Q3 2025 Jeronimo Martins SGPS SA Earnings Call Transcript
Key Points
- Jeronimo Martins SGPS SA (JRONY) achieved a 7.1% growth in group sales, reaching EUR26.5 billion, with a 6.6% increase at constant exchange rates.
- EBITDA increased by 10.9% to EUR1.8 billion, demonstrating effective cost management and productivity measures.
- The company maintained a strong balance sheet with a net cash position of EUR467 million, excluding capitalized leases.
- An ambitious CapEx program was executed as planned, with EUR816 million invested, resulting in the opening of 274 new stores and renovation of 170 locations.
- The company gained market share in Poland, with Biedronka contributing significantly to sales growth and maintaining price leadership.
- The ongoing global geopolitical uncertainty continues to shape consumer sentiments, leading to cautious, value-driven shopping behaviors.
- The Polish market remains highly competitive, with low basket inflation and high cost inflation, pressuring margins.
- Hebe faced a challenging market context with muted consumer demand, impacting like-for-like growth.
- Despite solid sales growth, the company is operating in a context of intense competitiveness in food retail, particularly in Poland.
- The tight labor markets and potential wage increases pose challenges to maintaining cost efficiency.
Good day, and welcome to the Jeronimo Martin's first nine months 2025 results conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Ms. Ana LuÃÂsa VirgÃÂnia, Chief Financial Officer of Jeronimo Martin's Group. Please go ahead, madam.
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Thank you, [Sharon]. Good morning, ladies and gentlemen, and thank you for joining this call dedicated to our first nine months as results. As usual, in our corporate website, you can find the results release, a slide presentation, and a fact sheet for the period.
The first nine months of 2025 continue to be defined by the ongoing global geopolitical uncertainty that is also shaping consumer sentiments, and fostering a more cautious, value-driven approach among shoppers. Against this challenging context, price remained at the heart of our strategy across all banners.
Every team worked hard to uphold our promise of price leadership, and to curate an
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