Sonae registers the highest profit of the last eight years. Revenue hits record high – Business

Sonae reported on its 2021 accounts, with CEO Cláudia Azevedo stressing that it was “a remarkable year”.

Net income attributable to shareholders was €268 million, compared to €71 million in 2020 – with Maxmat at MC and Bizdirect at Bright Pixel classified as held for sale, all periods of 2020 and 2021 being restated to include discontinued operations.

The company headed by Cláudia Azevedo points out in its report that last year’s profits have thus exceeded the values ​​of 2020 and 2019.

Consolidated turnover amounted to 7,023 million euros, a record value and an increase of 5.3% compared to 2020

These revenues were mainly supported by MC and Worten, “which again recorded very positive operating performances and reinforced their leadership positions”, specifies the company.

“NOS and ISRG also delivered strong performances, with strong recoveries in recent quarters,” he said.

“2021 has been a remarkable year for Sonae. A year of great progress in very difficult circumstances. Despite the strong restrictions linked to the pandemic and the continuation of extremely competitive environments, we continued to strengthen our market shares portfolio, dedication and ability to execute, innovate in the way we serve our customers, accelerate digitalization across the whole group and, above all, work together with renewed energy and ambition,” emphasizes Cláudia Azevedo.

The CEO says Sonae has continued to grow globally, “exceeding €7 billion in revenue for the first time in our history, with cumulative online sales exceeding €600 million” .

“We have succeeded in achieving this level of growth while maintaining our good performance in terms of profitability, with consolidated EBITDA up 18% year-on-year, to more than 730 million”, underlines the executive chairman of the distributor owner of Continente. .

“I am naturally proud of these results. But I am equally proud of the way we have stayed focused on the future. Collectively, we have invested more than a billion euros during the year to improve store parks, renewing digital channels, preparing logistics facilities for the future, ensuring the best next-generation digital networks and expanding our business portfolio into new areas of growth”.

Cláudia Azevedo points out that “2022 will not bring fewer uncertainties or fewer challenges than the last two years”. “But, more than ever, I am convinced that we are prepared for the future. We have very solid companies and leaders in their sectors, led by high quality teams. We also have a very stable financial situation, which that allows us to explore new and exciting opportunities. And we have a moral compass within the group that will be essential in creating a more sustainable future for generations to come.”

Dividend proposal at 0.0511 euros per share

“Given the net results for the year 2021, and in accordance with the dividend policy followed by Sonae, the Board of Directors will propose to the Annual General Meeting of Shareholders the payment of a dividend of 5.11 cents per share. , 5 14% higher than the dividend distributed during the past year”, specifies the report and the accounts.

This dividend corresponds to a dividend yield of 5.1%, based on the closing price on December 31, 2021 (which amounted to 1,003 euros), and to a distribution rate of 38% of the consolidated direct income. .

Last year, Sonae paid a gross dividend per share of 4.86 cents. In total, it distributed 97 million euros to shareholders, which corresponded to a distribution rate of 137% of the profits obtained in 2020.

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