Q1 2025 Jeronimo Martins SGPS SA Earnings Call Transcript
Key Points
- Sales grew by 3.8% to reach EUR8.4 billion, despite a negative calendar effect.
- EBITDA increased by 3.8% with a stable margin of 6.3%, showcasing effective cost management.
- Biedronka gained 0.3 percentage points of market share, reflecting strong competitive positioning.
- The group ended the quarter with a positive cash position of EUR332 million, indicating strong financial health.
- Expansion efforts continued with Biedronka opening 56 stores and Ara opening nine stores, contributing to top-line growth.
- Like-for-like sales were down by 2.2%, impacted by calendar effects and tough comparables.
- Cash flow for the period was an outflow of EUR398 million, reflecting business seasonality and the timing of Easter.
- The competitive environment in Poland remains intense, with significant pressure on margins.
- HeBe's EBITDA margin was pressured by significant deflation and increased competition in the health and beauty market.
- The company faces ongoing challenges from high labor costs and a volatile consumer environment.
Good day, and welcome to the Jeronimo Martins first quarter 2025 results conference call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Ms. Ana Luisa Virginia, Chief Financial Officer of Jeronimo Martins Group. Please go ahead, madam.
Thank you, Nadia. Good morning, ladies and gentlemen, and thank you for joining this call dedicated to our first quarter results.
In our corporate website, you can find the results release, a slide presentation and the fact sheet for the period. Our recently approved 2024 Annual Report is also available there, including our sustainability commitments for the 2024-2026 period.
And surprisingly, 2025 started with a volatile and extremely uncertain landscape further limiting visibility on consumers' behavior trends. Overall, the rise in minimum wages increased household disposable income in the countries where we operate. Notwithstanding
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