Sonae Indústria reports audited consolidated results for the year ended 31 December 2017. Consolidated turnover reached circa Euro 231 million in 2017, a reduction of circa Euro 9.9 million (-4.1%) vs. 2016, as the company said in the press release received by Lesprom Network.
The reduction in consolidated turnover was primarily driven by lower sales volumes in our North American business, which more than offset the increase in average selling prices in the Canadian market, but also by lower sales to the Nordic markets by our Laminates & Components business in the second half of the year.
Consolidated EBITDA in 2017 reached Euro 39.3 million, Euro 1.1 million higher than last year, benefiting from positive non recurrent items in 2017.
Consolidated EBITDA in 4Q 2017 stood at circa Euro 8.7 million, an increase of circa Euro 2.3 million vs. 4Q 2016, due to the already mentioned increase in Recurrent EBITDA combined with positive non recurrent items this year.
Net results for 2017 were positive of circa Euro 15.3 million, an improvement of circa Euro 4.3 million, when compared to the Euro 11 million registered in 2016.
Sonae Indústria is one of the largest wood-based panel producers in the world.