Jeronimo Martins Pe (JRONF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Geronimo Martin's first half 2025 results webcast and conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you need to press star 1 1 on your telephone keypad. You will hear an automatic message advising your hand is raised. To withdraw a question, please press star 1 1 again. Please be advised that this conference has been recorded. I would now like to hand the conference over to our speaker today, Ana Luisa Virginia. Please go ahead. Thank you, Nadia. Good morning, ladies and gentlemen, and thank you for joining this call dedicated to our first half results. As usual, in our corporate website, you can find the results release, a slide presentation, and a fact sheet for the period. As anticipated, in the first six months of 2025, we faced a challenging operating context that combined muted food consumption, low basket inflation, and rising wages. Despite the increase in salaries across the countries where we operate, families have in general kept cautious spending habits and a clear preference for value opportunities, particularly in what food is concerned. Against this backdrop, market competitive dynamics continue to be intense. Prioritizing sales growth, we maintained our focus on providing the best prices and the best saving opportunities, which enabled us to retain consumer preference, increase the top line, and gain further share. This sales growth, coupled with stricter cost management and additional productivity measures, more than offset margin pressure. In the period, we also registered good progress in our CapEx program, which is our first priority for capital allo...