Jerónimo Martins - 1st Quarter 2012 Results

Main Group highlights

• Net Profit grows 20.8% to 68 million euros, with the main contribution coming from Biedronka
• Consolidated Sales grow 8.8% and reach 2,440 million euros
• Operating Cash Flow (EBITDA) increases 9.2% to 152 million euros
• Net Debt falls to 216 million euros, with gearing at 15.9% (50.6% in the first quarter of 2011)
• CAPEX totals 93 million euros
• Investment in Poland corresponded to 86% of total investment in the quarter