Jeronimo Martins SGPS SA (CHIX:JMTu)
€ 18.355 0 (0%) Market Cap: 11.59 Bil Enterprise Value: 14.78 Bil PE Ratio: 18.11 PB Ratio: 4.07 GF Score: 77/100
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Half Year 2024 Jeronimo Martins SGPS SA Earnings Call Transcript

Jul 25, 2024 / 08:00AM GMT
Release Date Price: €16.55 (-14.65%)
Ana Abreu Coelho Virginia
Jeronimo Martins SGPS SA - Member of the Managing Committee, Head - Finance and Data Privacy

Good morning, ladies and gentlemen, and thank you for joining this call to present our first half results. As a reminder, in our corporate website, you can find the results release a slide presentation and fact sheet for the period.

In line with our expectations, the operate operating circumstances in 2024 so far have been extremely challenging with a sharp drop of food inflation after the exceptionally high values registered in the last two years. Significant cost inflation, mainly driven by rising salaries and fierce competition.

Also in our main markets, Poland, consumer behavior has been unresponsive to the real wage increases, which is somewhat surprising considering the current macroeconomic environment. In these challenging conditions, our banners continued to strengthen their competitiveness, investing strongly in price to push for sales without neglecting the overall quality of their offer to consumers.

As a result and despite the headwind from

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