Sonae Industria SGPS SA reported unaudited consolidated earnings results for the second quarter and first half of 2012. For the quarter, the company reported turnover of EUR 350 million compared to EUR 356 million a year ago. EBITDA was EUR 22 million compared to EUR 34 million a year ago. Recurrent EBITDA was EUR 24 million compared to EUR 35 million a year ago. Net loss attributable to shareholders was EUR 14 million EUR 0.1452 per diluted share compared to EUR 24 million EUR 0.0445 per diluted share a year ago. Net debt was EUR 728 million compared to EUR 732 million a year ago. Operational profit was EUR 1 million compared to operational loss of EUR 10 million a year ago. Loss before taxes was EUR 13 million compared to EUR 23 million a year ago. For the six months, the company reported turnover of EUR 712 million compared to EUR 708 million a year ago. EBITDA was EUR 52 million compared to EUR 51 million a year ago. Recurrent EBITDA was EUR 55 million compared to EUR 53 million a year ago. Net loss attributable to shareholders was EUR 18 million EUR 0.0040 per diluted share compared to EUR 45 million EUR 0.2923 per diluted share a year ago. Net debt was EUR 696 million as on six months of 2012 compared to EUR 728 million as on six months of 2011. Operational profit was EUR 12 million compared to operating loss of EUR 17 million a year ago. Loss before taxes was EUR 15 million compared to EUR 42 million a year ago. Additions to fixed assets in first half of 2012 were EUR 16 million, of which EUR 10 million are mostly related to investments in maintenance, Health & Safety and Environmental improvements. Around EUR 6 million are related to the reconstruction of the UK plant, which were financed under the insurance program. The third quarter of 2012 activity is likely to be affected by the normal summer shut downs in the Northern Hemisphere and therefore the company expects to sell lower volumes in all countries where the company operate with the exception of South Africa.