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Sonae's Remarkable Growth in 2024

Sonae, the multinational group headquartered in Portugal, has made waves in the global market by announcing record annual sales of €10 billion for 2024. This milestone represents an 18% increase from the previous year, a feat achieved through enhanced market leadership, organic growth, and strategic acquisitions.

CEO Cláudia Azevedo hailed 2024 as "fantastic," attributing the success to the expansion of the company's portfolio and the fortification of core businesses. Sonae’s revenue growth was particularly buoyed by its leading position in retail, which has become a strength for the group. Not only did revenue soar, but the company's EBITDA also surpassed €1 billion, and net profits attributed to shareholders rose by 18% to reach €223 million on a comparable basis.

Furthermore, Sonae's historic investment of €1.589 billion in 2024—more than double the preceding year—fueled strategic acquisitions and organic expansions. Azevedo emphasized that these investments were placed on enhancing digital capabilities and executing pivotal portfolio moves, essential for sustaining value creation opportunities.

In line with its commitment to long-term value creation, Sonae is taking significant strides towards sustainable growth. In 2024, 86% of the group’s long-term financing was tied to sustainable, green, or ESG performance criteria. Notably, the company reduced operational CO2 emissions by 19% compared to 2022, while achieving 90% usage of recyclable plastic for private label products.

Community contributions have also been a priority, with Sonae investing €34 million in initiatives focused on food donations and educational programs. Notably, gender representation is improving within the organization, as women now account for 41% of leadership positions. Furthermore, the company has proposed a dividend of 5.921 euro cents per share, indicating a solid dividend yield of 6.5% based on a payout ratio of 52% of consolidated net income attributable to the group.

Sonae’s impressive growth profile includes being a leader in various sectors:

• - The largest food retail chain in Portugal, boasting over 1,000 stores and 4.5 million active loyalty card members.
• - The Iberian Peninsula's top operator in health, wellness, and beauty retail, generating €1.5 billion in annual revenues across over 800 stores.
• - A prominent electronics retailer expanding its presence in Europe with a growing network of technology repair services.
• - An international real estate entity co-controlling Latin America’s largest shopping centre operator.
• - The second-largest telecommunications provider in Portugal, leading the deployment of 5G across the country.
• - An active investor in technology, boasting a high-tech portfolio valued at €323 million.

With more than 57,000 employees and a legacy spanning six decades, Sonae’s commitment to responsible growth is recognized globally. The company’s inclusion in the SP Global Sustainability Yearbook and strong ratings from CDP highlight its dedication to sustainability initiatives. As Sonae looks towards the future, its mission remains focused on creating long-term economic and social value for a broader audience through continuous innovation and progress.

For more information about Sonae, visit www.sonae.pt.