Sonae Sierra’s financial and operational results in 2018 revealed a solid performance and the successful implementation of its strategy.
Likewise, 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 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.
RPA Perspective At the operating level, in 2018 Sonae Sierra achieved a solid performance, with a Net Profit of €110 million. Last year the company sold shopping centre assets with a gross value of nearly €600 million, generating significant earnings, increased the inter-annual EBIT for services by 11%, invested more than €165 million 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.
Sonae Sierra publishes its performance results in its Economic, Environmental and Social Report, which summarises the company’s strategy and operational performance in 2018 and demonstrates the alignment between the core business and the sustainability goals.
This report follows the International Integrated Reporting Council’s (IIRC) Framework on Integrated Reporting and it has been developed in accordance with the ‘Core’ Global Reporting Initiative (GRI) Sustainability Reporting Guidelines and the Construction and Real Estate Sector Disclosure (CRESD). The compliance with these GRI guidelines has been independently verified by Deloitte.
