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Portugal: Jerónimo Martins' profits increase 78.9% in H1 2021

Owner of Discount Retail Chain Biedronka (Poland) and ARA (Colombia) Jerónimo Martins closed the first half with a net profit of 186.1 million euros, a growth of 78.9% compared to the same period in 2020.

The net profit per share was 0.30 euros, a value that compares with the 0.17 euros from the same period of the previous year. “Our performance in these first six months shows the strength and competitiveness of our business models in all countries where we have operations.

Leading discounter Biedronka in Poland continued to guarantee consumer preference, showing that it is able to maintain momentum and create differentiating commercial opportunities in difficult times”, says Pedro Soares dos Santos, CEO and president of the company, quoted in a statement sent to the CMVM. The company's sales stood at 9,902 million euros, a year-on-year increase of 6.3%. EBITDA grew 12.6% to 715 million euros. Operating results grew 25.7% to 343 million euros. The investment was 200 million euros, a value that compares with the 142 million euros for the same period in 2020. Investment that was divided into 120 million euros by Biedronka, 43 million euros for distribution in Portugal, 19 million euros by Ara, with 18 million being channeled to other investments.

In the business in Portugal, supermarket chain Pingo Doce achieved sales of 1.9 billion euros, an increase of 4.6% compared to the same period of the previous year. Despite the growth, the company emphasizes that the banner continued to feel the effects of the limitation on the number of people inside the store. On the other hand, Pingo Doce opened three stores and renovated seven. In the case of Recheio, sales remained in line with the first half of 2020, amounting to 398 million euros.

Growth in Poland was more pronounced. Biedronka registered an increase in sales, in local currency, of 9.8%. In euros, sales were 7.0 billion, 6.8% above the first six months of 2020. In the case of Ara, a brand that operates in Colombia, sales rose 11.9% to 473 million euros.


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