Biggest FMCG retailer Jeronimo Martins ups LFL sales in Poland by 5.5% in Q3.

By bne IntelliNews October 26, 2012
Portugal's Jeronimo Martins Polska - the owner of Poland's biggest discount FMCG stores network Biedronka - increased its like-for-likes (LFL) sales in Poland by 5.5% y/y in Q3 of 2012 alone, according to JM's report. In January-September, Biedronka's sales increased by 17.6% in local currency, as a result of a 6.5% increase in LFL sales and the additional number of stores, the firm also reported. In euro terms, Biedronka's contribution to the group's sales was 61% vs. 59% a year earlier. EBITDA generated by Biedronka in the nine months of this year increased by 23.3% in local currency (+17.9% in euros). Biedronka represents 72% of th group's EBITDA. "The growth of the Polish economy has slowed during the year but the company continues to achieve sales growth well ahead of the market and strengthen its market share.," the report reads. Biedronka opened, in Q3, 66 new stores and inaugurated its eleventh distribution centre (as well as its 2000th store) at the beginning of October, now operating 10 logistic regions in Poland. The firm says it is on track to open 250 new stores in Poland the year . The Group's investment programme for 2012 is forecast to reach around EUR 650mn, while around 80% of this sum will be invested in Poland.
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