Portuguese food distribution group Jerónimo Martins reported a 9.3% sales increase in full-year 2024, reaching €33.5 billion, a new company record, while fourth-quarter turnover was up by 6.7%, to €8.7 billion.
The company attributed this performance to its focus on competitive pricing and continuous brand investments, particularly crucial in a year where consumer spending remained cautious.
Polish grocery retailer Biedronka remained the key driver of growth, contributing 70.4% to the group's total revenue with a 9.6% sales increase to €23.6 billion.
The division expanded its network by adding 187 new stores (161 net additions) and refurbishing 280 existing outlets.
Hebe, the health and beauty chain, experienced a 24.3% sales surge, to €583 million, with online sales accounting for nearly 20% of its total revenue.
The company opened 36 stores in Poland, resulting in a net increase of 33 stores, an addition to two in Slovakia and one in the Czechia.
Other Retail Banners
In Portugal, supermarket chain Pingo Doce saw a 4.5% sales increase, to €5.1 billion, despite a challenging economic environment. The banner opened ten new locations and closed three, accounting for 15.2% of group revenue.
Cash-and-carry unit Recheio experienced a modest growth of 1.9% to €1.4 billion due to a slight contraction in the out-of-home consumption market.
The Ara supermarket banner in Colombia demonstrated strong performance with a 17% sales increase to €2.9 billion.
Jerónimo Martins closed 2024 with a network of 6,081 stores, including 3,730 Biedronka, 489 Pingo Doce, 43 Recheio, and 1,438 Ara outlets. Over the past year, the group opened 386 new stores and remodelled 366 stores across its markets.
Looking ahead, CEO Pedro Soares dos Santos, highlighted, “As we enter 2025, in a context that will remain turbulent and uncertain, at least in the first half of the year, we expect consumer behaviour to keep being shaped by prudence, and market competitive dynamics to remain highly pressured.”
