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Ângelo Paupério
1Q17 Results
19 May 2017

The year of 2017 began well for Sonae. In a challenging quarter in year-on-year comparison, we grew in all businesses ensuring a profitability in line with our expectations. On a consolidated basis, turnover increased 6% and the underlying EBITDA grew 12.7%, highlighting the positive evolution in specialised retail.

Along with our positive operating performance, we moved ahead along our strategic growth avenues, concluding the acquisition of Brio, which will afford greater dimension and strengthen competencies in the dynamic area of healthy food. In the same way, in the Sports Fashion sector, we signed an agreement with JD Sprinter to create the 2nd Iberian sports player which, combining the assets and competencies that both Groups enjoy in the sector, will foment redoubled ambition in size and profitability.

We continue to benefit from a solid capital structure, with greater maturity on debt and lower financing costs, thus maintaining favorable conditions for the fulfilment of our growth ambitions and continuous improvement of the value propositions we present our customers.

 

Ângelo Paupério
Sonae Co-CEO

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