Colruyt Group (COLR) H2 2024 earnings summary

Executive summary

• Revenue increased by 11.9% to €10.8 billion, driven by food inflation, market share gains in Belgium, and full consolidation of Newpharma and Degrenne Distribution.

• Operating profit (EBIT) rose 67.2% to €470 million; net result from continuing operations (excluding one-offs) up 75.1% to €368 million.

• Major one-off effects included a €678 million capital gain from the sale of Parkwind by Virya Energy and the sale of DATS 24, Dreamland, and Dreambaby.

• Investments totaled €433 million, focused on store expansion, logistics, innovation, and energy efficiency.

Financial highlights

• Gross profit margin improved to 29.8% (from 28.7%); EBITDA up 31.9% to €893 million (8.2% of revenue).

• Net financial debt reduced to €93 million (from €997 million); net cash position of €231 million excluding IFRS 16.

• Earnings per share (excluding one-offs) rose 80.6% to €2.83.

• Proposed total gross dividend of €2.38 per share, up from €0.80 last year.

Outlook and guidance

• Macroeconomic context and Belgian retail market expected to remain challenging and highly competitive.

• Group aims to match 2023/24 operating profit and net result (excluding one-offs and discontinued operations) in 2024/25.

• Focus remains on growth, integration of acquisitions, cost control, and targeted investments in sustainability and digital transformation.