Full Year 2024 Jeronimo Martins SGPS SA Earnings Call Transcript
Key Points
- Jeronimo Martins SGPS SA (JRONF) achieved a 9.3% sales growth in 2024, driven by volume increases and store expansion.
- The company opened 385 new stores and remodeled around 350, contributing significantly to growth.
- HeBe, the health and beauty business, posted a 24.3% sales growth, with online sales representing 20% of total sales.
- Pingo Doce surpassed the EUR5 billion sales milestone, driven by its differentiated food concept and promotional campaigns.
- Ara improved its EBITDA margin by 150 basis points, returning to positive EBITDA on a pre-IFRS 16 basis.
- The company faced a challenging year with basket deflation and significant cost inflation, particularly in labor costs.
- EBITDA margin was pressured, falling to 6.7% from 7.1% due to operational deleverage and cost inflation.
- Net earnings per share, excluding nonrecurring items, fell by 14.5% due to the impact of basket deflation and cost pressures.
- Cash flow for the year before dividend payment was negative EUR62 million, impacted by slower sales growth and working capital dynamics.
- The competitive environment remains intense, particularly in Poland, with increased promotions and cautious consumer behavior.
Good day, and welcome to the Jerónimo Martins full year 2024 results conference call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Ms. Ana Luisa Abreu Virginia, Chief Financial Officer of Jerónimo Martins Group. Please go ahead, madam.
-
Good morning, ladies and gentlemen, and thank you for joining this call. Before I take you through the Jerónimo Martins 2024 full year results, I will give the floor to our Chairman and CEO, Mr. Pedro Soares dos Santos. Mr. Pedro Soares, the floor is yours.
Thank you, Ana. Good morning, ladies and gentlemen. One year ago, on the occasion of the 2023 results disclosed, I told you we expected nothing to be easy for us in 2024. Why? Because we were seeing since the end of 2023, a very
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
