9.3 per cent more sales for Jerónimo Martins

The Portuguese company Jerónimo Martins Group, which operates in the Polish market under the name Biedronka and Pingo Doce in its homemarket, released the results of its financial year 2024. Sales grew 9.3 per cent to 33.5 bn euros in 2024, according to the press release. EBITDA increased 2.9 per cent to 2.2 bn euros, with EBITDA margin at 6.7 per cent Net Earnings reached 599 mn euros.

Food distribution is the main activity and is worth more than 98 per cent of the Group’s consolidated sales, but pet food is also sold. Biedronka combines the proximity location of its stores to the quality of the assortment, to its private brands and to the most competitive prices in the Polish market. Approximately 72 per cent of the sales are generated in Poland, 19 per cent in Portugal, and 8.5 per cent in Colombia, explained CFO Ana Luísa Virgínia.

Biedronka sells its private labels Kitty and Activpet in more than 3 700 stores in Poland, Pingo Doce's label Activpet in its 480 supermarkets in Portugal, in the nearly 1 500 Ara neighborhood stores of Colombia the private brand for pet food is Bonamigo and in the 43 Portuguese Richeio cash and carry markets they sell different brands. Biedronka is, in addition to be the leading food retailer in Poland, also developing an operation in Slovakia.

“In 2024, everything we anticipated in the outlook of the 2023 FY results’ release materialized,” said chairman and CEO Pedro Soares dos Santos. “A combination of factors created a demanding economic environment for our banners: deflation in our baskets after two years of substantial price increases, high cost inflation, strong consumer price sensitivity, and more intense competition in the food retail market. Our banners, particularly Biedronka, focused on volumes and fiercely competed for sales, outperforming, once again, the markets in which they operate.”