Jeronimo Martins Pe (JRONF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Jeronimo Martins first nine months 2025 results conference call. Today's conference is being recorded. At this time I would like to turn the conference over to Ms. Ana Luisa Virginia, Chief Financial Officer of Jeronimo Martins Group. Please go ahead madam. Thank you Sharon. Good morning ladies and gentlemen and thank you for joining this call dedicated to our first nine months as results. As usual In our corporate website, you can find the results release, a slide presentation, and a fact sheet for the period. The first nine months of 2025 continue to be defined by the ongoing global geopolitical uncertainty that is also shaping consumer sentiment and fostering a more cautious, value-driven approach among shoppers. Against this challenging context, price remained at the heart of our strategy across all banners. Every team worked hard to uphold our promise of price leadership and to curate an attractive quality assortment, securing customer preference and driving sales growth. The reinforced commitment to cost discipline, operational efficiency and productivity paid off and ensured that the BPA margins remained robust, despite the tough combination of low-basket inflation with high-cost inflation in extremely competitive backdrops. Meanwhile, our ambitious CAPEX program is being executed as planned, reaching €816 million in the period, with the opening of 274 new stores and the renovation of 170 locations. The balance sheet captures robustness, closing September with a net cash position excluding capitalized leases of €467 million. All in all, our nine-month results are solid and show that our banners business models are agile and prepared to adjust and respond to the current circumstances. Looking now at the P&L, I'm going to focus on the...