Feb 28, 2013. /Lesprom Network/. Sonae Indústria reports audited Consolidated Results for financial year ended 31 December 2012 (FY12) which are prepared in accordance with IFRS (International Financial Reporting Standards). Compared to FY11, consolidated turnover for FY12 decreased by 2% to Euro 1,321 million with a reduction of approximately 3% in volumes sold. Price adjustments were not enough to compensate the lower activity which resulted in a 0.4pp recurrent EBITDA margin decrease to 7.5% of turnover. Total EBITDA in 2012 reached Euro 97 million, as the company said in a press release received by Lesprom Network. Consolidated turnover in 4Q 2012 totalled Euro 316 million, representing a 1% recovery from 3Q 2012. Recurrent EBITDA margin recovered slightly, despite seasonal higher costs, being helped by the improvement in South Africa. Total EBITDA in 4Q amounted to Euro 26 million. FY12 consolidated net losses from continued operations were Euro 55 million, a deterioration of approximately Euro 2 million compared with FY11, also due to the impairment on assets booked in 4Q. Net losses from discontinued operations were Euro 45 million, including impairment losses of Euro 41 million resulting from closing Knowsley plant. Consolidated net losses attributable to Sonae Indústria shareholders were Euro 99 million. CEO, Rui Correia said: “During 2012, we faced another tough year due to global macroeconomic instability, the sovereign debt crisis and the doubts regarding the survival of the Euro. These effects combined with further difficulties in accessing credit by companies and individuals, led to a weak activity in the construction and furniture industry, particularly in Europe. In 2012, volumes sold fell by 3% to 5 million cubic metres and consolidated turnover moved 2% down to Euro 1,321 million. This decline is mainly driven by the lower activity in the UK, France and Germany, when compared to the previous year. This effect combined with difficulties to pass on to the market variable costs increases, led to recurrent EBITDA margin decline of 0.4pp to 7.5%.” Sonae Indústria is one of the largest wood based panels producers in the world. The product range includes: particleboard; MDF (Medium Density Fibreboard); hardboard; OSB (Oriented Strand Board).