Sonae Sierra increased its net profit by 80% in 2005 (PT)

Sonae Sierra has had a very positive 2005. In 2005 the company increased its total consolidated net profit attributable to equity holders by 80% to €148.1 million. EBITDA increased by 17%, from €107.6 million to €125.7 million, and direct net profit by 36%, from €50.8 million to €68.8 million.

In 2005, Sonae Sierra has achieved strong growth in all its financial indicators. The strategy has been steadily implemented as the company has expanded its international businesses and protected its leading position in Portugal.

2005 has been a year of considerable progress for Sonae Sierra. Not only has the company firmly established its new brand identity, it has also developed new markets in southern Europe, specifically in Greece and Italy, and consolidated its position in the other countries the company operates in.

2005 highlights:

  • NAV per share of 38.9 (+19% vs 2004)
  • Total NAV of 1,265 million at year-end
  • EBITDA increased of 125.7 million (+17%)
  • Asset gearing of 31.9%
  • Interest cover of 2.52
  • Shareholdings acquired in eight shopping centres
  • Four new shopping centers inaugurated
  • GLA under management in Portugal, Spain, Italy, Greece and Brazil totals 2 million m2
  • Operating in six countries with a team of 709 people and 11 different nationalities

Source: Sonae Sierra

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