Colruyt Group (COLR) H2 2025 earnings summary

Executive summary

• Revenue increased by 1.1% to nearly €11.0 billion in 2024/25, driven by acquisitions and despite a highly competitive Belgian retail market and lower food inflation.

• Operating profit declined by 5.0% to €446 million, with net result from continuing operations down 9.0% to €334 million, excluding prior year one-off gains.

• Investments totaled €479 million, focused on new stores, renovations, production, logistics, automation, and digital transformation.

• The group remains committed to its long-term strategy, emphasizing productivity, sustainability, and local anchoring.

Financial highlights

• Gross profit margin improved to 30.0% (from 29.8% year-over-year), supported by higher-margin activities.

• EBITDA decreased by 3.9% to €859 million (7.8% of revenue).

• Net financial result turned positive at €1 million, mainly due to higher returns on cash.

• Earnings per share (EPS) excluding one-off effects was €2.71, down 7.0% from €2.91 year-over-year.

• Ordinary gross dividend proposed at €1.38 per share (prior year: €2.38, including a special dividend).

Outlook and guidance

• Macroeconomic context expected to remain challenging and competitive in Belgium.

• Food inflation stabilized at around 2%; price-cost gap less negative.

• Targeting stable operating profit for 2025/26; full-year guidance to be presented in September 2025.

• Focus on growth through integration of acquisitions, expansion, productivity, and working capital reduction.