EBITDA iv) 3.4 4.2 4.6 4.8 5.4 5.2 5.7 7.0

i) Figures after 4Q18 include the effects from the adoption of the IFRS 16, effective from 1 January 2019. This new accounting standard on leases affects the comparability of Sonae Indústria 2019 results with previous years.

ii) FTE's excluding Sonae Arauco operations (3,264 at the end of 2017, 3,242 FTE’s at the end of 2018, and 3,316 FTE’s at the end of 2019, including 100% of Sonae Arauco and, in 2019, 100% of Laminate Park (the joint venture between Sonae Arauco and Tarkett for the manufacturing and sale of MDF/HDF laminate flooring)). 

iii) Senior Net Debt does not include the Subordinated Bonds (50 million euros) issued during 4Q19 which are however included in Total Net Debt. 
Proportional Senior Net Debt considers the full contribution of the Senior Net Debt of the fully owned businesses and the proportional consolidation of the 50% contribution from Sonae Arauco Net Debt.

iv)  Due to the fact that one of Sonae Indústria’s main assets (its 50% shareholding in Sonae Arauco) is accounted by the Equity method, Proportional financial indicators are presented, given their relevance for the purpose of valuation and leverage analysis of Sonae Indústria today.

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