The proposal presented by the Board of Directors of Jerónimo Martins to the General Shareholders’ Meeting, held this morning, to amend the Company’s statutes to make it possible for part of the annual net profits or part of the existing free reserves to be allocated to the annual endowment of the newly created Fundação Jerónimo Martins (Foundation) received more than 550 million votes in favor.
This is an unequivocal and very expressive approval of the logic of sharing results with other interested parties in addition to the shareholders that the creation of the Foundation represents, within the scope of Jerónimo Martins’ corporate responsibility.
Established on 19 March with an initial endowment of 40 million euros, the Jerónimo Martins Fundação (Foundation) will develop its mission among the Group’s employees and their families and, in addition, the community in general, especially in response to vulnerable socioeconomic situations. Its activity will focus on the areas of health and well-being, prevention and eradication of poverty, promotion of education, employment and professional training, protection in old age and disability and support for families, children and young people.
Board of Directors proposes to the shareholders that part of Jerónimo Martins’ annual net profits start being allocated to the Foundation.
Jerónimo Martins, SGPS, S.A. (JM) announces that under its corporate social responsibility policy, and in order to increase the scale and extend the reach of its social and charitable initiatives, on the 19th of March, it established Fundação Jerónimo Martins (Foundation), with an initial endowment of 40 million euros.
This Foundation will carry out its mission with the Group’s employees and their respective families, complemented by activities with the community especially in response to situations of socio-economic vulnerability. Its activity will focus on health and well-being, preventing and eradicating poverty, fostering education, employment and vocational training, providing protection to the elderly and disabled, and supporting families, children and young people.
As stated in the preparatory document for point four of the notice, published today, of the General Shareholders’ Meeting to take place on the 18th of April, the Board of Directors of JM is proposing to its shareholders an amendment to the Company’s Articles of Association, foreseen that part of the net profits of each financial year (or of the free reserves), in an annual amount of up to 40 million euros, may be allocated to an endowment to the Foundation.
Both the formation of this Foundation and the terms of its annual funding, if the above-mentioned proposal is approved, reflect a rationale where profits are to be shared among stakeholders other than shareholders.
The required application for recognition from the Presidency of the Council of Ministers will follow, which, once granted, will enable the Foundation to begin its work.
The Jerónimo Martins Group is ranked as the 47th largest retailer in the world in the Global Powers of Retailing 2023 report published by Deloitte, climbing two positions compared to last year’s edition. According to the list published in the report, the Group is Europe’s 19th largest food retailer and 31st largest worldwide.
The 2023 report identifies the 250 largest retailers around the world and analyses the industry’s financial performance in terms of turnover, growth and profitability in the various countries, business segments and store formats, as well as the main market trends. The reports shows that “the Top 250 retailers achieved a total composite retail growth of 8.5% in FY2021” (fiscal years ending 30 June 2022), amounting to a total of US$5.65 trillion.
As regards Jerónimo Martins, the analysis conducted by Deloitte ranks the Group in 47th position worldwide, up two places from the previous year, with 8.3% growth and consolidated revenue of US$24,697 million.
Top three spots continue to be held by Walmart, followed by Amazon and Costco Wholesale Corporation.
Walmart again takes the top spot, followed by Amazon and Costco Wholesale Corporation. The list of the world’s top 10 retailers continues to be dominated by US companies and sees Chinese retailer JD move up two places, which now ranks 7th.
Deloitte’s Global Powers of Retailing report also reveals that the leading “digital retailers have benefited from a behavioural shift among consumers towards digital shopping”; however, companies in the sector are making an increased effort to attract customers back to physical stores, a behaviour drastically reduced during the pandemic.
It also points out that, gradually, many retailers are investing in sustainability and are entering the pre-owned goods market by introducing marketplaces and buy-back options. This trend has been fuelled by increased consumer awareness regarding sustainability and the eco-conscious shopping habits of younger generations.
João Paulo Domingos, Partner and Deloitte Consumer sector leader, assures that “although consumer behaviour is returning to pre-pandemic levels, there are new trends that are here to stay, not only as regards digital and omnichannel shopping habits, but also a greater concern about sustainable operations and products. At a time when personalisation is a differentiating factor for consumers, retailers will need to use technology and innovation to create an integrated shopping experience tailored to the needs of each consumer.”
Note:
It is recalled that Jerónimo Martins informed the capital market of a 21.5% growth in consolidated sales to €25.4 billion in 2022.
• Jerónimo Martins is the largest Portuguese investor in Colombia
• Ara among the Top 20 biggest companies in the country
• In the first nine months of the year, the chain of neighbourhood stores posted sales of 1.291 billion euros (7% of Group sales) and is expected to close 2022 with more than 13,000 employees
Lisbon, 28 November 2022 – This past Saturday, 26 November, the Jerónimo Martins Group inaugurated its 1,000th Ara store in the city of Cartagena, Colombia. The opening of the store is part of Ara’s expansion strategy in the country, where it already has a presence in three regions. The company expects to close the year with a total of between 230 to 250 new stores, compared to the previous year.
Pedro Leandro, Managing Director of Ara, said that “each store opening for us is another step in our commitment to Colombian families: to become part of the neighbourhood and to be ever closer to people’s homes, bringing quality and variety to their everyday purchases, always at the lowest prices”.
Since early Saturday morning many families from Cartagena were at the entrance of the store waiting for it to open. The doors to the store opened at 10am amidst an atmosphere of celebration and joy that characterises the Colombians and Ara. The first customer had been queuing at the door since 3am to secure their place for the opening of this store, a historic milestone in Ara’s growth in the country.
Ara is a chain of neighbourhood stores with an assortment and store environment tailored to the Colombian consumer. With an average sales area of 350m2, its fundamental pillars are competitive prices, proximity and a quality assortment that covers the essential needs of the average Colombian family, in which its Private Brands and Perishables are of particular note.
This chain of neighbourhood stores partners with over 500 Colombian suppliers and establishes long-term relationships with local suppliers to ensure maximum freshness, boosting the growth of its business partners and fostering local job creation.
In 2011 the Group announced that Colombia would be its new investment destination and, in March 2013, Ara opened its first stores and a distribution centre, in Pereira, in the Coffee-Growing Region. Since then, aggregate investment in the country (capex) has been around 900 million euros. Ara is currently present in three regions (the Coffee-Growing Region, the Caribbean Coast and Bogotá), and will close the year with more than 13,000 employees. The Jerónimo Martins Group is the largest Portuguese investor in Colombia and Ara is among the Top 20 largest companies in the country, in terms of sales and number of employees.
Ara’s support to its surrounding communities began in its first year of activity with the signing of a cooperation agreement with Instituto Colombiano do Bem-estar Familiar (Colombian Institute of Family Welfare) to supply food to children from underprivileged neighbourhoods through “Community Mothers”, women trained and authorised to look after the children of the “bairro” (neighbourhood). By the end of 2013, Ara was providing support for around 1,000 children. In 2021, Ara channelled around 500,000 euros to social support projects and donated more than 220 tonnes of food.
In the first nine months of 2022, Ara invested 89 million euros, opened 86 stores, and recorded a turnover of around €1.3 billion euros, positioning itself as the Group’s third biggest contributor to sales.
The opening of the 1,000th Ara store is another important milestone in a year in which the Jerónimo Martins Group celebrates its 230th anniversary.
The President of the Republic of Colombia, Iván Duque awarded, this morning, in Lisbon, the President of the Jerónimo Martins Group, Pedro Soares dos Santos, with the Order of Boyacá. This is the highest award given by the Government of the Republic of Colombia to soldiers, citizens and foreigners noteworthy for their services to the country, and whose actions have resulted in the benefit of Colombia or humankind. The recognition is due to the services provided to Colombia and the trust placed in the country.
“With his vision of a businessman with purpose, Pedro Soares dos Santos decided, more than ten years ago, to enter our country. Today there are more than 800 stores, thousands of jobs, a production chain, and with a desire to continue to multiply the stores over time”, says Iván Duque.
“I am very honoured to receive this award that recognises the collective work we are building in Colombia and the strength of Jerónimo Martins’ commitment to contribute to the democratisation of quality food in the country. For me personally, it is particularly special to happen this year, when we celebrate the 230th anniversary of Jerónimo Martins. I have a great appreciation for Colombia and Colombians and I feel confident in the progress of the country to which we will continue to contribute. Since 2012 we have invested around 700 million euros in Colombia, created more than 9,500 direct jobs and today we have a commercial relationship with more than 500 Colombian suppliers, mostly SMEs. We will continue working and promoting initiatives that leverage all the Colombian potential and strengthen the industry in the country and the progress of all the territories where we are present”, says Pedro Soares Dos Santos.
The attribution of the Order of Boyocá is determined by the Council of the Order of Boyacá, composed of the President of the Republic, the Ministers of Foreign Affairs and Defense and the Director General of the Protocol of the Chancellery.
The Jerónimo Martins Group opened its first Ara store in Colombia in 2013, and currently operates in more than 820 stores across the country.
Jeronimo Martins Group invests 16.8 million euros in the acquisition of 10.1% of the Andfjord Salmon, Norwegian company for sustainable salmon production. Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF.
“Just a few days before the 2022 United Nations Ocean Conference in Lisbon, we are investing in a promising and truly innovative sustainable business project that is fully aligned with our corporate responsibility priorities. Andfjord Salmon’s project is focused on using efficient technology to produce salmon – a strategic product to our business- with less impact on natural resources, therefore contributing to conserve and sustainably use the ocean, the sea and marine resources. In a challenging backdrop of both high pressure on the ocean stocks and food security, we believe that investing in this innovative and sustainable production will also work for us as a learning curve accelerator in what regards best practices in aquaculture projects” says Pedro Soares dos Santos, Jerónimo Martins Chairman and CEO.
With this investment, done through its agribusiness subsidiary Jerónimo Martins Agro-Alimentar, S.A., Jerónimo Martins Group becomes, with 10.1% of the Company’s shares, one of the largest shareholders in Andfjord Salmon, located at Kvalnes on the island of Andøya on the Arctic Archipelago of Vesterålen, Norway.
“We are delighted to attract such a major industrial investor to Andfjord Salmon. We consider it an advantage to have an owner that possesses extensive competence about international food industry sales, marketing, logistics and distribution. Hopefully we can tap into this know-how when we are ready to bring our salmon to the market,” says Martin Rasmussen, CEO of Andfjord Salmon.
The European procurement company Epic Partners is shocked by the current events in Ukraine. Our thoughts are with all the people directly affected by the acts of war and with all those who have to flee their homeland. For this reason, until further notice, Epic Partners has mutually and jointly decided not to conduct joint negotiations with the Russian retailing company Magnit, which is part of Epic Partners.
The partners EDEKA (Germany), Migros (Switzerland), Jerónimo Martins (Portugal and Poland), ICA (Sweden, Estonia, Latvia and Lithuania), Magnit (Russia) and Picnic (Netherlands, Germany) stand by this decision.
It is important for all partners to emphasize that this decision is not a permanent and one-sided stance against the Russian population. As soon as this dramatic conflict situation is resolved, Epic Partners will reassess this collaboration. We are convinced of the benefits of international trade relations, which bring peace and prosperity to citizens.
The Jerónimo Martins Group is ranked as the 49th largest retailer in the world in the 2022 Global Powers of Retail published by Deloitte, climbing one position compared to last year’s edition. According to the list published in the study, the Group is Europe’s 18th largest food retailer and 32nd largest worldwide.
The 2022 report identifies the 250 largest retailers around the world and analyses the industry’s financial performance in terms of turnover, growth and profitability in the various countries, business segments and store formats. The study shows that “the total retail revenue of the Top 250 companies reached US$ 5.1 trillion in FY2020 (fiscal years closed on 30 June 2021), an increase of 5.2% over FY2019.”
As regards Jerónimo Martins, the analysis conducted by Deloitte shows a change in rank from the previous year, placing the Group in 49th position worldwide, with 3.5% growth and consolidated revenue of US$20,860 billion. Jerónimo Martins is present in three countries (Pingo Doce and Recheio in Portugal, Biedronka and Hebe in Poland, and Ara in Colombia).
Top three spots continue to be held by Walmart, followed by Amazon and Costco Wholesale Corporation.
Walmart (US$559,151 billion) continues to rank #1, followed by Amazon (US$213,573 billion) and Costco Wholesale Corporation (US$166,761 billion). The list of the 10 largest retailers in the world continues to be dominated by companies based in the United States (7), although, and for the first time, during the 2020 fiscal year, a Chinese retailer (JD) entered the Top 10.
The fast-moving consumer goods (FMCG) sector continues to be the largest product sector, accounting for 66.4% of the retail revenue of the Top 250 largest companies.
With 55% of consumers claiming to buy sustainable products or services, Deloitte’s Global Powers of Retail study also shows that retailers are adjusting their supply chains to respond to sustainable growth and responsible consumption trends. Most retailers in the Top 250 have outlined their ESG commitments and are making an effort to promote ESG-related metrics. To address the concerns of customers, such as Millennials and Gen Zs, retailers are placing the sustainability of their brands and products at the heart of their business strategies.
João Paulo Domingos, Partner and Deloitte Consumer sector leader, explains that “although 2021 was a very challenging year due to increased inflation, labour shortages, and supply chain disruptions caused by the pandemic, the retail sector is on a path of growth, with key players able to respond to the most demanding challenges posed by the new reality”.
Note:
It should be remembered that Jerónimo Martins informed the capital market of a growth in consolidated sales of 8.3% to €20,889 million in 2021.
Today is the debut of the Be the Story podcast, created in partnership between radio station Renascença and the Jerónimo Martins Group for a straightforward conversation about sustainability in its various dimensions: food, the environment, helping the community and other areas.
The podcast will feature 10 episodes and will air once a week, on Mondays, on the Be The Story web page and on mainstream platforms, such as Spotify, Apple Podcasts and Google Podcasts.
Every week one of the three hosts of the As Três da Manhã programme, Ana Galvão, Inês Lopes Gonçalves and Joana Marques, will share the mic with a guest to talk about topics like sugar intake, fighting food waste, the use of plastic, biodiversity, and donating food to charities.
In the first episode, Inês Lopes Gonçalves talks about preserving the Mediterranean diet with Pedro Graça, Director of the University of Porto’s Faculty of Nutrition and Food Sciences.
With World Food Day (16 October) just around the corner, the debut episode focuses on one of the world’s healthiest and most sustainable diets, classified as an Intangible Cultural Heritage of Humanity by UNESCO, and which also encourages people to gather around the table.
Next week, on the 18th, the podcast hosted by Ana Galvão will focus on “good and bad plastic” and the guests will be Ana Sofia Ribeiro, Coordinator of the Environmental Awareness, Education and Training Department of the Portuguese League for Nature Protection, and Fernando Ventura, Director of Environmental Efficiency and Innovation Projects at Jerónimo Martins.
The Jerónimo Martins Group’s Be the Story editorial project began with the launch of a website in 2018 to help change behaviours by sharing stories and good examples. Through this partnership with Renascença, the shared stories are given a new voice.
The Finançor Group, through its subsidiary Finançor – Agro – Alimentar, S.A. (Finançor), and the Jerónimo Martins Group, through its distribution companies in Portugal, today signed an agreement to ensure the best assortment and prices in the Azores food sector, under the Pingo Doce and Recheio banners.
This partnership between the two Groups bolsters national coverage of the banners, extending the same attractive and competitive value propositions that made it market leader in mainland Portugal and Madeira to Azorean consumers and to professional operators in the traditional retail sector and HoReCa channel in the Autonomous Region.
Under the agreement, which is still awaiting official approval, Jerónimo Martins will hold a minority share of 20% in Finançor Distribuição Alimentar, S.A. (formerly Marques Comércio a Retalho, S.A.) and Finançor Cash & Carry, S.A. (formerly Marques Comércio por Grosso, S.A.).