Sonae, SGPS, S.A. (OTCPK:SOSSF) Q4 2024 Earnings Conference Call March 20, 2025 11:00 AM ET
Company Participants
Joao Dolores – CFO
Fernando Van Zeller – CFO, MC
Cristina Novais – CFO, Bright Pixel
Conference Call Participants
Joao Pinto – JB Capital
Antonio Seladas – AS Research
Jerome van der Bruggen – Degroof Petercam
Operator
Good afternoon, ladies and gentlemen. Welcome to Sonae’s 2024 Results Presentation. Our host today is Mr. Joao Dolores, Sonae’s CFO. This conference starts with a presentation followed by Q&A. I will now pass the call on to Mr. Dolores. You may start, sir.
Joao Dolores
Thank you very much for the introduction. Good afternoon, everyone. Thank you for joining us for Sonae’s 2024 results presentation. I’m very happy to have you here with us today. As you will see, we had great results last year. Together with me as usual and besides the investor relations team, I have Cristina Novais on my left, Miguel Moreira as well, Fernando Van Zelle on my right-hand side, and Paulo Simoes. Today, we’re trying out a new format, a video one. I hope it works well and that it helps also in conveying the main messages that we have to convey to you.
So, I’ll start with briefly recalling the significant moves in our portfolio during 2024. As you know, it was a quite intense year in terms of investment. We invested over EUR1.1 billion in M&A efforts, and there are two transactions in particular which I would like to highlight, given the importance that they have for the group. So, in March, as you know, we successfully built a leading position, a majority position, in Musti, a reference pet care retailer in the Nordics through a public tender offer. Sonaei currently owns just over 80% of the company and we see Musti as a promising platform for growth in the European pet care landscape.
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