Jerónimo Martins closed the first nine months of the year with a profit of 484 million euros, which represents an increase of 10% compared to the same period in 2024, the company announced this Wednesday. Consolidated sales increased by 7.1%, to 26.53 billion euros, (+6.6% at constant exchange rates) and all brands contributed positively to this performance, says the company.
EBITDA (earnings before interest, taxes, depreciation and amortization) grew 10.9%, to 1.81 billion euros, and the EBITDA margin rose from 6.6% to 6.8%, indicates the group in the statement presenting the third quarter results, sent to the CMVM – Securities Market Commission.
The group highlights that “the reinforced focus on cost discipline, efficiency and productivity, combined with sales growth, contributed to protecting margins in the face of cost inflation – particularly in wages – and intense competitive pressure”, says the management of the group led by Pedro Soares Santos about a period in which investments totaled 816 million euros, 26% more than in the same period last year.
The cash flow generated by Jerónimo Martins was 128 million euros, reversing the negative result of 387 million recorded a year earlier.
Pingo Doce grows 5.4%
In Portugal, Pingo Doce sales grew 5.4%, to 3.9 billion euros, 4.1% more on a comparable basis, while Recheio saw sales grow 2.6%, to 1.05 billion. The combined EBITDA of distribution in the country rose 6.8%, to 287 million euros and, says the statement, “despite the 6.1% increase in the minimum wage, the orientation towards promotions continues to be a standard of behavior in terms of food consumption”.
In Poland, where “the update of the minimum wage by 9.2% contributed to the increase in families’ disposable income”, Biedronka’s sales increased by 7.4% in euros (5.8% in local currency), to 18.8 billion euros, with EBITDA growing 10% to 1.48 billion and, at Hebe, a chain of health and beauty stores, turnover grew by 6.9%, to 451 million euros.
In Colombia, ARA recorded an increase of 16.9% in sales in local currency or 6% in euros, to 2.33 billion, with EBITDA rising 42%, to 93 million euros.
Geopolitical uncertainty “has affected confidence”
As for Slovakia, Jerónimo Martins only states that the start of the operation resulted in eight store openings and a distribution center this year, with plans to close in 2026 with at least 50 stores.
Commenting on the results, Pedro Soares dos Santos highlights the “continued global geopolitical uncertainty has affected consumer confidence and behavior, increasing their orientation towards savings opportunities”.
“Aware that keeping our market positions strong has a short-term and long-term dimension, we continue to invest in innovation and the quality of the assortment, and in improving store parks and the shopping experience”, states the group’s president, highlighting the opening of 274 stores under different brands since January, along with 170 store remodels.
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