Sonae reports record €10 billion in sales for 2024, reinforcing global market position

PORTO, Portugal, March 24, 2025 /PRNewswire/ -- Sonae (Euronext Lisbon: SON), the Portuguese-headquartered multinational group with leading market positions across key sectors, announced record financial results for the full year 2024. The group's revenue increased by 18%, reaching €9.95 billion, driven by strengthened market leadership in retail, sustained organic growth, and strategic acquisitions.

EBITDA also grew substantially, surpassing €1 billion, while net profit attributable to shareholders rose by 18% to €223 million on a comparable basis. The group's investments reached a historic €1.589 billion — more than double the previous year — supporting both strategic acquisitions and organic expansion.

"2024 was a fantastic year for Sonae, and I am fully convinced that we have the foundations to achieve even greater success in the future" said Cláudia Azevedo, CEO of Sonae. "Expanding our portfolio and strengthening our core businesses led to reach two important milestones: group sales reached ca.€10bn, increasing by 18% year-over-year, and EBITDA surpassed €1bn. Investments were strategically managed to support value creation opportunities, including enhancing our digital capabilities, expanding our businesses, and executing key portfolio moves," concluded Cláudia Azevedo.

Sonae continues to demonstrate solid progress in its commitment to sustainable growth and long-term value creation. In 2024, 86% of the group's long-term financing lines were indexed to sustainable, green, or ESG performance criteria. Operational CO₂ emissions were reduced by 19% compared to 2022, and recyclable plastic packaging for private label products reached 90%.

Community support also increased, with €34 million invested in initiatives focused on food donations and education. Diversity remains a priority, with women now occupying 41% of leadership positions. Additionally, Sonae has proposed a dividend of 5.921 euro cents per share, reflecting a 6.5% dividend yield and a payout ratio of 52% of consolidated net income attributable to the group.

The Sonae group comprises:

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

Listed on Euronext Lisbon, Sonae employs more than 57,000 people and has a six-decade legacy of responsible growth recognised by its inclusion in the S&P Global Sustainability Yearbook, its strong CDP ratings, and its listing in the Bloomberg Gender-Equality Index. Its mission remains to create long-term economic and social value, bringing the benefits of progress and innovation to an ever-increasing number of people.

Find out more at www.sonae.pt

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SOURCE Sonae