Jeronimo Martins posted Q2 results globally in line with Q1. Biedronka sales grew 12%, mainly driven by expansion, while food deflation is still impacting lfl (+2.4%). Higher opex relative to sales continued to impact Biedronka's EBITDA margin by 20bp. Pingo Doce's comp sales were up 4.7% benefiting from positive food inflation (+1.7% in Q2 vs flat in Q1). Pingo Doce's EBITDA margin was down 20bp as the company focused on maintaining strong top-line growth. The group's EBITDA reached €19
11 Aug 2015
Battling for market share is key for future growth
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Battling for market share is key for future growth
Jeronimo Martins, SGPS S.A. (JEM:FRA) | 0 0 0.5% | Mkt Cap: 11,076m
- Published:
11 Aug 2015 -
Author:
Virginie Blin -
Pages:
2
Jeronimo Martins posted Q2 results globally in line with Q1. Biedronka sales grew 12%, mainly driven by expansion, while food deflation is still impacting lfl (+2.4%). Higher opex relative to sales continued to impact Biedronka's EBITDA margin by 20bp. Pingo Doce's comp sales were up 4.7% benefiting from positive food inflation (+1.7% in Q2 vs flat in Q1). Pingo Doce's EBITDA margin was down 20bp as the company focused on maintaining strong top-line growth. The group's EBITDA reached €19