Sonae Indústria's consolidated turnover reached Euro 201.8 million in 2020, a reduction of 12.2% vs. last year, driven essentially by its North American business with lower sales volumes (in local currency but also affected by circa Euro -5.5M effect from the depreciation of the Canadian dollar vs. the Euro).

Wooden Panels

Sonae Indústria's consolidated turnover fell 12.2% in 2020

Sonae Indústria"s consolidated turnover fell 12.2% in 2020

Image: Sonae Indústria

Sonae Indústria's consolidated turnover reached Euro 201.8 million in 2020, a reduction of 12.2% vs. last year, driven essentially by its North American business with lower sales volumes (in local currency but also affected by circa Euro -5.5M effect from the depreciation of the Canadian dollar vs. the Euro). The evolution of the consolidated turnover was clearly impacted by the Covid-19 outbreak, with significant negative impacts particularly in 2Q 2020 (circa -32% vs. 2Q19), followed by a gradual recovery in 3Q 2020 and specially in 4Q 2020 (-15% and +4%, respectively, vs. 3Q 2019 and 4Q 2019).

Recurrent EBITDA in 2020 reached Euro 28 million, an increase of circa Euro 1.6 million vs. 2019, explained by a reduction in variable and fixed costs, which more than offset the reduction in consolidated turnover.

Consolidated EBITDA in 2020 reached circa Euro 26.7 million, an increase of Euro 0.9 million vs. 2019. The evolution in consolidated EBITDA is mainly explained by the aforementioned performance of Recurrent EBITDA.

Sonae Indústria is a company which manages different businesses in the areas of wood based panels, laminates and decorative products for application in the construction and interior design industries.