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Jeronimo Martins SGPS SAJeronimo Martins posts EUR 187 mln attrib. net profit in Q3
Portugal's Jeronimo Martins Group, the owner of Poland's largest retail chain Biedronka, posted an attributable net profit of EUR 187 million in the third quarter of 2024, compared to EUR 202 million a year earlier, the company said in its Q3 financial report on Wednesday.
Revenues rose by 6.7 percent to approximately EUR 8.47 billion in the period. The company's EBITDA amounted to EUR 593 million, up 1.2 percent year on year.
Cumulatively in the first three quarters of 2024, the group's EBITDA rose by 2.7 percent year on year to EUR 1.633 billion with a revenue amounting to EUR 24.765 billion, up 10.3 percent year on year. The net profit attributable to JM amounted to EUR 440 million, down 21.2 percent year on year.
Revenues of the Biedronka chain increased by 3.9 percent year on year in PLN in the first nine months of 2024 to EUR 17.46 billion and increased by 2.6 percent in PLN in the third quarter amounting to EUR 5.921 billion.
LFL sales decreased by 0.7 percent in the first nine months of the year and decreased by 1.9 percent in the third quarter.
Biedronka's EBITDA amounted to EUR 1.34 billion in the first three quarters of 2024 versus EUR 1.35 billion a year prior. The margin fell to 7.7 percent from 8.6 percent in the previous year period.
Jeronimo Martins' CAPEX in the first nine months of the year amounted to EUR 648 million, compared to EUR 790 million a year ago, including Biedronka's CAPEX at EUR 253 million.
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