Sonae Indústria's consolidated turnover for the first nine months of the year reached circa Euro 183 million, up by 4% (or by Euro 7 million) when compared to the same period of 2015, on a comparable basis, as the company said in the press release received by Lesprom Network.
This improvement is explained by the continued improvement in the results of our Canadian operation y.o.y., which is expected to benefit from the recent strategic investment in a fifth melamine surfacing line that will support a better product mix with a higher share of melamine faced products. The average selling prices also contributed to this positive performance, as they kept the positive trend vs. last year. As in 1H16, our Laminates plant in Portugal showed improvements in terms of sales volumes, which grew by circa 49% y.o.y.
Proportional turnover stood at Euro 490 million during 9M16, which compares with Euro 484 million in the same period of last year, representing an improvement of 1.3%. This result was mostly driven by better performance of Sonae Indústria consolidated operations, as Sonae Arauco turnover was kept relatively stable y.o.y..
The Recurrent EBITDA for the first nine months of 2016 reached circa Euro 32 million, an increase of Euro 7.1 million (or up by 29%) when compared to same period of last year, with an implicit Recurrent EBITDA margin of 17.4% (+3.4 p.p. vs. 9M15), on a comparable basis.
During 3Q16, Sonae Indústria booked a Recurrent EBITDA of Euro 13 million, circa Euro 1.5 million above last quarter and circa Euro 2.9 million above the same period of last year, with an underlying Recurrent EBITDA margin of 20.9%, an improvement of 2.7 p.p. vs. last quarter and of 3.8 p.p. vs. 3Q 2015, on a comparable basis.
Consolidated EBITDA reached circa Euro 32 million, Euro 8 million higher than 9M 2015, on a comparable basis. In line with 1H16 results, the group’s consolidated performance was marginally but positively impacted by non-recurrent items related with inactive sites during the first nine months of the year, explained the sale of Coleraine land (UK) in April 2016, which generated a gain of circa Euro 0.8 million, more than offsetting the on-going costs of inactive sites.
Sonae Indústria is one of the largest wood-based panel producers in the world. It operates 21 production plants located in 6 countries on 3 continents.
