5

OUR IDENTITY
Mission
Values
Brand

13

OUR REACH
Our History
Corporate Strategy
Corporate Profile
Where we are
Key Figures

37

OUR COMMITMENT
Our People
Sustainability
Ethics
Innovation
Awards

The information published refers to the year 2014.

Our
OURIdentity
IDENTITY

MISSION

To create longterm economic

and social value, bringing the
benefits of progress and
innovation to an ever increasing
number of people.
6

Sonae Improving Life Our Identity

VALUES

Trust and Integrity

We are committed to creating economic value in the medium and long term,
built on relationships founded on integrity and trust.

People at the centre of our success

Setting constant challenges and being open to change are crucial in attracting
ambitious people. Our people are a determining factor in the markets where we
operate and, for that reason, we invest in developing their capabilities and skills,
and thereby further enrich our culture.

Ambition
Ambition is born from continuously establishing goals which will stretch us to
our limits, stimulating our energy and reinforcing our determination. Ambition
drives us and keeps us dissatisfied with the status quo, forcing us to go beyond
our past successes.

Sonae Improving Life Our Identity

Innovation

Frugality and Efficiency

Innovation is at the heart of our businesses. Innovation involves risks, but we

are aware of the importance of identifying and managing these risks, so as to
maintain them within reasonable limits. We know that only by innovating can we
grow sustainably.

We aim to optimise the use of resources and maximise their return, seeking cost
efficiency, and avoiding any waste or extravagance. As a priority, we focus on
achieving operating efficiency, promoting healthy competition, and delivering
high impact projects.

Social Responsibility

Cooperation and Independence

We have an active sense of social responsibility, and try to contribute to improving

the communities within which we operate. Our behaviour takes into account the
most recent environmental concerns and sustainable development policies.

We are willing and ready to cooperate with central and local governments, in
order to improve regulatory, legal and social frameworks, and to ensure the best
solutions for the communities within which we operate, but we also take care to
maintain our independence in relation to all such entities.

BRAND

Brand attributes
Creative

We are creative. We generate employment, wealth and development. We are

innovative, with offers that make what is essential accessible, with new ideas
that enrich lives. We like to solve problems, creating opportunities. We want a
world in which creativity is the path to progress.

Determined

Improving Life is our positioning statement. It combines

the development of our businesses with addressing the
various needs of different consumers. It refers to a brand
that is open, alert and socially connected. Its a greater
insight into our activities and a confirmation of our
vocation to be present in people daytoday lives.

We are determined. Our history has been built on motivation and

entrepreneurship. We are focused on our determination to continue to grow.
Every difficulty is a challenge, an incentive. We know what we want. We accept
risk as a precondition of leadership.

Dynamic

We are dynamic. We believe in variety and the potential of doing things

differently. It was this dynamism that led us to democratise consumption in
Portugal. And it is this dynamism that has driven us to discover new ways of
continuing to do so. All over the world.

10

Sonae Improving Life Our Identity

World Class

We are international. We bring expertise and quality to everything we do, in any

part of the world. We seek knowledge and opportunities in all parts of the world.
We are proud to have partnerships on all continents. The only frontiers we see
are those of sustainability.

Enthusiastic

We are enthusiastic. About people. About culture. About relationships. From

the smallest change to the most profound revolution. From the most radical
innovation to the simplest step of evolution. We believe in doing things with
passion. This is value with a long term vision.

Open

We are open to dialogue. We want our activities to reach more and more people.
We want to get to know other people better. We want to grow. We are transparent
in this ambition. We are independent and cooperative. Our success lies in our
ability to establish partnerships based on trusted relationships.

11

Our
OURIdentity
REACH

OUR
HISTORY

1959
Foundation of Sonae

60s
Start-up of the business

(Sociedade Nacional de Estratificados)

Production of decorative laminates (laminite).

90s
Development of strategic businesses and expansion
into telecommunications
Launch of Pblico: first nationwide daily newspaper;
Launch of the first batch of Continente ownbrand products;
Opening of CascaiShopping (first regional modern shopping centre in Portugal);
Opening of Centro Colombo, the biggest shopping in Iberia;
Start of the international expansion of Sonae Sierra: Spain, Greece and Brazil;
Start of the specialised retail project, with stand-alone brand names: MO,
formerly known as Modalfa (fashion), Sport Zone (sports), Worten (electronics);
Entry in Spain;
Launch of Optimus (telecom operator).

14

00s
International growth and reorganisation of the business portfolio
S
 onaecom listed on the Lisbon Stock Exchange (IPO);
Spin off of Sonae Indstria (wood based panels
producer) and Sonae Capital (real estate, tourism and
venture capital);
Sonae Sierra expands its activities entering new
markets like Germany, Italy and Romania. Creation
of the Sierra Fund and Sierra Portugal Fund;
MDS joint venture with Suzano enters in Brokers Link
international broker network and acquires a relevant
position in Cooper Gay;
Creation, in IT business, of BizDirect, WeDo Technologies,
Mainroad and Saphety, and acquisition of Cape
Technologies, in Ireland, by WeDo Technologies;
Sale of Sonae Distribuio Brazil to the WallMart
group and acquisition of Carrefour Portugal;

L
 aunch of Zippy, rea Sade (today Wells), Book.it
(today Note!) and Bom Bocado;
L
 aunch of Continente loyalty card , today with more
than 3 millions families holders;
International expansion of Sport Zone and Worten to
the Spanish market (acquisition of Boulanger Group);
C
 hanges in the management structure (Belmiro de
Azevedo becomes Chairman);
N
 ew organisation of retail business in 3 separate
units: Sonae MC (food), Sonae SR (nonfood)
and Sonae RP (Retail Real Estate);
S
 et up of new business area focused on
Investment Management.

Sonae Improving Life Our Reach

70s

80s

Business development and vertical integration

Diversification through acquisitions and set up of new businesses

D
 iversification of Sonae, through the acquisition of Novopan
(particle board manufacturing unit);
Additional investments aimed at surface coated particle board production.

Sonae products available in 50 countries on five continents;

Launch of Sonae on the capital markets and Initial Public Offerings (IPOs) for seven group companies;
Set up of MDS - insurance brokerage;
In 1985, the opening of the 1st hypermarket in Portugal: Continente (Matosinhos). This moment marked
the start up of the Sonae Distribuio business;
Sonae Tecnologias de Informao (Information Technologies) is created, investing in new
technologies and the media sectors;
Start-up of Sonae Imobiliria business and opening of the first shopping centres managed by Sonae.

10s
Global expansion
Launch of Sonaes new corporate identity;
Retail global expansion with special attention in Spain (surpassing the 100 stores);
Opening of Zippy stores in Europe, Middle East, Latin and Central America, Africa and Asia;
International expansion of Berg and Deeply brands;
Sonae Sierra enters in several countries through partnerships with local companies.
Also creates EMEA (Europe, the Middle East and Africa) Services Department expanding
its activity to Morocco and Croatia;
S
 onae Sierra property funds were acknowledged the most sustainable in Europe and the
third worldwide according to the Global Real Estate Sustainability Benchmark;
Creation of the convenience supermarkets through franchising (Meu Super);
Sonae launches initiative of venture capital (Sonae E.Ventures) to invest in e-commerce
companies;
Merger between Zon and Optimus gives rise to the NOS brand;
Launch of 1st ZU store, specialized in dogs and cats;
International expansion of several insignias from Sonae with entry into 5 new markets
(Armenia, Bulgaria, Chile, Georgia and Mozambique) and wholesale for 40 countries.

A history
of entrepreneurship
and innovation

15

CORPORATE
STRATEGY

16

Sonae Improving Life Our Reach

Who we are
and what we
stand for

Strategy

We are a trust-based organisation with deep rooted

values and beliefs which are embedded in our history
and have stood the test of time our values and beliefs
have remained consistent and have produced our unique
culture. We have lived by them and we have constantly
grown in scope and value whilst contributing to society
above and beyond the economic wealth we create.

Our mission and our values are built into our strategy
we always know where we are going and why. We will
significantly increase our geographic presence and employ
new business models to foster growth and value creation.
Based on our existing businesses and with our distinctive
competencies, assets and culture, we will pursue the
following three main strategic pillars:

Active and entrepreneurial investor

International expansion

We are an active investment group with ambitious targets for superior growth and
value creation. We continuously plan and optimise our strategy, looking for improved
opportunities in our current businesses and analysing new investment opportunities,
both in current and new sectors and geographies.

We are recognized for our world class competency. This enables us to explore new
growth opportunities. Sonae core businesses have become leaders in mature
markets, underlining its competency, knowledge and experience.

We are constantly searching for new business models and concepts, nurturing our
entrepreneurial spirit and assuming considerable risk in the implementation of new
ventures. We are rapid and efficient when entering and exiting businesses, whilst
always taking strategic decisions with a medium to longterm view.

International expansion, focused on our core businesses and our distinctive

products, competences and strategic assets will be our key growth drivers for many
years to come. This is one of our top strategic priorities and we will deploy resources
accordingly. We recognise the opportunity to enlarge our international footprint and
transform Sonae into a large multinational corporation.
Our strategy is to target opportunities in growth markets that have developing retail
markets and improving governance practices as well as in mature markets where we
have a clear edge over incumbent competitors.

17

Diversify investment style

Leverage and reinforce exceptional assets and competencies

We adopt the most appropriate investment style for each project. Our capitallight
models include partnerships, franchising and wholesale arrangements. This strategy
allows us to add local knowledge and at the same time reduce the employed capital
in the businesses.

We are committed to innovation, to generating new businesses and strengthening

our competitive position.

We will continue to leverage our resources and the efficiency of implementation

plans by adopting the most appropriate investment style or mix of styles for each
business.

We are determined to capitalize on our assets and competencies, launching new

projects in adjacent areas and continuing to grow our market share.
We will continue to explore new business opportunities that leverage on our
exceptional asset base and competencies as a way to nurture our portfolio of
options for future growth.
The new projects should have most of the following characteristics: (i) a clear path
to internationalisation; (ii) potentially attractive profitability levels; (iii) profiting from
global trends; (iv) benefit from or reinforce our competencies and/or strategic assets.

18

Sonae Improving Life Our Reach

Why this strategy?

Our quest for growth and superior value creation reinforces
our ambition to expand internationally.
We have the skills and technical knowhow to successfully explore opportunities not
only in growth markets, providing sound macroeconomic growth, developing industry
structures and improving governance practices; but also in mature markets, given our
distinctive products, competences and strategic assets.
Our base market is not sufficient to deliver all of our ambitious goals as: (i) Portugal
is a small market and a difficult territory to defend in a globalised competitive
environment; and (ii) our current core businesses in Portugal are reaching maturity
and, consequently, have limited growth opportunities.
We have an outstanding management team, expertise and reputation and can use
them to create value on a larger scale and in markets that are growing faster and
have greater potential.
We will create new and significant career development opportunities for our
managers, fostering their professional and personal development, and improving
their international profile. Our competence, knowledge and experience pool will
grow and become an even more solid base for the future development of the Group
through exposure to diverse cultures and situations.

To enlarge our international footprint at a faster pace, a more flexible investment

style will be crucial, as it will enable us to: (i) leverage our financial and human
resources, multiplying our ability to seize different and larger opportunities; (ii)
become a company with an enlarged external network; and (iii) improve our access to
relevant information, enabling a more proactive management of our legal, regulatory
and political environments and increasing our influence. This is critical for successful
expansion, improving our ability to understand the real obstacles of business
development and to identify new business opportunities.
Although our internationalisation strategy opens up an immense opportunity for
us to grow, we must not relinquish our asset base in Portugal. By leveraging these
assets to develop new business opportunities, we are also nurturing our capacity and
ambition to grow in the future, while minimizing risk.
In summary, by focusing on internationalisation, diversifying our investment style
and leveraging our exceptional asset base in Portugal, we maximise our ability to
grow and create value.

19

CORPORATE
PROFILE
EFANOR
SONAE
CAPITAL
63%

SONAE
INDSTRIA
69%

SONAE*
53%

SONAE MC

SONAE SR

SONAE RP

Food Retail

Specialised Retail

Retail Properties

100%

100%

100%

Core Businesses

SONAE SIERRA

NOS

Investment Management Shopping Centres

SONAE IM

Telco

16%
to

89.9%

Related Businesses

50%

24.4%**

Core Partnerships

* Listed on the Euronext Stock Exchange. Information may also be accessed on Reuters
under the symbol SONP.IN and on Bloomberg under the symbol SON.PL.
** Through Sonaecom.

20

Efanor is the main shareholder of these companies, with more than 50% of equity.

Sonae
is a house
*
of brands

Sonae Improving Life Our Reach

* These are some examples of our brands.

21

WHERE
WE ARE
North America

> 60 countries
in all five continents*

South America

* Dec 2014 (This includes operations, third party services, representative offices, franchising agreements and partnerships).

22

Sonae Improving Life Our Reach

Europe

Asia

Africa

Oceania

23

KEY
FIGURES

Sonae is one
of the biggest
employers
in Portugal

24

EMPLOYEES

STORES

~40,000

1,304

DIRECT INCOME

NET INCOME

CAPEX

144 M

356 M

TURNOVER

EBITDA

NET DEBT
EVOLUTION

4,974 M

417 M

127 M

(attributable to shareholders)

(between 31 Dec 2011 and 31 Dec 2014)

-712 M

Sonae Improving Life Our Reach

Shareholders structure

52.64%
9.4%
4.99%

Efanor

BPI

3.65 cent
+5% vs. 2013
+10.3% vs. 2012

Bestinver

2.5%

Fundao Berardo

2.3%

Norges Bank

27.8%

DIVIDEND PER SHARE

Others

DIVIDEND YIELD

2012

2013

2014

4.8%

3.3%

3.6%

2012 ye*

2013 ye*

2014 ye*

0.687

1.049

1.024

PRICE PER SHARE

* year end

25

Sonae MC is Sonaes business area responsible for food

retail, being Portugals leader.

Sonae MC is responsible for the food retail area of Sonae and is today a benchmark
in the market, after having launched a true revolution in consumer habits and the
Portuguese commercial landscape with the opening of the first hypermarket in
Portugal in 1985 (the Continente Matosinhos).
Sonae MC is food retail market leader in Portugal with a number of distinctive formats,
which offers the varied range of high quality products at the best prices: Bom Bocado
(coffee shops), Continente (hypermarkets), Continente Bom Dia (convenience
supermarkets), Continente Modelo (hypermarket close at hand), Meu Super (proximity
stores in a franchising format), Note! (bookshops, stationery and gifts), Pet&Plants
(garden and domestic pets), Wells (health, well being and eye care) and ZU (dogs and
cats products and services).
Sonae MC will continue to focus on leadership and profitability, by consolidating
market leadership in Portugal; exploring new adjacent business opportunities;
managing the business as a cash flow generator whilst searching for
international opportunities.

26

Coffee shops

Hypermarkets

Convenience supermarkets

Hypermarket close at hand

Proximity stores
in a franchising format

Bookshops, stationer and gifts

Garden and domestic pets

Health, well being

and eye care

Dogs and cats products

and services

Sonae Improving Life Our Reach

#1 food retailer
in Portugal

SALES AREA

STORES

639,000 sqm

TURNOVER

UNDERLYING
EBITDA

640

3,461 M

241 M

(162 franchises)

Markets with stores:

Portugal.
We are developing wholesale, allowing consumers in other markets to enjoy the quality of our
products and innovations.

27

Sonae SR is Sonaes business area responsible for

specialised retail in sports, fashion and electronics.
Sonae SR has a range of brands in benchmark positions in their respective market
segments. The offer is wide ranging: MO (clothing, footwear and accessories),
Sport Zone (sports clothing and equipment), Worten (electrical appliances,
consumer electronics and entertainment), Worten Mobile (mobile telecommunications)
and Zippy (clothing, footwear and accessories for babies and children and
childcare products).
The companies were built on a strategy of value generation, based on a
combination of sustained growth and strong investment in the value proposal
of each of their brands. Underpinned by the motivation and quality of their
employees and by the sustained partnerships with suppliers.
Sonae SR will maintain its focus on growth and internationalisation, exploring
and preparing the entrance into new geographies, by developing franchising and/
or jointventure opportunities, consolidating market leadership in Portugal and
improving profitability.

28

Clothing, footwear
and accessories

Mobile
telecommunications

Sports clothing
and equipment

Electrical appliances, consumer

electronics and entertainment

Clothing, footwear and accessories for babies

and children and childcare products

Sonae Improving Life Our Reach

SALES AREA

SALES AREA

STORES

398,000 sqm

TURNOVER

595

UNDERLYING
EBITDA

1,290 M

15 M

(73 franchises)

Markets with brands stores:

Azerbaijan, Dominican Republic, Egypt, EUA, Jordan, Kazakhstan, Lebanon, Malta, Morocco,
Portugal, Qatar, Saud Arabia, Spain, St. Maarten, Turkey and Venezuela.

29

NET INVESTED CAPITAL

1,213 M

Sonae RP is Sonaes business area that aims to create value

in managing and exploring its real estate assets through a
proactive and efficient attitude, creating specific expertise
and privileged relations in the real estate sector in Portugal.

Freehold levels

30

73%

28%

Sonae MC

Sonae SR

Sonae Improving Life Our Reach

Sonae RP Net Book value (YE14): 1,213 M

Assets %

Others

6%
Logistics
and offices

Sonae SR
stores

EMPLOYEES

11%

31

13%

70%

TURNOVER

UNDERLYING
EBITDA

126 M

116 M

Sonae MC
Stores

Markets:
Portugal and Spain.
31

Software and Systems Information

Cyber Security Services

Sonae IM is Sonaes business area responsible for Software

and Systems Information, Retail Technology and Partnerships
businesses. This business unit will implement an active
investment approach in order to build a portfolio of class
reference companies in Retail and Telco Technologies.

In 2013, Sonae E. Ventures was launched as a venture capital initiative

to invest in e-commerce companies at an initial development stage.

32

Retail Technology

Sonae Improving Life Our Reach

Insurance Brokerage

Travel Agencies

DIY and Construction Materials

Media

TURNOVER*

UNDERLYING
EBITDA*

252 M

19 M

Markets:
Angola, Argentina, Australia, Bahamas, Belgium, Brazil, Canada, Cayman Islands, Chile, China,
Colombia, Czech Republic, Denmark, Dominican Republic, Ecuador, Egypt, Filipinas, Finland,
France, Germany, Greece, Holland, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan,
Kazakhstan, Malaysia, Mxico, Morocco, Nicaragua, Panama, Peru, Poland, Porto Rico, Portugal,
Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Suisse, Taiwan, Thailand,
Trinidad & Tobago, Turkey, United Kingdom, USA, Venezuela and Vietnam.
* Turnover and UNDERLYING EBITDA does not include GeoStar, since Sonae apllies the equity method.

33

PRESENT

14 countries

Sonae Sierra is a Sonae business area and an international

shopping centre specialist, passionate about creating unique
shopping experiences.
Our integrated approach to shopping centre business includes the ownership,
development and management activities.
This strategy allowed us to develop a recognized unique knowhow which we use for
our shopping centres, as well as third party projects and operating shopping centres.

34

GROSS LETTABLE AREA

UNDER
MANAGEMENT

OWNER OF

2.3 million sqm

92 Shopping
Centres

46 Shopping
Centres

Sonae Improving Life Our Reach

SHAREHOLDERS

50% Sonae
Grosvenor

EMPLOYEES

1,123

VISITS

TENANT CONTRACTS
About

8,300

>

440 million

TURNOVER

EBITDA

225 M

108 M

Markets:
Algeria, Azerbaijan, Brazil, Colombia, Germany, Greece, Italy, Morocco, Portugal, Romania, Spain
and Turkey.

35

CONVERGENT RGUS*

MOBILE CUSTOMERS

More than
1.9 M

More than
3.6 M

*Revenue Generation Unit

COMMUNICATIONS
Through Sonaecom, Sonae holds a participation of 24.4%
at NOS share capital.
NOS is the biggest communications and entertainment
group in Portugal. It offers latest generation fixed and
mobile phone, television, Internet, voice and data solutions
for all market segments. It is leader in Pay TV, new
generation broadband services and in cinema exhibition
and distribution in Portugal. In the business segment,

36

it has positioned itself as a sustainable alternative in

the Corporate and Mass Business segments, offering a
broad portfolio of products and services with tailor made
solutions for every sector and businesses of different sizes,
complementing its offer with ICT and Cloud services.
NOS is at the forefront of innovation offering true value to
its customers. With IRIS NOS has introduced an innovative
way to watch TV with a more natural, customized and
intuitive customer experience.

TURNOVER

EBITDA

NET INCOME

1,384 M

511 M

75 M

Sonae Improving Life Our Reach

PAY-TV CUSTOMERS

1.5 million

FIXED VOICE
CUSTOMERS

1.5 million

FIXED BROADBAND
INTERNET CUSTOMERS

1 million

37

Our
OURIdentity
COMMITMENT

OUR
PEOPLE

Our people
are our most
important
asset.
40

We invest in their
development, working to
strengthen their individual
and collective values.
Our services and products
improve the lives of our
ever increasing number
of people.

Sonae Improving Life Our Commitment

Our
values

At Sonae we think that it is vital to preserve and develop

the ethical and cultural legacy which has brought us to
where we are. Our culture and union are what makes us
stronger and more distinctive today and that will maximize
our potential for the future.

So we have a precious
group of principles and
values, which we call
Our Way, that translate
into what we believe and
stand for.

How
we work

Our
teams

Our
managers

OUR VALUES
We are committed to creating economic value in the medium and long term,
built on relationships founded on integrity and trust.

HOW WE WORK
We work with excellence, honesty and clarity, merit, boldness, common sense,
curiosity, creativity and with a focus on our customers.

OUR TEAMS
We encourage team work.

OUR MANAGERS
We stimulate our managers to be leaders all over the world by adopting
business practices that support the local culture.

41

SUSTAINABILITY

Creating a long term company

Sustainability is our DNA and we implement the best practices for businesses,
customers, the community in which we operate, all our teams and shareholders.
Our business promotes the social and cultural well-being in communities in which
we operate.

Community Support key areas:

42

Environmental
Awarness

Culture

Education

Health
and Sports

Science
and Innovation

Social
Solidarity

Sonae Improving Life Our Commitment

Since 1995 we promote the eco

efficiency of our activities and
implement structural projects in
this field

95

Signature of the UN
Global Compact

99

Integration of WBCSD World

Business Council for Sustainable
Development, being the first
Portuguese to entry in the
organisation

Subscription of
the UN Global Compact

01
Creation of BSCD Portugal
(Business Council for Sustainable
Development) with Sonae as
founding member

08

Report of sustainability activities

in a detail report since 2007

12
Creation of the Sonae
Sustainability Award
Supporter of European
Retail Agreement on Waste

09
Adoption of the Fishing
Sustainability Policy

13
Sonae is invited to join the
European Commissions
Forum for Relations between
Production and Distribution
Sonae endorses European
Code of Conduct for the
Food Supply Chain

05
Signature of World Safety Declaration
Creation of a Sustainability Forum

Subscription of World
Economic Forums Global
Business Oath

Signature of the UN Universal

Declaration to Human Rights

07

04

10

11
Member of Retail Forum
for Sustainability

14
Sonae is invited to join the
High Level Group on the
Competitiveness of the
European Retail Sector,
a new advisory group for the
European Comission
Release of the new Code of
Ethics and Conduct and also
the Suppliers Code of Ethics
and Conduct

43

Sustainability
in numbers
Sonae is much more than
numbers. But numbers
are an important reflection
of our success, our scope,
our commitment.

44

We create value
and we distribute it.

ECONOMIC VALUE
GENERATED

ECONOMIC VALUE
DISTRIBUTED

ECONOMIC VALUE
RETAINED

5,501 M

5,304 M

197 M

Sonae Improving Life Our Commitment

Evolution of Electricity consumption in retail businesses (GJ)

2012

2013

2014

1,541,095

1,495,242

1,530,583

DISCOUNTS
TO FAMILIES

399 M
in loyalty cards
and sales receipts

Community Support

Water Consumption (m3)

9.8 M
Employees Training

1.3 M

2012

2013

2014

659,481

650,744

620,215

Institutions Supported

2,105
Volunteering

6,481 hours
Sonae avoids
emission of

Recovered
Waste

Water
Consumption*

3,411

80% (retail)

-5%

tons of CO2e (retail)

Like for Like (retail)

45

Engage with the future

We work every day to reinforce the sustainability of our
activities. For us, its always possible to go even further in
creating a better future for all.

Producers Club
Sonae has sponsored the Continente Producers Club since 1998 with the mission
to promote products with high quality and safety standards, supporting its members
in a consistent and structured way. Producers receive guaranteed demand levels
and, in turn, Sonae is secure that can offer to its costumers products of proven
Portuguese origin and quality.

International Certification Sonaes Own Brand Products

Sonae Maia Business Center

Sonaes food retail area has won an international certification for its own brand
management system. The award, given by the SGS ICS International Certification
Services in accordance with the ISO 9001:2008 standard, highlights the quality of
the development of Sonaes own brands of food, hygiene and drug products, as well
as the follow up of the products with suppliers after their development and launch.

The office building Sonae Maia Business Center has a LEED Certification
(Leadership in Energy & Environmental Design) from the United States Green
Building Council (USGBC). In 2010 it became the first building in Portugal to merit
this distinction and with the LEED Gold level certification, the highest level
attributed to any building on the entire Iberian Peninsula.

46

Sonae Improving Life Our Commitment

Misso Sorriso
The project Misso Sorriso was founded in 2003 and works with doctors and
health professionals towards greater humanization of services and to provide better
technical service, through donation of equipment. Meanwhile, Misso Sorriso
has developed two more activity pillars: active aging and fight against hunger, also
supporting social solidarity institutions.

Sustainable Fish Policy

Sonae Activshare

Sonae was the first retail company in Portugal to adopt a Sustainable Fish Policy,
in 2009. According to Greenpeace, Continente presents the best fishing policy
amongst Portuguese operators. The Sustainable Fish Policy guidelines promote
the noncommercialization of endangered species.

Sonae Activshare has the main goal to strengthen Sonaes values, particularly with
regard to social responsibility. This programme sets out to streamline Sonaes social
responsibility actions as well as volunteering initiatives organised by the Corporate
Centre for all employees.

International Certification for Sonaes Environmental Management

Sonae has won a certification of its environmental management system in
accordance with the international standard ISO 14001. The award, given by
Lloyds Register Quality Assurance, highlights the work done by Sonae in the
areas of corporate management of environmental policies and environmental
strategic plans, environmental information and the environmental performance
of its retail businesses.

Health and Safety at Work

Sonae was one of the winners of the European Good Practice Awards, granted by the
European Agency for Health and Safety at Work which recognises best practices in
terms of health and safety in organisations.

47

ETHICS

Committed to best practices

We are committed to creating economic

value in the medium and long term, built
on relationships founded on integrity
and trust.
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Sonae Improving Life Our Commitment

One of the most ethical companies in the world

Global Business Oath

We are recognised by the Ethisphere Institute as one of the Most Ethical Companies
in the World since 2011. Sonae continues to be distinguished worldwide for its
implementation of transparent business practices and initiatives that benefit the
community, raising the bar for ethical standards among all of its stakeholders.

Our management teams subscribes the Global Business Oath since 2010, a
number of guiding principles of best practices in business promoted by the Young
Global Leaders of the World Economic Forum, upholding ethical business values and
behaviour. Negotiating in an ethical manner, respecting peoples dignity, zero tolerance
of bribes, protecting the environment and future generations or investing in the
training of human resources are some of the principles enshrined in the commitment.

Ethical conduct and professionalism in negotiation practices

Sonae is guided in all its businesses by the principle of honesty, believing in
the advantages of developing relationships of mutual understanding with all its
suppliers. In line with this principle, we favour a proactive approach to seeking
solutions that are mutually beneficial to all involved, in particular in terms of
integration of the logistics architecture, the development of new products and
promotional concepts, as well as the sharing of information.

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INNOVATION

Innovation in retail businesses

83.2

Sonaes Retail Companies Investment

million Euros

Constant innovation

693
innovation projects

Of significant value that applied

to internal awards

We are open to the world and constantly looking for new ways to please and
surprise our customers. We incorporate innovation as part of our strategy, acting in
accordance with three principles:
At Sonae everybody innovates as part of daily activities;
Open innovation is key to promote knowledge and experience sharing;
Thinking innovation is a mission across all the company.
To encourage and support Sonaes innovation culture, we have created the Sonaes
Innovation Forum (FINOV), that contributes to maintain high levels of value creation.

719 Points
EXCELLENCE
COTEC*
innovation scoring

Placed in the top tier of excellence

*COTEC Portugal is a non profit business
association for innovation

FINOVs mission is to foster information sharing between Sonae companies,

exploiting synergies and enhancing innovation.

3,682
employees

50

Focused on innovation

Sonae Improving Life Our Commitment

Creating sustainable value through innovation

We were the first company in the world to
Create a social network to recruit young talent - Contacto Network
Introduce a code for colourblind people in clothing
Launch the mobile broadband product category

Sonae was the first company in Portugal to implement Kaizen in retail*

Hypermarket of the Future

Mobile Portal

The project adds economic and emotional value to the shopping experience, in a
store that is also seen as a social and cultural hub. In this sense, the surrounding
environment is organised in a comfortable and attractive way encouraging
engagement. The store is designed to provide a Hyper experience intertwined
with convenience.

The Mobile Portal is a sophisticated platform that allows retailers to implement

multiple applications on a mobile device, supporting a broad range of business
processes and information, relevant to store management. This solution was
developed by Tlantic, a Sonaes IT retail company.

Zippy Pop Up Shop: A New Low-Cost Store Concept

A new concept of Zippy store, temporary and flexible, which allows the store to
adapt to the venue and time of year, occupying spaces in shopping centers where
the brand was not physically present.

Continente Loyalty Card

The Continente Loyalty Card entitles its holders to access, accumulate and use a
range of price discounts facilitated by innovative promotions and at no additional
cost. More than 3 million families are involved and the expanding programme is
beyond food retail and other Sonae activities through partnerships.

* Sonae is even mentioned as a case study in the book Gemba Kaizen a commonsense approach to a continuous
improvement strategy, Masaaki Imai, second edition, 2012, MC Graw Hill, chapter Sonae MC The Silent revolution.

51

AWARDS

We are focused beyond the future, innovating and

implementing the best practices in order to create value
to all of our stakeholders. Our work and achievements, and
also the way we develop our activities and do business,
are recognized all over the world.

Ethisphere Institute distinguished Sonae as One of the Worlds Most Ethical

Companies, for the fourth consecutive year.
Carbon Disclosure Project distinguishes Sonae for the second consecutive year
among the 125 listed companies in the Iberian Peninsula, in the Performance and
Leadership indexes, highlighting the environmental performance and quality of the
information reported, respectively. We are the only Portuguese company present in
both indexes and we obtained the highest rating (A level) in the Performance index.
Hay Group elects Sonae as The Best Company for Leadership in Portugal, for the
3rd consecutive year.
The Running To Excellence (RTE) project of the Human Resources Department was
awarded by the Kaizen Institute with 1st prize in the category of Large Companies
- Services.

52

Sonae Improving Life Our Commitment

Continente as a Trusted Brand in Environmental Performance, for 5th

consecutive year.

S onae Sierra was distinguished in the Euromoney Real Estate Awards as the Best

The 2013 Masters da Distribuio conferred Continente with the Master

da Distribuio award in the Food Retail category.

Sonae Sierra was distinguished with the Gold Award by the ICSC Solal Marketing
Awards in the Digital Integrated Campaigns category.

For the 10th consecutive year, Continente was nominated by its clients as
a Superbrand.

For the third consecutive year, NOS received an international acknowledgement for
Best Customer Service by Winning The Contact Center World 2014 award.

Continente was awarded for the 13th consecutive year with the Brand of
Trust award.

NOS was considered the mobile operator preferred by Portuguese consumers by

Escolha do Consumidor.

Retail Developer Award for Portugal.

The 2013 Masters da Distribuio conferred Worten with the Master da

Distribuio award in the Social Responsability category.

53

Contacts

Communication, Brand and Corporate Responsibility Department

Sonae SGPS, S.A.
Lugar do Espido, Via Norte
4471-909 Maia
Portugal
Tel.: + 351 22 010 40 00
Consultants: BA&N
Design: SKA
Printing: Lidergraf
English Review: Newgate Communications
This publication is available on Sonaes institutional website:
www.sonae.pt

Weve worked hard to ensure that the information in this document is correct and fairly
stated. We cant, however, accept liability for any error or omission. Our products and
services are under continuous development, so the information published here was
updated at 31 December 2014. Its important that you check the current position in other
supports (www.sonae.pt).
Duplication or reproduction of any part of this brochure without approval is prohibited.