Jeronimo Martins' Q4 profit rises on higher sales and margins

Jeronimo Martins SGPS SA

18/03/2026 20:56

By Sergio Goncalves

LISBON, March 18 (Reuters) - Portuguese retailer Jeronimo Martins JMT.LS on Wednesday posted a 2.3% rise in fourth-quarter net profit, driven by higher sales and margins in its Polish chain Biedronka, but warned of rising geopolitical tensions.

The company, whose main market is Poland, where Biedronka is the country's largest food retailer, booked a net consolidated profit of 163 million euros ($187.56 million) in the quarter,     even with intense competition and rising wage costs.

In a statement, CEO Pedro Soares dos Santos said the group showed a "remarkable ability to adapt, delivering solid sales growth, strong earnings, and robust cash flow," despite global geopolitical challenges and trade tensions.

However, he said 2026 began "with escalating geopolitical instability, whose impact on energy prices and food inflation remains unpredictable" and warned that Biedronka started the year in a deflationary environment.

Net consolidated sales rose 8.7% to 9.46 billion euros in the fourth quarter, fuelled by a 7.9% rise at Biedronka, where sales reached 6.59 billion euros, it said.

In Portugal, supermarket chain Pingo Doce posted a 5% rise in sales to 1.43 billion euros, while Colombian network Ara booked 897 million euros in sales, up 24% from a year earlier.

   Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 11.6% to 668 million euros.

   Overall EBITDA margin increased to 6.9% as of December, from 6.7% a year earlier, with the margin in Poland rising to 7.9% from 7.7%, while in Portugal it grew to 6.0% from 5.8%, it said.

The CEO said the group's priorities are sustainable, profitable growth while maintaining price leadership for customers.

Jeronimo Martins plans to keep investment in 2026 at last year's levels of around 1.2 billion euros, focused on opening more than 120 new stores in Poland, roughly 200 in Colombia and 35 in Slovakia.

   For the full-year 2025, net profit rose 7.9% to 646 million euros on sales up 7.6% to 36 billion euros.

($1 = 0.8690 euros)

 (Reporting by Sergio Goncalves; Editing by Chris Reese)

 ((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters Messaging: sergio.goncalves.reuters.com@reuters.net))