"We found a value of a little more than 1.3 million euros, of payment of tax on excessive profit, but we do not recognise this concept of excessive profit and we will, naturally, contest the payment", the financial administrator, João Dolores, stated during the 2023 results presentation session.

Sonae's profits grew last year to 357 million euros, an increase of 6.4% compared to the previous year.

The tax on extraordinary profits (known as windfall tax) began to be charged in 2022 and ended at the end of 2023, consisting of a 33% rate charged to energy and food distribution companies that have registered a 20% increase compared to the average of taxable profits recorded in the previous four years.