Previous Next
Sonae Sierra increases its net profit in 25%
23 May 2019 | Observatorio Inmobiliario

Sonae Sierra had a net profit of 19.1 million euro in the first quarter of 2019, which represents a 25% increase yoy.

Foto

 

«Sonae Sierra has shown a solid operational performance during the first quarter of 2019. The company remains focused on executing its strategy to increase its services’ offer, develop new projects and recycle its capital», states Fernando Guedes de Oliveira, the company’s CEO.

Sonae Sierra’s EBIT increased around 9%, due to a better performance from its portfolio in Europe and Brazil, as well as improvements in its services’ offer business. This is particularly significant since the EBIT increase was affected by real’s exchange rate and by asset sales.

Sonae Sierra had a direct profit of 19.6 million euro during the first quarter of 2019, a 16% increase yoy, due to a better performance from its portfolio, both in terms of rents and in terms of sales.