Jeronimo Martins, Sgps S.a. · EURONEXT:JMT

Jeronimo Martins, Sgps — FY2010 Earnings Presentation

22 slides from Jeronimo Martins, Sgps's earnings presentation, Feb 18, 2011

  1. Slide 1: 2010 Results

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  2. Slide 2: Key Figures

    2010FY RESULTS Key Figures (Million Euro) 2009 2010 Net Sales 7,317.1 +18.8% 8,691.1 EBITDA 528.0 +23.6% 652.6 EBITDA Mg. 7.2% 7.5% Net attr. Results 200.3 +40.3% 281.0 EPS (Euro) 0.32 0.45 Net Debt 692.0 577.5 Gearing 64.9% 51.0% 2

  3. Slide 3: The Group Today

    2010FY RESULTS The Group Today Jerónimo Martins, SGPS S.A. Sales 10FY= Euro 8,691 mn EBITDA 10FY = Euro 653 mn (7.5%) Inv. Capital 10YE = Euro 1,709 mn Manufacturing Services Food Distribution Portugal Portugal 100% 51% 100% 45% 100% / 100% / 51% Retail Poland Retail Portugal Wholesale Portugal JMD

  4. Slide 4: Solid Sales Growth – Strengthening Leadership

    2010FY RESULTS Solid Sales Growth – Strengthening Leadership Contribution to Sales Growth (Million Euro) 8,691 248 32 11 8,333 358 8,691 7,317 725 7,317 Biedronka +29% 55% 51% +9.9% +3.4% +0.4% +0.1% +13.9% +4.9% +18.8% 32% Retail 34% +10% Mainland 9% +5% 8% Recheio Others 2009 Biedronka Retail Rech

  5. Slide 5: Biedronka

    2010FY RESULTS Biedronka Strategic Focus 2010 Status Organic Growth Plan  197 store openings, +15.2% selling area (yoy) Keeping LFL momentum  LFL at double digit and outperforming peers Contribution to Sales Growth (Million Euro) LFL Sales Growth – A very solid trend 357 4,807 318 4,450 407 13.3%

  6. Slide 6: Pingo Doce

    2010FY RESULTS Pingo Doce Strategic Focus 2010 Status Increasing Market Share  Sales grew 9.9% in a weak market environment Increasing Awareness  Leadership in advertising total recall Contribution to Sales Growth (Million Euro) LFL Sales Growth – Best performance in the market 171 78 2,749 2,501

  7. Slide 7: Recheio

    2010FY RESULTS Recheio Strategic Focus 2010 Status Increasing Market Share  Sales grew 4.6% in a declining market Reinforcing Proximity  3 new stores – closer to key clients (HoReCa) Contribution to Sales Growth (Million Euro) LFL Growth – Solid and steady outperformance 22 10 721 4.0% 3.9% 689 3.

  8. Slide 8: Manufacturing

    2010FY RESULTS Manufacturing Strategic Focus 2010 Status Protecting Key Market Shares  Volume growth in key categories Maintaining Leadership in Innovation  22 new products launched 4% Sales Breakdown 18% 34% Food Home & Personal Care Olive Oil & Seed Oils 19% Ice Cream Food Solutions 25%  Market

  9. Slide 9: EBITDA increased 23.6%

    2010FY RESULTS EBITDA increased 23.6% Contribution to EBITDA Growth (Million Euro) 653 29 653 528 91 7 3 623 528 ‐6 60% Biedronka +44% 51% +17.2% +1.3% +0.6% ‐1.1% +18.0% +5.6% +23.6% 34% +4% 29% Retail Mainland 8% +7% 7% Recheio Others 2009 Biedronka Retail Recheio Others 2010 w/o F/X 2010 2009 201

  10. Slide 10: Healthy Growth

    2010FY RESULTS Healthy Growth (Mi l l i on Euro) 2010 2009 Net Sales & Services 8,691 7,317 18.8% Tota l Ma rgi n 2,042 23.5% 1,718 23.5% 18.9% Opera ti ng Cos ts ‐1,390 ‐16.0% ‐1,190 ‐16.3% 16.8% EBITDA 653 7.5% 528 7.2% 23.6% Depreci a ti on ‐191 ‐2.2% ‐168 ‐2.3% 13.3% EBIT 462 5.3% 360 4.9% 28.4%

  11. Slide 11: Capex

    2010FY RESULTS 2010FY RESULTS Capex Total Capex reached Euro434.2 mn. Biedronka accelerating its expansion Manuf. & Others Recheio Others 4% 7% 19% Retail Expansion Mainland 47% 27% Biedronka 62% Revampings 34% Biedronka Pingo Doce Recheio  197 new stores opened  7 new stores opened  3 new stores

  12. Slide 12: Balance Sheet

    2010FY RESULTS Balance Sheet Strong Balance Sheet and healthy access to extra funding (if required) 2010 2009 1.200 Net Goodwill 747 737 100% Net Fixed Assets 2,309 2,102 1.000 Net Working Capital ‐1,425 ‐1,201 80% 800 64.9% Others 78 121 51.0% 60% Invested Capital 1,709 1,758 600 Financial Debt 782

  13. Slide 13: Strong Momentum in our Growth Strategy

    2010FY RESULTS Strong Momentum in our Growth Strategy EBIT Margin Progressed Capital Turnover Improved Pre‐Tax ROIC Boosted 8,691 7,317 23.4% 5.3% 4.9% 2,005 1,977 17.9% 2009 2010 2009 2010 2009 2010 EBIT Mg Sales Avg. Inv. Capital Pre Tax ROIC Top line growth allowing  Focus on LFL sales Capital

  14. Slide 14: Outlook 2011 (1/2)

    OUTLOOK 2011 (1/2)  Very positive stance towards macro economic evolution in Poland POLAND  Focus will remain on organic and LFL growth of Biedronka: c. 200 net additions to store network and LFL sales growth aimed at double digit  Difficult macroeconomic environment with GDP decrease and unemplo

  15. Slide 15: Outlook 2011 (2/2)

    OUTLOOK 2011 (2/2)  At the macroeconomic level it is worth mentioning a possible pressure on volumes in retail markets derived by a bounce back of food inflation  Growth will remain the priority of the Group  New stores ‐ Capex program to reach Euro450‐500 mn GROUP  LFL ‐ brought by improved com

  16. Slide 16: Disclaimer

    Disclaimer This presentation includes forward‐looking statements that involve risks and uncertainties. Actual results may differ materially from those stated in any forward‐looking statement based on a number of factors. Jerónimo Martins assumes no obligation to update the information contained in t

  17. Slide 17: Appendix

    RESULTS 2010 APPENDIX

  18. Slide 18: Store Network

    2010FY RESULTS Store Network NUMBER OF STORES Openings Closings Network Number of Stores 09 YE Q1 10 Q2 10 Q3 10 Q4 10 10 FY Q1 10 H1 10 9M 10 10 YE Biedronka 1,466 42 25 38 92 14 1,504 1,527 1,559 1,649 Retail Portugal 343 1 2 3 1 1 343 345 348 349 Supermarkets 334 1 2 3 1 1 334 336 339 340 Hyperma

  19. Slide 19: Sales Breakdown

    2010FY RESULTS Sales Breakdown NET SALES AND SERVICES (Million Euro) 2010 2009 % Q4 10 Q4 09  % total % total Pln Euro % total % total Pln Euro Biedronka 4,807 55.3% 3,725 50.9% 19.5% 29.1% 1,341 56.9% 1,050 52.6% 21.4% 27.7% Retail Mainland 2,995 34.5% 2,708 37.0% 10.6% 804 34.1% 735 36.8% 9.4%

  20. Slide 20: Sales Growth

    2010FY RESULTS Sales Growth SALES GROWTH Total Sales Growth LFL Sales Growth Q1 10 Q2 10 Q3 10 Q4 10 10 FY Q1 10 Q2 10 Q3 10 Q4 10 10 FY Biedronka Euro 36.7% 27.8% 25.5% 27.7% 29.1% PLN 21.2% 15.3% 20.0% 21.4% 19.5% 13.3% 8.0% 12.1% 12.8% 11.6% Retail Portugal 9.4% 9.3% 12.6% 8.5% 9.9% 7.9% 6.8% 8.7

  21. Slide 21: EBITDA Margin Breakdown

    2010FY RESULTS EBITDA Margin Breakdown EBITDA MARGIN 2010 % total 2009 % total Biedronka 8.1% 60.0% 7.3% 51.4% Retail Mainland (store sales) 6.8% 28.6% 7.2% 34.0% Recheio 6.2% 6.8% 6.0% 7.8% Madeira 4.7% 1.0% 4.8% 1.2% Manufacturing 14.4% 5.2% 15.3% 6.9% Mkt, Repr. and Rest. Services 1.6% 0.2% 1.6%

  22. Slide 22: Financial Calendar and Investor Relations

    FINANCIAL CALENDAR: Shareholder's Meeting: March 30, 2011 1st Quarter 2011 Results: May 4, 2011 1st Half 2011 Results: July 27, 2011 9 Months 2011 Results: October 27, 2011 Investor Relations +351‐21 752 61 05 investor.relations@jeronimo‐martin.pt Cláudia Falcão claudia.falcao@jeronimo‐martins.pt Hu

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