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First Nine Months 2018 Results

The sales performance achieved in the three countries helped grow key indicators, strengthening the market shares of all the Group’s banners and boosting the competitiveness of the business models.

Sales
12.8 B€
Profit
292 M€
EBITDA
709 M€
Investment
476 M€

Message from the Chairman and Chief Executive Officer

Pedro Soares dos Santos

Our steady focus on sales growth and consumer preference across all banners produced a very good performance in the first nine months of the year.

In a not-yet-stabilized context of adapting to the Sunday ban, Biedronka continued to gain market share (+1.7p.p. ytd August) and to secure its operational profitability. This performance was achieved with 16 fewer trading days and lower food inflation.

In Portugal, Pingo Doce and Recheio delivered a remarkable performance driven by effective commercial actions.

In Colombia, Ara expanded both its store network and logistic infrastructure. The Company was able to contain its losses at the EBITDA level, and is making progress on key profitability drivers of pivotal relevance for the future.

Based on our performance so far, I am confident that all our models will deliver a solid Q4 in terms of both sales’ growth and profitability.