Lisbon, July 31, 2025 (Lusa) - Portuguese retail conglomerate, Sonae recorded a profit of €102 million in the first six months of the year, an increase of 41% compared to €72 million in the first half of 2024, the company has announced.
In the statement with the half-year results presented to the Portuguese Securities Market Commission (CMVM) on Wednesday, the Portuguese group said that the total net profit was €139 million, with net profit attributable to shareholders of €102 million.
Turnover, which totalled €4.267 billion in the first half of 2024, rose to €5.253 billion in the first half of this year, reaching a “record” figure between January and June, the company said in a press release.
The 23% growth in turnover, says the company, “reflects the organic expansion” of the multinational at international level, gains in market share and the “consolidation of new companies” in the group.
In the second quarter (April to June), net income was €59 million, also up 23% on the same period last year.
The company explains the increase with an "improvement in the operating performance of the companies in the portfolio" and with "a favourable indirect result, mainly related to the value enhancement of shopping centres" of Sonae Sierra, the company that operates the Colombo and Vasco da Gama centres in Lisbon, NorteShopping, as well as other shopping centres in Portugal and abroad.
The group's EBITDA (earnings before interest, taxes, depreciation and amortisation) grew 28% to €525 million in the first half.
Sonae states that the growth is “particularly” due to the contribution of Sonae MC, the group’s food division, which includes the Continente hypermarkets, the Continente Modelo and Continente Bom Dia supermarkets, as well as Continente online and the Meu Super chain (franchised stores).
The group led by Cláudia Azevedo said in a statement that “in food retail, health, beauty and well-being, MC recorded strong turnover growth of 25% to €4.1 billion in the first half”.
Specifically in the second quarter, the company said, "Continente once again outperformed the market and strengthened its position as the leader in the food retail market in Portugal", with sales "driven by a significant increase in volumes, favoured by the Easter calendar effect".
In the electronics, marketplace and services business, Worten “recorded turnover of €636 million in the first half of 2025, up 7% year-on-year”.
Between April and June, it gained market share through its performance in digital sales. “The online channel remained a significant growth driver, representing 19% of total turnover in the quarter,” the company said.
In telecommunications, where Sonae has a 37.37% stake in NOS, the operator’s consolidated turnover was €458 million in the second quarter, supported by growth in the business segment.
“In Sonae’s consolidated accounts, NOS’s results under the equity method amounted to €20.3 million in the second quarter of 2025,” the company said.
Sonae is 53.05% owned by Efanor (owned by the Azevedo family, founder Belmiro de Azevedo). Sonae itself holds a 2.76% stake (in own shares), Criteria Caixa (Spanish group La Caixa) is a shareholder with a 5% stake, and 39.19% of the capital is held by other shareholders (the company is listed on the Lisbon stock market).
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