Jerónimo Martins, SGPS, S.A. reported earnings results for the third quarter and nine months ended September 30, 2025. For the third quarter, the company reported sales was EUR 9,138 million compared to EUR 8,467 million a year ago. Net income was EUR 214 million compared to EUR 187 million a year ago. Basic earnings per share from continuing operations was EUR 0.34 compared to EUR 0.3 a year ago.
For the nine months, sales was EUR 26,534 million compared to EUR 24,765 million a year ago. Net income was EUR 484 million compared to EUR 440 million a year ago. Basic earnings per share from continuing operations was EUR 0.77 compared to EUR 0.7 a year ago.
Jerónimo Martins, SGPS, S.A. is a Group that holds assets in the food sector, mostly in distribution, with market leadership positions in Poland and Portugal, and an increasingly notable presence in Colombia. In 2024, the Group recorded sales of 33.5 billion euros and an EBITDA of 2.2 billion euros. The Group had a total of 139,907 employees and ended 2024 with a market capitalisation of 11.6 billion euros on Euronext Lisbon.
In Poland, Biedronka is the Group's largest business, accounting for c.70% of sales and c.80% of EBITDA. The Company has developed its operation in Slovakia, which will kick off in early 2025. Also in Poland, Hebe focuses on the specialised retail of health and beauty products, managing a considerable assortment of products at competitive prices and an in-store consultation service. Hebe also operates two brick-and-mortar stores in Slovakia and three in Czechia.
In Portugal, the Group also has a leadership position in food distribution. It operates the banners Pingo Doce and Recheio, which are market leaders in the supermarket and cash & carry formats, respectively. Pingo Doce is a supermarket chain that has a restaurant area in most of its stores. It is the largest restaurant network in the country. Recheio operates a chain of cash & carry stores and continues to expand a network of traditional retail partners under the Amanhecer banner.
Through its subsidiaries in Portugal and Morocco, Jerónimo Martins Agro-Alimentar focuses on four areas of agri-food production: dairy, livestock farming, aquaculture, and fruit and vegetables.
The Group also operates two specialised chains in Portugal, the Jeronymo coffee shops and kiosks, and the Hussel chocolate and confectionery chain.
In Colombia, Ara is a chain of proximity food stores, mostly set up in residential neighbourhoods. Also in Colombia, Bodega del Canasto (BdC) operates a mini cash & carry format, a distributor for the traditional market (B2B), offering a customised solution of Private and industry brands.
This super rating is the result of a weighted average of the rankings based on the following ratings: Global Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Global Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite), and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of the rankings based on the following ratings: Capital Efficiency (Composite), Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
