Sonae, SGPS, S.A. (OTCPK:SOSSF) Q3 2024 Earnings Call November 14, 2024 9:00 AM ET
Company Participants
João Dolores – Chief Financial Officer
Cristina Novais – Chief Financial Officer, Bright Pixel
Fernando Van Zeller – Chief Financial Officer, MC
Miguel Moreira – Chief Financial Officer, Sierra
Conference Call Participants
João Pinto – JB Capital
Jose Rito – CaixaBank
António Seladas – AS Independent Research
Operator
Good afternoon. We welcome you to Sonae’s 9 Months 2024 Results Conference Call. During the presentation, hosted by Mr. João Dolores, Sonae’s CFO, all participants will be in a listen-only mode. [Operator Instructions] I now hand the call over to Mr. João Dolores. Please go ahead, sir.
João Dolores
Thank you. Good afternoon, everyone. Thank you for joining us for Sonae’s results presentation for the first 9 months of 2024. We are pleased to update you on our performance, strategic advancements as well as on the outlook for the coming months. As usual, besides myself and the Investor Relations team, we have on the call, Cristina Novais from Bright Pixel; Fernando Van Zeller from MC; Paulo Simoes from Worten; and Miguel Moreira, recently appointed CFO of Sierra.
I would like to start by briefly recalling the significant moves in our portfolio in the first 9 months of the year, which together surpassed €1 billion in total investment. There are 2 transactions in particular that I would like to highlight. In March, we successfully integrated Musti, the leading pet care retailer in the Nordics into our portfolio through a public tender offer. Sonae currently owns just over 80% of the company and we see Musti as a platform for growth in the European pet care landscape.
And in July, we concluded the merger with Druni, establishing the leading health, wellness and beauty retail platform in Spain in partnership with Arenal. This
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