Jeronimo Martins Reports 20% Profit Drop Due to Margin Pressure
(Reuters) - Portuguese retailer Jeronimo Martins on Wednesday posted a 19.7% drop in fourth-quarter net profit despite robust sales, as discounts offered in its key market Poland, along with stubborn cost inflation, hit its margins.
The food retailer said in a statement it earned 159 million euros ($173.12 million) in the quarter, missing the 175 million average forecast by analysts polled by LSEG.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) grew 3.6% to 598 million euros, but its EBITDA margin slipped to 6.9% at end-2024 from 7.1% a year earlier.
($1 = 0.9184 euros)
(Reporting by Sergio Goncalves; editing by Diane Craft)
