Consolidated sales rose by 7.1% to 26.53 billion euros, or 6.6% considering constant exchange rates, with all brands contributing positively, announced the owner of Pingo Doce in a statement to the Portuguese Securities Market Commission (CMVM) today.
The earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 10.9% to 1.81 billion euros, with the corresponding margin rising from 6.6% to 6.8%.
The group emphasizes that “the strengthened focus on cost discipline, efficiency, and productivity, combined with sales growth, helped protect margins against cost inflation—particularly in wages—and intense competitive pressure.”
Jerónimo Martins generated a cash flow of 128 million euros, reversing the negative result of 387 million recorded a year earlier.
The group invested 816 million euros by September, up 26% from the 648 million over the first nine months of 2024.
In Portugal, Pingo Doce sales grew by 5.4% to 3.9 billion euros, with a like-for-like (LFL) sales increase of 4.1% (excluding fuel).
Recheio increased its sales by 2.6% to 1.05 billion euros, and the combined EBITDA of the distribution segment in Portugal rose by 6.8% to 287 million euros.
In Poland, Biedronka—the group’s main brand—boosted its sales by 7.4% in euros (+5.8% in local currency), reaching 18.8 billion euros, with EBITDA growing 10% to 1.48 billion euros, and the margin improving to 7.9%.
The Hebe, a health and beauty store chain in Poland, recorded a 6.9% increase in sales and 7.2% in EBITDA, with the margin reaching 8.4%.
In Colombia, Ara stood out with a 9.6% increase in euro sales (+16.9% in local currency) to 2.33 billion euros, and an EBITDA jump of 42% to 93 million euros, with the margin rising from 3.1% to 4%.
According to the chairman and CEO of Jerónimo Martins, Pedro Soares dos Santos, “the ongoing global geopolitical uncertainty has affected consumer confidence and behavior, increasing their focus on savings opportunities.”
In this context, he asserts that the group’s brands “reinforced the commitment to price leadership, working with determination and remarkable results in terms of productivity and efficiency, protecting profitability.”
[Updated at 18:09]
