Sonae Indústria, S.G.P.S., S.A. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported turnover of EUR 62.3 million compared to EUR 63.1 million a year ago. Operating profit was EUR 7.9 million compared to EUR 9.1 million a year ago. Profit before taxes was EUR 9.6 million compared to EUR 5.4 million a year ago. Profit from continued operations was EUR 7.6 million compared to EUR 2.1 million a year ago. Consolidated net profit for the period was EUR 7.6 compared to loss of EUR 30.7 million a year ago. Consolidated net profit attributable to equity holders was EUR 7.6 million compared to loss of EUR 6.4 million a year ago. Recurrent EBITDA was EUR 11.0 million against EUR 11.5 million a year ago. On a quarterly basis, consolidated turnover decreased EUR 0.9 million compared to same period of last year driven by lower sales of the company’s Laminates & Components business that offset the higher Turnover in the company's North American business. On a quarterly basis, Recurrent EBITDA for the second quarter of 2017 decreased EUR 0.5 million compared to second quarter of 2016, driven by higher chemical costs per cubic meter and lower production volumes in North America, but an improvement of EUR 1.3 million against last quarter. Consolidated EBITDA for second quarter of 2017 stood at EUR 10.9 million, a deterioration of circa EUR 1.2 million compared to second quarter of 2016, mainly driven by a reduction in the contribution of the company’s North American business which however performed better than in the previous quarter and was the main driver for the EUR 1.2 million improvement in the consolidated EBITDA compared to first quarter of 2017. For the six months, the company reported turnover of EUR 121.8 million compared to EUR 120.6 million a year ago. Operating profit was EUR 14.4 million compared to EUR 13.6 million a year ago. Profit before taxes was EUR 17.6 million compared to EUR 7.0 million a year ago. Profit from continued operations was EUR 14.1 million compared to EUR 3.3 million a year ago. Consolidated net profit for the period was EUR 14.1 compared to loss of EUR 27.5 million a year ago. Consolidated net profit attributable to equity holders was EUR 14.1 million compared to loss of EUR 27.5 million a year ago. Recurrent EBITDA was EUR 20.8 million against EUR 18.8 million a year ago. Proportional turnover was EUR 331 million against EUR 332 million a year ago. Net debt stood at EUR 212.8 million, at the end of June 2017, which represents a decrease of EUR 7.2 million when compared to the end of first quarter of 2017, benefiting from the positive EBITDA and, in this quarter, also from the reduction in Working Capital. When compared to the end of 2016, net debt also decreased, in this case by EUR 0.7 million. Capex was EUR 3.6 million against EUR 3.9 million a year ago. Consolidated turnover for the first half of the year improved 1.0% compared to first half of 2017 benefiting from the appreciation of the Canadian dollar compared to the EUR. Consolidated EBITDA for the first semester of the year reached EUR 20.6 million, circa EUR 1.5 million higher than the first half of 2016, on a comparable basis, mostly explained by lower fixed costs that this year reflect one-off adjustments to personnel cost accruals.