Jeronimo Martins : Q2 EBITDA a touch below. Margin pressure to continue in H2 2024
>Calendar effect reversal and soft trading take its toll - Sales grew at a pace of +7% y-o-y to € 8.2bn (vs +19% in Q1) with the group’s l-f-l contracting at -3% (vs +6% in Q1). By business, Biedronka sales grew +6% to € 5.8bn, significantly decelerating vs Q1 (+19%) negatively impacted by the calendar effect reversal, hard comps, basket deflation and a very competitive pricing environment. L-f-l deteriorated notably q-o-q to -4.6% (below expected). Hebe: sales grew ...Jeronimo Martins S.G.P.S. is a holding company. Through its subsidiaries, Co. is engaged as a food distribution company with operations in Poland and Portugal. Co. operates in four segments: Portugal Retail, which comprises the business unit of JMR - Gestao de Empresas de Retalho, SGPS, S.A. (Pingo Doce supermarkets); Portugal Cash & Carry, which includes the wholesale business unit Recheio; Poland Retail, which includes the business unit with the brand Biedronka; and Others, which includes marketing services and representations, restaurants in Portugal, health and beauty retail in Poland, and its retail business in Colombia.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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