Sonaecom SGPS SA

07/24/2026 | Press release | Distributed by Public on 07/24/2026 11:55

Financial Data (EA2Q26ENG)

SNC Income Statement_summary

€m 2Q25 2Q26 yoy 1H25 1H26 yoy
Turnover 5.1 4.7 -7.2% 9.0 8.6 -3.7%
EBITDA 17.5 21.1 20.8% 34.3 38.0 10.7%
o.w. Equity method(1) 20.2 27.2 34.8% 40.0 47.3 18.2%
Direct Results 18.6 20.9 12.5% 37.2 39.4 6.0%
Indirect Results(2) -10.4 -5.0 51.6% -15.4 -2.1 86.6%
Net Income Group Share 7.7 17.6 128.6% 21.4 39.1 83.1%
Net Debt / (Cash) -221.3 -246.6 -11.5% -221.3 -246.6 -11.5%

(1) Includes the 50% holding in Unipress, the 50% holding in SIRS and the 37.37% holding in NOS; (2) Includes equity method related with AVP funds, and fair value adjustments related with ZAP and other minority stakes, net of taxes.

SNC Income Statement

€m 2Q25 2Q26 yoy 1H25 1H26 yoy
Turnover 5.1 4.7 -7.2% 9.0 8.6 -3.7%
EBITDA 17.5 21.1 20.8% 34.3 38.0 10.7%
Underlying EBITDA(1) -2.6 -2.8 -5.5% -5.5 -5.8 -6.7%
Non recurrent itens -0.1 -3.3 - -0.2 -3.4 -
Equity method(2) 20.2 27.2 34.8% 40.0 47.3 18.2%
Depreciation & Amortization 0.4 1.6 - 0.8 2.1 143.4%
EBIT 17.1 19.5 14.0% 33.5 36.0 7.4%
Net Financial Results 0.6 1.4 148.1% 2.0 2.7 38.5%
EBT 17.7 20.9 18.4% 35.5 38.7 9.1%
Tax results 1.0 0.0 -97.6% 1.7 0.7 -57.3%
Direct Results 18.6 20.9 12.5% 37.2 39.4 6.0%
Indirect Results(3) -10.4 -5.0 51.6% -15.4 -2.1 86.6%
Net Income 8.2 15.9 93.0% 21.8 37.4 71.2%
Group Share 7.7 17.6 128.6% 21.4 39.1 83.1%
Attributable to Non-Controlling Interests 0.6 -1.7 - 0.5 -1.7 -
€m 2Q25 2Q26 yoy 1H25 1H26 yoy
Underlying EBITDA-Operating CAPEX -4.1 -1.4 65.7% -7.4 -6.5 11.9%
Change in WC & Others -1.3 0.5 - 13.1 1.2 -
Operating Cash Flow -5.3 -0.9 82.7% 5.7 -5.3 -
Investments -15.6 -16.7 -6.9% -23.6 -18.2 23.1%
Dividends and other reserves distribution 77.0 86.6 12.5% 77.0 86.6 12.5%
Financial results 1.9 0.6 -65.9% 1.9 1.9 -0.6%
Income taxes 1.0 0.6 -40.2% 2.0 1.7 -18.7%
FCF(1) 58.9 70.3 19.2% 63.0 66.7 5.9%

(1) Includes the businesses fully consolidated by Sonaecom; (2) Includes the 50% holding in Unipress, the 50% holding in SIRS and the 37.37% holding in NOS; (3) Includes equity method related with AVP funds, and fair value adjustments related with ZAP and other minority stakes, net of taxes.

(1) FCF Levered after Financial Expenses but before Capital Flows and Financing related up-front Costs.

SNC Balance Sheet

€m 30.06.2025 31.03.2026 30.06.2026
Total Net Assets 1,371.5 1,421.7 1,414.8
Non Current Assets 1,136.4 1,209.1 1,159.4
Tangible and Intangible Assets and Rights of Use 5.5 4.7 3.0
Goodwill 1.2 1.2 1.2
Investments 1,103.9 1,181.2 1,132.2
Deferred Tax Assets 12.6 11.2 9.6
Others 13.2 10.9 13.5
Current Assets 235.1 212.7 255.4
Trade Receivables 3.7 2.5 1.6
Liquidity 225.0 204.9 248.8
Others 6.4 5.2 5.0
Shareholders' Funds 1,326.9 1,381.3 1,371.4
Group Share 1,310.0 1,365.0 1,357.0
Non-Controlling Interests 16.9 16.4 14.4
Total Liabilities 44.6 40.4 43.4
Non Current Liabilities 31.4 25.6 26.9
Loans 0.0 0.0 0.0
Provisions 0.3 0.4 0.7
Others 31.0 25.2 26.3
Current Liabilities 13.2 14.8 16.5
Loans 0.0 0.0 0.0
Trade Payables 1.3 1.4 1.2
Others 11.9 13.4 15.3
Operating CAPEX(1) 1.9 0.4 0.7
Operating CAPEX as % of Turnover 21.7% 10.3% 8.0%
Total CAPEX 25.7 2.1 19.1
Underlying EBITDA - Operating CAPEX -7.4 -3.4 -6.5
Gross Debt 3.7 2.6 2.1
Net Debt -221.3 -202.3 -246.6

(1) Operating CAPEX excludes Financial Investments.

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