Posted November 23, 2017
Sonae Indústria's consolidated turnover for the first nine months of the year reached Euro 178.8 million, a reduction of 2.1% vs. 9 months 2016 (Euro -3.9 million), as the company said in the press release received by Lesprom Network.
Recurrent EBITDA for the first nine months of the year reached Euro 30.8 million, a reduction of Euro 1 million (-3.1%) vs. 9 months of 2016 with an underlying Recurrent EBITDA margin of 17.2%, down by 0.2 p.p. vs. 9 months of 2016, driven by a lower contribution from the North American business, negatively affected by the higher chemical costs and lower production volumes.
Recurrent EBITDA for 3Q17 stood at Euro 10.1 million, a decrease of Euro 2.9 million, when compared to 3Q 2016 and generating a Recurrent EBITDA margin of 17.7%, down by 3.3 p.p. vs. last year. This result was driven mainly by its North American business that during 3Q 2016 achieved a record Recurrent EBITDA level and during which chemical costs were significantly lower than in 3Q 2017.
Net results for the first nine months of 2017 were positive Euro 20.9 million, an improvement of Euro 42.2 million, when compared to same period of last year.
For the 3Q 2017, the net result reached Euro 6.9 million, an improvement of Euro 0.7 million vs. 3Q 2016.
Sonae Indústria is one of the largest wood-based panel producers in the world.