Jerónimo Martins, SGPS, S.A. (JRONY) Q4 2025 Earnings Call Transcript

Operator

Good day, and welcome to Jeronimo Martins’ Full Year 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.

Ana Virgínia
Chief Financial Officer

Thank you, Nadia. Good morning, ladies and gentlemen, and thank you for joining this call. Before I take you through the Jeronimo Martins’ 2025 full year results, I will give the floor to our Chairman and CEO, Mr. Pedro Santos. Mr. Pedro Santos, the floor is yours.

Pedro Dos Santos
Chairman of the Board & CEO

Good morning, ladies and gentlemen. After a very tough 2024, 2025 was again a very challenging year for our companies in the countries where we operate. We knew it would not be a walk on the park, and it wasn’t. Quite on the contrary, we face pressure everywhere. Global geopolitical and trade tension, severe supply chain risks only aggravated by the very recent escalation in the Middle East has been weakening growth and negatively affecting consumers and also business confidence. Our solid sales performance in the year was achieved in the context of very price-sensitive consumers and of tough competition. Biedronka celebrated its third anniversary with a reinforcing commercial dynamic and price leadership. Despite the very intensive competitive environment driven by expand capacity of all players in a