Retail

Jerónimo Martins Sees Sales Surpasses €20bn Milestone

Share this article

Portuguese retail group Jerónimo Martins surpassed the €20 billion sales milestone in full-year 2021, with all the group's banners contributing to its positive performance.

According to preliminary data filed to the Securities and Exchange Commission (CMVM), sales increased 8.3% year-on-year (+10.7% at constant exchange rates, +8% like-for-like), to €20.9 billion.

Despite the 'uncertainty' of the pandemic, and the negative impact of currency devaluation, Jerónimo Martins boosted its market positions in all markets, it said.

Banner Performance

In Poland, Biedronka, which accounts for 70% of the group's revenues, increased sales 8% (+8.3% LFL) during the full year to €14.5 billion, surpassing its objective outlined for 2021 and opening 164 new locations.

Drugstore chain Hebe saw sales growth of 13.5% in the same period to €278 million.

In Portugal, supermarket chain Pingo Doce reached €4.04 billion revenue (+4.6% y/y, +2.7% LFL excluding fuel), 'despite intermittent [COVID-19] restrictions', the group said.

Sales at cash & carry chain Recheio amounted to €906 million (+7%).

In Colombia, the Ara supermarket chain achieved €1.10 billion in sales thanks to 29% annual growth (+24.3% LFL), the highest within the group.

Fourth Quarter

Specifically looking at the fourth quarter, at group level, sales increased by 11.5% (+13.7% at constant exchange rates, +10.5% LFL) to €5.7 billion.

In Poland, Biedronika sales grew 10% to €3.91 billion, while Hebe achieved 29.5% growth to €84 million.

In Portugal, Pingo Doce's sales grew 6.4% to €1.09 billion, while Recheio registered 18.6% growth to €247 million.

For 2022, Jerónimo Martins expects 'continued uncertainty' due to the evolution of the pandemic and 'resulting challenges', including rising food inflation in all three markets.

However, the group is confident it will end another year with 'profitable and sustainable growth'.

"In 2022, in addition to the uncertainty associated with the evolution of the pandemic, we will have to manage the acceleration of food inflation registered at the end of the year in the three geographies where we operate," commented chief executive Pedro Soares dos Santos.

In December, the group inaugurated a new training centre aimed at assisting those with disabilities to increase their employability.

© 2022 European Supermarket Magazine. Article by Branislav Pekic. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days

Copyright © 2022. All rights reserved. Developed by Square1 and powered by PublisherPlus.com