Jeronimo Martins' quarterly profit rises 31%, beating expectations

Jeronimo Martins SGPS SA

07/05/2025 17:59

LISBON, May 7 (Reuters) - Portuguese retailer Jeronimo Martins JMT.LS on Wednesday posted a 31% rise in first-quarter net profit that beat analysts' expectations, as the firm's sales remained strong despite fierce competition in its key market, Poland, and it kept its margin stable.

The company booked a net profit of 127 million euros ($144 million) between January and March - a quarter that this year did not include the Easter holiday season, unlike in 2024 - above the 106 million average forecast by analysts polled by LSEG.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 3.8% to 528 million euros, also beating the average forecast of 502 million.

The consolidated EBITDA margin, which measures profitability, stood at 6.3% at end-March, the same level as a year ago. Polish food retail leader Biedronka's margin was also steady at 7.7%.

Consolidated sales increased by 3.8% to 8.4 billion euros in the quarter, while sales at Biedronka grew by 3.4% to 5.9 billion euros.

($1 = 0.8813 euros)

 (Reporting by Sergio Goncalves; Editing by David Latona)

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