Sonae rises as 2024 sales beat forecasts

Sonae SGPS SA

20/03/2025 12:11

** Shares of Sonae YSO.LS gain around 2.8% after the owner of Portugal's largest food retailer said on Thursday its full-year sales rose to a record level in 2024, beating market expectations

** The conglomerate, which spans retail and telecoms, reported an 18.4% rise in consolidated sales to 10 billion euros, above the analysts' forecast of 9.6 billion euros

** JB Capital points out that Q4 EBITDA beat the company-compiled consensus by 5%, driven by a 7% rise in food retail earnings

     ** "Overall, the key focus of the release is food retail in our view, which continued to deliver stronger-than-expected results," it adds

** Stock is the biggest gainer on Lisbon's blue-chip PSI index .PSI20

 (Reporting by Marta Serafinko)

 ((Marta.Serafinko@thomsonreuters.com; +48 58 769 66 00;))