Jerónimo Martins (JMT) Q4 2025 TU earnings summary

Executive summary

• Achieved strong sales growth in 2025, with net sales reaching €35,991 million, up 7.6% year-over-year, driven by price leadership and promotional focus across all banners.

• All banners delivered volume growth, supported by over 448 new store openings and 282 remodels, including Biedronka's entry into Slovakia.

• Maintained strategic priorities of price competitiveness, assortment innovation, and store quality improvements amid cautious consumer sentiment.

Financial highlights

• Net sales rose 7.6% to €35,991 million in 2025, with like-for-like (LFL) growth of 2.5%.

• Q4 2025 sales increased 8.7% to €9,457 million, with LFL growth of 3.0%.

• Biedronka contributed €25,343 million (+7.5%), Pingo Doce €5,342 million (+5.3%), Ara €3,228 million (+13.2%), Hebe €626 million (+7.4%), and Recheio €1,398 million (+3.0%).

Outlook and guidance

• Entering 2026 with confidence despite ongoing geopolitical uncertainty, reaffirming commitment to price leadership, promotions, and quality.

• Continued focus on evolving stores and logistics operations, with operational teams as a central priority.