Jeronimo Martins' 2023 sales hit record over 30 billion euros
January 11, 2024 at 12:55 pm EST
Share
LISBON (Reuters) - Portuguese retailer Jeronimo Martins on Thursday posted a 21% jump in full-year sales, driven by a robust increase at its market-leading Polish chain, Biedronka.
According to preliminary data, revenues rose to 30.6 billion euros ($33.49 billion). Revenues at the discount chain Biedronka rose 22% to 21.5 billion euros.
In a statement, Chief Executive Pedro Soares dos Santos said surpassing the 30 billion-euro total sales mark was an important milestone for the company, adding that "maintaining the sales' dynamic will remain a priority for all our companies" in 2024 in a particularly uncertain international context.
At home, sales at its Pingo Doce supermarkets rose 7.9% to 4.9 billion euros, while in Colombia, its expanding Ara chain booked 2.4 billion euros, up 37.7% from a year earlier.
Preliminary sales in the last quarter of 2023 rose 16.7% to 8.2 billion euros.
The company will post its consolidated results on March 6.
($1 = 0.9136 euros)
(Reporting by Patrícia Vicente Rua; Editing by Andrei Khalip)
Jerónimo Martins, SGPS, S.A. is a Group that holds assets in the food sector, mostly in distribution, with market leadership positions in Poland and Portugal. In 2023, the Group recorded sales of 30.6 billion euros and an EBITDA of 2.2 billion euros. The Group had a total of 134,379 employees and ended 2023 with a market capitalisation of 14.5 billion euros on the Euronext Lisbon stock exchange.
In Poland, Biedronka, representing 70% of Group sales and 85% of its EBITDA, is a chain of food stores and the undisputed leader in food retail and in 2023 it continued to increase its market share. Also in Poland, Hebe focuses on the specialised retail of health and beauty products, managing a considerable assortment of products at competitive prices and an in-store consultation service. At the end of 2023 Hebe opened two stores in Czechia, aimed at putting a face to the brand's presence in this country, where growth will be driven through e-commerce.
In Portugal, the Group has a leadership position in food distribution. It operates the banners Pingo Doce and Recheio, which are market leaders in the supermarket and cash & carry formats, respectively. Pingo Doce is a supermarket chain that has a restaurant area in most of its stores. It has two central kitchens that supply not only these restaurants, but also its in-store takeaway operation. Recheio operates a chain of cash & carry stores and has strengthened its business model with a specialised food service operation, underpinned by dedicated platforms, which essentially serve HoReCa customers with a delivery service. Recheio continues also to expand a network of traditional retail partners under the Amanhecer banner. Jerónimo Martins Agro-Alimentar currently operates in four distinct areas: dairy, livestock farming, aquaculture, and fruit and vegetables. The Group also operates two specialised chains, the Jeronymo coffee shops and kiosks and the Hussel chocolate and confectionery chain.
In Colombia, Ara is a chain of proximity food stores, mostly set up in residential neighbourhoods, offering quality at the best price and combining competitiveness with promotional opportunities in key categories for the Colombian consumer. Also in Colombia, Bodega del Canasto operates as a mini cash & carry, aiming for the traditional market (B2B), offering customised Private Brands and industry brands solution.
JERÓNIMO MARTINS, SGPS, S.A. 
