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Sonae increases profit to 42 million and breaks sales record until March – Empresas

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Sonae increases profit to 42 million and breaks sales record until March - Empresas

Despite a loss of 59 million euros in the first quarter of 2020 and a profit of only one million euros in the same period last year, the Sonae group closed its accounts before March with a net result of 42 million euros, year on year. year EBITDA increased by 17.2% to 149 million euros.

Sales rose 5.1% to a record €1.69 billion, with MC (Continente)’s business accounting for almost €1.3 billion, up 3.8% on the first three months of last year.

“The start of 2022 has been very good for Sonae. Our businesses have continued to perform well in their respective markets and the group has maintained a robust growth trajectory with higher levels of profitability, resulting in a higher portfolio valuation,” says Claudia. Azevedo, CEO of Sonae, in a message accompanying the 2022 Q1 earnings presentation released this Wednesday, May 18, to the Securities Markets Commission (CMVM).

Claudia Azevedo also highlights numbers reflecting a robust capital structure with leverage ratios and comfortable liquidity levels: “Our consolidated results, together with portfolio management activities, generated €627 million in ‘free cash flow’ over the last 12 months, allowing for a significant reduction in net debt of approximately for 600 million euros,” he says.

Strictly speaking, the reduction in net debt over the past year amounted to 588 million euros, of which 368 million were between January and March 2022.

At the same time, in the first three months of this year, it invested 110 million euros in acquisitions.

“These results were achieved under very difficult conditions, marked by the Russian invasion of Ukraine,” notes Claudia Azevedo, noting that “despite the fact that Sonae was not subjected to direct and material contact with these countries,” the group’s business “already felt indirect consequences of the conflict, namely through rising energy prices, widespread inflation and restrictions in supply chains, having managed to overcome these problems,” he concludes.

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However, “regardless of how the global economy and financial markets develop, with our business group, strong financial position and the competence of our teams, we are well positioned to navigate through this cycle of uncertainty, continue to strengthen our competitive position and take advantage of the opportunities presented,” — says the CEO of the group based in Maya.

Fashion up, wear down, Sierra triples profits

In terms of business units, beyond the giant MC, which Sonae says “continues to gain market share,” the focus is on the fashion business, where he explores brands like MO, Salsa, and Zippy, “with Zeitreel able to get back up to sales in the first quarter of 2019, after two very difficult years for the fashion industry affected by the restrictions of the pandemic”, ending the first three months of 2022 with sales of 96 million euros, an increase of 57% compared to last year.

In the sports business, sales of ISRG (Iberian Sports Retail Group), Sonae’s joint venture with JD Sports, which owns the SportZone brand, rose 66% to €366m, with online channel share up 15.7% to 21.1% into circulation, “largely due to the acquisition of Deporvillage,” Sonae admits.

Wortena, after two years of strong growth in a row, “the electronics market in Portugal contracted in the first quarter of 2022, mainly due to the pandemic in the first quarter of 2021, which markedly improved the online channel and increased sales of computer products.” . In addition, a “less severe winter” has passed, which “limited the search to seasonal categories”.

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“This unfavorable context for the electronics market and the reorganization of the supply in the Spanish mainland contributed to the reduction in turnover. [da Worten] from 4.1% to 261 million euros in the first quarter of 2022,” says Sonae.

At Sierra, which represents the group’s real estate business, especially shopping malls, “there were positive signs of recovery in early 2022”, net income tripled to 9.8 million euros, while asset valuation increased by 5.1% to 972 million euros. which further emphasizes this tenant. sales are up over 90% year on year.

In financial services, Universe’s output increased by 23% to €257 million, gaining “96k new customers compared to the first quarter of 2021, reaching around 989k at the end of the first quarter of 2022,” he said. assures.

As of March, Nos recorded a turnover of 373 million euros, representing a year-on-year growth of 10.6%, driven by the media and entertainment segments (over 71.1%) and telecommunications (9%), “with a positive contribution from the impact of mobile subscriptions, B2B service solutions and roaming revenues through fewer travel restrictions,” explains Sonae. Profit increased by 35% to 41 million euros compared to the first quarter of last year.

Finally, Bright Pixel (formerly Sonae IM) “continues to actively manage her portfolio” by adding several sells (she left Safetypay and ciValue) and buys (she joined Experify and Hackuity) and took part in the €35 Cybersixgill promotion. millionth round of funding.

“At the end of the first quarter of 2022, the capital invested in the active portfolio reached 159 million euros, and the net asset value was 378 million euros,” Sonae concludes regarding the performance of its technology investment division for the first three months. this year.

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However, following the end of the quarter, Bright Pixel agreed with Thales Europe to sell all share capital and voting rights to Maxive, the holding company that includes S21sec and Excellium.

“The transaction has an underlying ‘corporate value’ of Maxive of €120 million and is estimated to have a positive impact on Sonaecom’s consolidated results of around €63 million,” Sonae clarifies.

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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