Jeronimo Martins SGPS SA

JMT

Equity

ISIN PTJMT0AE0001 / Valor 388808

Euronext Lisbon (2024-12-23)

EUR 18.08-0.39%

Jeronimo Martins SGPS SA
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About company

Jeronimo Martins SGPS SA is a Portugal-based international conglomerate with a significant footprint in the food distribution sector, boasting over 230 years of experience. The company primarily focuses on addressing the daily needs of millions of consumers across Portugal, Poland, and Colombia, with food distribution accounting for more than 98% of its consolidated sales. In Poland, Jeronimo Martins operates Biedronka, the country's leading food retailer, and has recently expanded into Slovakia. In its home market of Portugal, the company leads with Pingo Doce supermarkets and Recheio cash & carry stores. Additionally, it runs Ara neighborhood stores in Colombia. Beyond food retail, Jeronimo Martins has diversified into specialized retail with the Hebe beauty chain in Poland and the Czech Republic, and into agribusiness in Portugal and Morocco. As of the end of 2023, the company reported sales of €30.608 billion, employed over 134,000 people, and achieved a net profit of €756 million.

Summarized from source with an LLMView SourceSector: Consumer Services

Sales Growth

In the first nine months of 2024, Jeronimo Martins SGPS SA reported a sales growth of 10.3%, reaching €24.8 billion. This growth was 4.7% at constant exchange rates, indicating a robust performance despite challenging market conditions.

EBITDA Performance

The company's EBITDA increased by 2.7% to €1.6 billion during the same period. However, at constant exchange rates, there was a decrease of 2.9%, with the EBITDA margin dropping to 6.6% from 7.1% in the first nine months of 2023.

Net Profit

Jeronimo Martins SGPS SA achieved a net profit of €440 million in the first nine months of 2024. This result reflects the company's ability to maintain profitability amidst significant cost pressures and market competition.

Cash Flow and Debt

The cash flow for the first nine months of 2024 was negative at €-387 million, influenced by deflationary effects on growth. The company's net debt stood at €3.2 billion, but excluding IFRS16, it reported a net cash position of €413 million by the end of September.

Market Outlook

Looking ahead, Jeronimo Martins SGPS SA remains focused on sales growth and operational efficiency to protect profitability. Despite the challenges of deflation and cost increases, the company is committed to maintaining its competitive market position and expects to continue expanding its store network and logistics infrastructure.

Summarized from source with an LLMView Source

Key figures

-21.7%1Y

-10.7%3Y

20.5%5Y

Performance

32.4%1Y

27.6%3Y

27.1%5Y

Volatility