Jerónimo Martins SGPS S A : First Nine Months 2022 Results Presentation
October 27, 2022 at 05:04 am
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9M RESULTS
9M 2022 RESULTS RELEASE HERE
ADDITIONAL NON-FINANCIAL INFORMATION RELATING TO THE PERIOD (MEDIA PRESENTATION) HERE
9M RESULTS
INTRODUCTORY
NOTE
This presentation includes in the Appendix, for comparison purposes, the Financial Statements excluding the effect of the IFRS16
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9M RESULTS
CONTENT
9M 2022 SNAPSHOT
9M 2022 THE CONTEXT
9M 2022 KEY FIGURES
9M 2022 SALES PERFORMANCE
Group
Biedronka
Hebe
Pingo Doce
Recheio
Ara
9M 2022 EBITDA PERFORMANCE
EBITDA
EBITDA Margin
9M 2022 FINAL REMARKS
APPENDIX
Financial Statements
Outlook 2022
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9M RESULTS
1. 9M 2022 SNAPSHOT
€1.3 bn
7.3%
EBITDA
EBITDA Mg
(+17.8%)
(-20 bps )
+19.0%
+172
LFL
New Stores
€275 mn
€1.7 bn
CASH FLOW
NET DEBT
SALES BY BUSINESS
GROUP
AREAS
KPIs
With inflation pressuring households, all banners kept price competitiveness at the core of their strategies, driving solid sales growth that protected profitability
Focus on volume growth drove Group EBITDA to increase by 17.8% with the respective margin at 7.3% vs 7.5% in 9M 21
Pressure on EBITDA margin grew from May
driven by cost inflation , particularly in
electricity and transportation
Strong balance sheet with net cash position
(excluding capitalized operating lease
liabilities) amounting to 763 million euros at
the end of the period
BUSINESS
HIGHLIGHTS
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9M RESULTS
2. 9M 2022 THE CONTEXT
Persisting generalised price increases. Energy prices accelerating
Poland: Food retail sales remained resilient despite a more price-sensitive consumer behaviour. Consumer demand supported by the Government's anti-inflation measures and Ukrainian refugees staying in the country
Portugal: Food retail sales performance marked by reduced volumes and trading down. Recovery in tourism drove HoReCa improvement
Colombia: Fragile consumer demand. Food retail sales impacted by declining volumes and trading down
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Jeronimo Martins SGPS SA published this content on 27 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2022 09:03:09 UTC.
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. 
