Sonae recorded a total profit of 179 million euros in 2022, 17% less than in the previous year, a decrease justified by the company with the “effort to be on the side of families and to reduce some of the inflation on catch,” was announced today.
Net income attributable to shareholders, excluding non-recurring items, decreased by 17% to EUR 179 million in 2022.
Sonae justified this decline with the “effort to side with families absorbing some of the inflation.”
Add to this the increase in costs and the indirect impact of -43 million euros, “due to the impairments in the fashion retail business, the devaluation of Sierra’s assets and the impact on the value of Bright Pixel’s assets”.
In the fourth quarter of 2022 alone, Sonae had a negative recurring net result of EUR 10 million.
Consolidated turnover in turn amounted to 7,700 million euros, a year-on-year gain of 10.9%.
Aggregate online sales increased by 17% during this period and amounted to more than EUR 700 million.
Sonae’s underlying earnings before interest, taxes, depreciation and amortization (EBITDA) grew 6% to EUR 635 million.
In 2022, the group invested 1,000 million euros in Portugal.
Consolidated investments rose by 34% to EUR 634 million.
In terms of portfolio management, Sonae invested EUR 277 million (+42%) and collected EUR 301 million from asset sales.
Consolidated net debt fell to 540 million euros, “the lowest value of this century”.
Last year, the company and its businesses created more than 1,200 jobs, with an emphasis on retail, increasing the number of employees to about 48,000.
The net value of Sonae’s portfolio amounted to EUR 4,000 million at the end of 2022, in line with last year.
Food Retail (MC) had lower profitability per business unit, also penalized by inflation.
“In this demanding and challenging context, MC has been at the side of families, adapting its value proposition to the needs of its customers and investing in expanding its store network to bring its benefits to a growing number of people,” he emphasized. .
Nevertheless, “the investment made and the recognition of this effort to contain the impact of customer inflation” led to a turnover of 6,000 million euros, an increase of 11.5%.
In the electronics segment, Worten had a turnover of 1,200 million euros, 5.4% more than in 2021.
The turnover of Zeitreel, active in the fashion sector, increased by 12% to 387 million euros, below the figures of 2019.
Sierra, for its part, increased assets under management not related to retail activities to 1,300 million euros, an increase of 700 million euros.
In the year under review, Bright Pixel invested 48.7 million euros in its portfolio companies and in new companies.
NOS’s turnover increased by 6.3% to 1,500 million euros, while net income, excluding capital gains from the sale of towers, amounted to 138 million euros, 4% less than in 2021.
In sports retail, ISRG sales grew 8.6% from August to October compared to the previous year, and in financial services, the Universo card passed the one million user mark.
In view of these results, the Board of Directors of Sonae will propose the payment of a dividend of EUR 0.0537 per share.
Sonae CEO Cláudia Azevedo, quoted in the same note, noted that there are always “unexpected risks” but was confident about the future.
“This year is already full of dynamic projects and initiatives, full of innovation and sustainability. We will continue to drive growth and work together to create a better future for all,” he said.
Source: DN
