Sonae Indústria’s consolidated turnover reached circa Euro 220.2 million in 2018, a reduction of Euro 10.8 million (-4.7%) vs. 2017, driven by lower sales volumes in its Laminates and Components business (particularly to the Nordic markets) and by the depreciation of the Canadian Dollar vs. the Euro of 9.1 million euros, leading to a reduction of sales in euros from its North American business, despite the increase in local currency sales.
For the 4Q 2018, consolidated turnover reached Euro 51.3 million, a reduction of circa Euro 0.9 million compared to the 4Q 2017, as the company said in the press release received by Lesprom Network.
Recurrent EBITDA in 2018 reached circa Euro 26.7 million, a reduction of Euro 11.4 million vs. 2017. The lower Recurrent EBITDA when compared to the previous year is mainly explained by the reduction in turnover, as explained above, and particularly by the increase in variable costs. The Recurrent EBITDA margin in 2018 reached 12.1%, down by 4.4 p.p. vs. 2017.
On a quarterly basis, Recurrent EBITDA for the 4Q 2018 stood at Euro 4 million, with 7.8% Recurrent EBITDA margin, the negative evolution in the quarter being mostly explained by the performance of its North American business that, despite having registered in October the best month of production and EBITDA result of 2018, was negatively affected in terms of production volumes and maintenance costs as previously mentioned.
Consolidated EBITDA in 2018 reached Euro 29.2 million, a reduction of circa Euro 10.1 million euros vs. 2017.
On a quarterly basis, Consolidated EBITDA in 4Q 2018 reached Euro 7.1 million, a reduction of Euro 1.5 million and Euro 1.1 million euros vs. 4Q 2017 and 3Q 2018, respectively.
Sonae Indústria is one of the largest wood-based panel producers in the world.
