Jerónimo Martins Posts 9.4% Growth in Q1 2015 Sales
Portuguese retail group Jerónimo Martins saw a 9.4 per cent growth in sales to €3.2 billion in the first quarter of 2015.
Group EBITDA increased by 4.7 per cent to €165.7 million, while net profit increased 3.9 per cent to €64.8 million.
The Group Capex was €89 million in the quarter, with Biedronka absorbing 63 per cent of the total, while net debt was at €332 million.
In Poland, Biedronka total sales increased 11.2 per cent to €2.172 million and like-for-like (LFL) sales grew 2.9 per cent despite stronger basket deflation. In the period January to March, the company opened 58 stores, resulting in 234 new stores.
In its home market, Pingo Doce delivered another strong quarter with total sales growth of 3.9 per cent (+4.7 per cent excluding fuel) to €772 million and LFL sales, excluding fuel, increased 4.2 per cent. Two new stores were opened in Q1 taking the total to 382.
Total sales at Portuguese Cash & Carry unit Recheio grew 4.1 per cent to €180 million , with 4.7 per cent LFL sales growth in the quarter. The number of stores remained unchanged at 41.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic