erónimo Martins (JM) increased its net income to 181M€ in the first semester of the year, which represents a 0.7% increase relative to the same period of 2018.
Jerónimo Martins (JM) increased its net income to 181M€ in the first semester of the year, which represents a 0.7% increase relative to the same period of 2018, boosted by the business growth in Poland. Just in the second trimester of the year, the group’s profits ascended to 109M€, 14% more than last year’s, thanks to the positive effect of Easter.
“In line with our strategy, the focus on both the consumer and sales growth remain the main priorities for the group without compromising the costs discipline and the efficiency philosophy that make the profitability and competitiveness of our business models. These strategic options allow us to end this semester with strong growth both in sales and the EBITDA”, Pedro Soares dos Santos, JM’s CEO, said in a statement.
Sales increased by 5.7% in the first six months of the year to 8.908M€, presenting a like-for-like growth of 3.9%. The Polish Biedronka increased sales by 7%, despite the recent changes imposed by the Polish government regarding the number of working days (provoking a reduction of 8 sales days so far). The health business there, Hebe, registered a massive increase of 26.4%. Colombian Ara, for instance, soared 31.6%.
In Portugal, Pingo Doce increased sales by 4.1% (3.4% in like-for-like growth) to 1.9Bn€ in the first semester of the year, boosted in the second trimester by Easter. Recheio, for instance, increased by 2%.
EBITDA remained at 471M€ this semester (+5.6% than last year’s). In the second trimester, it was at 446M€ (+11.3%).
Over the rest of the year, we wish to keep growing above the markets where we operate. For that goal, we will keep strengthening our operations as well as working for making the best offers to deserving the consumer’s preference and acknowledgement”, Soares dos Santos stated, maintaining the investment’s projection of 700 to 750M€.