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Jerónimo Martins (JMT) investor relations material
Jerónimo Martins Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Sales rose 7.1% year-over-year to €26.5 billion, with EBITDA up 10.9% to €1.8 billion and net profit reaching €484 million, a 10% increase from the prior year.
Strong operational discipline, price leadership, and cost management drove growth across all banners despite cautious consumer demand and heightened competition.
Ambitious store expansion and network growth, especially in Poland and Colombia, supported top-line performance.
Capex execution reached €816 million, supporting 274 new stores and 170 remodels.
EPS rose 10% to €0.77.
Financial highlights
Group sales grew by 7.1% to €26.5 billion, with EBITDA up 10.9% to €1.8 billion and EBIT up 12.8% to €964 million.
EBITDA margin improved to 6.8% (+23 bps), and net profit attributable to shareholders was €484 million.
Net cash position (excluding IFRS16/capitalized leases) stood at €467 million at September end; net debt at €3.6 billion.
Cash flow before dividends was €128 million, up from -€387 million in the prior year.
Net financial costs increased to €243 million, mainly due to expansion and lease interest.
Outlook and guidance
2025 expected to remain volatile due to geopolitical and economic instability, with continued focus on price competitiveness, operational agility, and market share reinforcement.
Capex for 2025 projected slightly above €1 billion, prioritizing store expansion and logistics.
Biedronka plans 130–150 net new stores and c.200 renovations; Ara expects over 150 new stores and further logistics investment.
Hebe to open c.30 new stores in Poland, maintaining e-commerce as a growth pillar.
Pingo Doce to remodel c.50 stores and open c.10 new locations in Portugal.
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