Jeronimo Martins : Q2 preview: inevitable calendar-effect unwinding
>Q2 2024 earnings preview - Jeronimo Martins is due to publish its Q2 2024 results on 24 July. We expect sales to grow 7% y-o-y to € 8.3bn (vs +19% in Q1) while we expect margin deterioration of 72bp to 6.5% (vs -26bp in Q1) as the calendar effect unwinds, while the competitive environment in all regions remains challenging with no sign of up-trading for now. Lastly, we expect the bottom line to post a negative y-o-y trend of -29% impacted by EBITDA (-2% y-o-y), giv...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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