Businesses in Brazil improve performance of Portuguese group Sonae Capital

1 August 2013

Portuguese group Sonae Capital in the second quarter of the year achieved a “significant improvement” in operating performance by posting 12 percent growth in turnover to 30 million euros, partly driven by the group’s operations in the Brazilian market, in the refrigeration equipment sector.

One of the growth factors for SonaeCapital’s turnover was expansion of Sistavac, with the Portuguese group noting “growth in the business of the Sistavac group, essentially in the international area (Brazil and export market)”.

In its results statement for the first half, Sonae Capital said that “in the second quarter of the year the group boosted its exposure to the international market (through exports and direct local sales), contributing to 2.6 million euros of growth in turnover in the first half (mainly in refrigeration and HVAC – heating, ventilation and air conditioning).

Overall, Sonae Capital’s net result for the first half improved by 6.8 percent, with the company reducing its losses from 12.8 million euros to 11.9 million euros.

In the first half of the year operating profit for Sonae Capital totalled 58.1 million euros, which was a rise of 4.5 percent year on year. (macauhub)