Sonae Sierra’s financial and operational results in 2018 reveal its solid performance and the successful implementation of its strategy. Likewise, the company has demonstrated its capacity to creating shared value by addressing sustainability issues while getting good financial results.
Image: Sonae Sierra
Sonae Sierra has been committed to the environment and social aspects for more than 20 years, implementing energy, water, waste efficiency and wellbeing measures and integrating sustainability into its business strategy. In 2018, Sonae Sierra improved the eco-efficiency of its shopping centres in most key indicators, achieving 86% of its sustainability targets and actions in the course of the year. GHG emissions decreased by 9.1%, electricity consumption by 2.8% and the proportion of recycled waste increased by 3%.
The implementation of energy, water and waste efficiency measures over the last 16 years has entailed more than 25 million euros of operating costs avoided just in 2018.
Compared to other financial years, Sonae Sierra has improved water use efficiency of its portfolio by 21% since 2003, and electricity efficiency by 49% since 2002. The percentage of recycled waste has increased by 248% since 2002 and the percentage of waste sent to landfill has decreased by 69% since 2007. In addition, the company has reduced GHG emissions by 81% since 2005. In terms of Health & Safety, Sonae Sierra has reduced the severity of workplace accidents and occupational illnesses by 86% since 2005.
The company has obtained the ISO 14001 certification for environmental management for 26 construction projects that were finished and for 52 shopping centres in operation. It has also obtained OHSAS 18001 certifications for Health and Safety management of 10 construction projects and for 48 shopping centres in operation, as well as Green Building certifications for 8 new projects under development and shopping centres in operation. Moreover, Sonae Sierra’s energy efficiency programme “Bright Programme – Improving the carbon footprint of real estate” won the Silver Stevie Prize in the category “Energy Industry Innovation of the Year”at the 15th Edition of the annual International Business Awards.
At the operating level, in 2018 Sonae Sierra achieved a solid performance, with a Net Profit of 110 million euros. Last year the company sold shopping centre assets with a gross value of nearly 600 million euros, generating significant earnings, increased the inter-annual EBIT for services by 11%, invested more than 165 million euros in enlargements such as NorteShopping, the development of two outlets in Spain and in Greece, and in the construction of a new shopping centre in Colombia, which opened its doors in February 2019.
The report can be found HERE
