Poland's largest food retailer Biedronka is preparing to expand to other countries, the CEO of its Portuguese owner Jéronimo Martins has said, adding that Romania was one potential new market.
"The moment is coming to go beyond (Polish) borders", Pedro Soares dos Santos told a news conference, adding that the Polish discount supermarket chain would also reinforce its balance sheet this year.
"The country we'd like to go to is Romania ... whether it will be this year or next, I don't know," said Soares dos Santos.
According to Polish trade press, the retailer is eyeing the purchase of a retail chain currently operating in Romania, rather than developing a new business from scratch.
Profit Gain
Boosted by the Polish business, Jéronimo Martins on Thursday reported a 7.9% rise in net profit for 2019, surpassing the €1 billion EBITDA mark for the first time.
Sales at Biedronka jumped 8.8% in 2019 on a local currency basis, despite new regulation that prohibits supermarkets in Poland from opening on some Sundays, a change to which the company has now fully adapted, Soares dos Santos said.
Jéronimo Martins is Portugal's second-largest retailer and also operates in Colombia.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.
