May 29, 2015. /Lesprom Network/. Sonae Indústria’s consolidated turnover (continued operations) was Euro 258 million in the 1Q 2015, Euro 17 million above the 4Q 2014, but slightly below the 1Q 2014 level (-2.6%), mostly as a result of lower demand in the OSB segment in Northeast Europe. When compared to same quarter of 2014, the reduction in consolidated turnover was due to a combination of lower sales volumes (circa -3%) with higher average selling prices (+3.6%), as the company said in the press release received by Lesprom Network.
Compared to the previous quarter, sales volumes improved by 4.1%, driven by recoveries in the OSB and MDF segments. Average selling prices were kept stable, with increases in particleboard and melamine products offsetting the negative evolution witnessed in the remaining product categories.
Non-recurrent EBITDA items were close to Euro 4 million in the quarter and were essentially related with redundancy costs (Euro 2 million) and additional costs associated with inactive sites (Euro1 million). As result of the evolutions above, total EBITDA for 1Q 2015 reached Euro 21 million, up by Euro 6.3 million when compared to same period in 2014.
Net results improved by Euro 16million against 1Q 2014.
“The performance of our continued operations in the quarter showed a material improvement in the operating profitability of the business, with another quarter of EBITDA growth. This led to a last twelve months Recurrent EBITDA of Euro 101 million, up by Euro 5 million against the previous quarter. This positive evolution was driven by a better performance by all our operations, allowing us to achieve a Recurrent EBITDA margin of 9.6% in the 1Q 2015, 2.3 p.p. higher than in the same period of last year. It is also important to highlight that the net losses for the continued operations were reduced to Euro 3 million in the quarter, evidencing a very significant improvement of Euro 12 million over the same quarter of last year,” said Rui Correia, CEO of Sonae Indústria.
Sonae Indústria is one of the largest wood-based panel producers in the world.
