Jeronimo Martins, Sgps ( (JRONY) ) has released its Q3 earnings. Here is a breakdown of the information Jeronimo Martins, Sgps presented to its investors.
Jerónimo Martins, SGPS, S.A. is a multinational food distribution and retail company primarily operating in the food retail sector with a strong presence in Poland, Portugal, and Colombia. The company is known for its competitive pricing and extensive market reach through its various banners, including Biedronka, Hebe, and Pingo Doce.
In the first nine months of 2024, Jerónimo Martins reported a 10.3% increase in sales to €24.8 billion, despite challenging market conditions such as deflation and cost inflation. The company’s EBITDA rose by 2.7% to €1.6 billion, although the EBITDA margin decreased slightly compared to the previous year. Net profit stood at €440 million, reflecting the pressures from deflation and increased operational costs.
The company’s key performance drivers included maintaining price competitiveness and market share gains, particularly in Poland and Portugal. Biedronka, the leading banner in Poland, sustained its market position with robust volume growth despite deflationary challenges. In Portugal, Pingo Doce’s new store concepts and promotional strategies supported sales growth. Meanwhile, in Colombia, Ara focused on maintaining consumer relevance amidst high inflation by enhancing its promotional efforts.
Looking ahead, Jerónimo Martins remains committed to strengthening its market positions through strategic investments in store expansions and refurbishments across its operating regions. The company plans to maintain its focus on operational efficiency and cost discipline to navigate the challenges of deflation and cost pressures, while continuing to pursue its long-term growth objectives.
