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Strong earnings for Sonae Sierra

Eurobuild CEE 15 May 2018
EUROPE Shopping centre manager Sonae Sierra recorded a profit of EUR 15.3 mln net for the first three months of 2018, which represents a slight drop on the EUR 15.9 mln from the same period of the previous year.

The company claims that the fall was due to lower profits from the sale of its investments.

The company’s EBIT came in at EUR 27 mln up 8 pct y-o-y. The Direct Result rose to EUR 17 mln, a 12.6 pct improvement on the same period of 2017.

Tenant sales in the group’s shopping centre portfolio grew by 5.2 pct (excluding FX impact) overall and 5.7 pct across the European portfolio. In Romania, tenant sales grew 6.4 pct in absolute terms, due to the continuing success of ParkLake.


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