Sonae Industria posts reduced net loss of €78m for 2013.
23 April 2014Despite the loss, Portugese panel producer Sonae is expecting stabilisation in some of its markets and even a marginal improvement in the industry's trading environment.
Sales were down 7% to €1.23bn, mostly related to the group's reduced industrial footprint with the closure of the Knowsley factory in the UK and Solsona plant in Spain and ceasing of raw particleboard production at the Horn site in Germany.
Sonae said it was still far from its desired level of consolidated profitability and industrial efficiency, but the company remained confident it could achieve its objectives.
