Skip to content
  • Share
  • Listen

CitiGroup

Start of Coverage: 04-02-2008

Resume of the last report made by this analyst

Following JMT’s 4Q sales print, we update our model/forecasts raising FY20E EBITDA by +1% to €1,415m (post IFRS16, pre: +2% to €1,019m). We expect Biedronka’s +6.9% LFL beat to drive incremental operating leverage (pre-IFRS 16 4Q: +10bps) but be partially offset by higher central charges (4Q: -€23m).

Analyst: Nick Coulter

e-mailnick.coulter@citi.com

The information presented refers to recommendations issued by analysts that follow the Jerónimo Martins share. For more information, please read the Analysts Coverage section in this website’s Terms and Conditions.