JRONF - Jerónimo Martins SGPS S.A. (JRONY) Q4 2023 Earnings Call Transcript

2024-03-07 13:04:07 ET

Jerónimo Martins, SGPS, S.A. (JRONY)

Q4 2023 Earnings Conference Call

March 07, 2024 04:00 AM ET

Company Participants

Ana Luisa Virginia - Chief Financial Officer

Pedro Soares Santos - Chairman & Chief Executive Officer

Conference Call Participants

João Pinto - JB Capital

William Woods - Bernstein

Viraj Brahmbhatt - Citi

José Rito - CaixaBank BPI

Michal Potyra - UBS

Clément Genelot - Bryan, Garnier & Co.

Nicolas Champ - Barclays

Nick Coulter - Citi

Presentation

Operator

Good day, and welcome to the Jerónimo Martins Full Year 2023 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 Jerónimo Martins Group. Please go ahead, madam.

Ana Luisa Virginia

Thank you, Sandra. Good morning, ladies and gentlemen, and thank you for joining this call. Before I invite you to go through the Jerónimo Martins' 2023 full year results, I will give the floor to our Chairman and CEO, Mr. Pedro Soares Santos.

Mr. Pedro Santos, the floor is yours.

Pedro Soares Santos

Thank you, Ana. Good morning, ladies and gentlemen. Before I give the floor to Ana Luisa, let me take a couple of minutes to share with you, how I feel about 2023 performance and also how I see the months ahead.

As you may remember in the last couple of years my remarks regarding the operational environment has been very consistent with the words like uncertainty, pressure and inflation clearly setting the tone. It was against the persistently challenging backdrop in the three countries where we operate that once again we delivered what I consider a remarkable set of results.

In 2023, we surpassed two very meaningful milestones, the €30 billion in sales with the relevant help from inflation and the €2 billion in EBITDA. These indicators alone when put into perspective allow us to tell a story of growth, driven by a clear priority, firm execution, efficiency and profitability.

In fact, since 2019, we have been living through a very demanding and risky times, a pandemic a long lasting war in the neighbor countries to our most important market, inflation rates at the peak and the more recent war in Gulf. This tragic conflict in the Middle East is raising tensions, namely in the Red Sea and the Gulf of Aden further impacting international trade....

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