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Eurocash SA
Publikacja: 2024-11-14 10:05

Eurocash trader posts PLN 243.8 mln EBITDA in Q3 2024, below market expectations

Listed FMCG trader Eurocash posted PLN 243.8 million (EUR 56.2 mln) EBITDA in the third quarter of 2024, down from PLN 305.1 million (EUR 70.3 mln) in the prior year period, the company said in a press release. PAP Biznes consensus assumed that the group's EBITDA would reach PLN 258.6 million (EUR 59.6 mln).


Eurocash's net profit in the third quarter of 2024 amounted to PLN 14.8 million (EUR 3.4 mln), against PLN 15 million (EUR 3.5 mln) net take expected by the market. Consolidated net profit of the parent reached PLN 3 million against a loss of PLN 91 million a year ago.

EBIT amounted to PLN 83 million (EUR 19.1 mln), against PLN 142 million (EUR 32.7 mln) in the prior year period and against a consensus for PLN 87.7 million (EUR 20.2 mln).

The group's consolidated sales in the third quarter of 2024 fell by 0.9 percent year on year to PLN 8.491 billion (EUR 1.955 bln). The analysts surveyed by PAP Biznes had expected PLN 8.465 billion (EUR 1.949 bln).

After the three quarters of 2024, the group had revenue of PLN 24.29 billion (EUR 5.6 bln), down 1 percent year on year. EBITDA fell by 18 percent year on year to PLN 608.6 million (EUR 140.2 mln). Net loss was PLN 92.4 million (EUR 21.3 mln) against a profit of PLN 44.3 million (EUR 10.2 mln) in the prior year period.

The group's net working capital (including inventories, trade receivables and trade payables) was negative at minus PLN 1.36 billion (EUR 313.2 mln) as of September 30, 2024, against minus PLN 1.19 billion (EUR 274.1 mln) on September 30, 2023.

The consolidated gross margin on sales in the third quarter of 2024 was 12.9 percent, down 0.5 percentage point year on year. In the first three quarters of 2024, the gross margin on sales decreased by 0.2 percentage point year on year to 13.1 percent.

The company said in the report that the group's sales in the first three quarters of the year were affected by negative macroeconomic factors, in particular low retail sales.

The LFL sales growth rate for the fixed number of Eurocash Cash&Carry discount wholesalers was minus 4.7 percent in the third quarter of 2024.

External merchandise sales made by the retail segment in the third quarter amounted to PLN 2.07 billion (EUR 476.7 mln), down by 3 per cent year on year.

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