Jeronimo Martins has announced a strong performance for Q2 FY23 – revenue was in-line but EPS was ahead of the market expectations. The Group’s lfl sales improved by 15.2% yoy, with positive momentum in all business segments. The EBITDA margin slumped by 28bp yoy, partially offsetting the 60bp decline in the gross margin. While Biedronka continued to gain volume and market share, the trading conditions were difficult for Colombian Ara (consumers are trading down). We continue to see JMT as a hea ....
31 Jul 2023
Strong Q2 performance; management trying to balance sales growth and profitability!
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Strong Q2 performance; management trying to balance sales growth and profitability!
- Published:
31 Jul 2023 -
Author:
Nishant Choudhary -
Pages:
3
Jeronimo Martins has announced a strong performance for Q2 FY23 – revenue was in-line but EPS was ahead of the market expectations. The Group’s lfl sales improved by 15.2% yoy, with positive momentum in all business segments. The EBITDA margin slumped by 28bp yoy, partially offsetting the 60bp decline in the gross margin. While Biedronka continued to gain volume and market share, the trading conditions were difficult for Colombian Ara (consumers are trading down). We continue to see JMT as a hea ....