Colruyt Group (COLR) H1 2025 earnings summary

Executive summary

• Revenue decreased by 0.5% to EUR 5.43 billion in H1 2024/25, mainly due to reduced food inflation, unfavorable weather, and lower market share in Belgium.

• Operating profit (EBIT) fell 4.8% to EUR 245 million; net result from continuing operations was EUR 191 million, down 5.1% year-over-year, excluding one-off effects.

• Investments totaled EUR 237 million, focused on new stores, renovations, production/logistics capacity, automation, and digital transformation.

• Market share in Belgium declined to 31.2% from 31.6% year-over-year.

Financial highlights

• Gross profit margin improved to 29.8% from 29.5% year-over-year.

• EBITDA was EUR 444 million (8.2% of revenue), down from EUR 456 million (8.4%) year-over-year.

• Earnings per share (EPS) excluding one-off effects rose 2.7% to EUR 1.53.

• Net financial debt (including IFRS 16) was EUR 49 million; excluding IFRS 16, net cash position was EUR 302 million.

• Equity stood at EUR 3.14 billion, representing 47.7% of the balance sheet total.

Outlook and guidance

• Full-year 2024/25 operating profit and net result (excluding one-offs) expected to be stable or slightly lower than 2023/24.

• No material one-off effects anticipated for 2024/25.

• Ongoing focus on cost control, efficiency, digital transformation, and sustainability.

• Macroeconomic uncertainty and competitive Belgian retail market may impact outlook.