COMPANY PROFILE -Jeronimo Martins
Business Sector :Retail Chain and Food Distribution
Operating Geography :Portugal, Poland and Columbia
About Jeronimo Martins :
Jeronimo Martins is a Portuguese corporate group that operates in Food Distribution and specialized retail. The company is headquartered in Lisbon, Portugal and it primarily engages in the manufacture, distribution and selling of food and various consumer goods products. Jeronimo Martins operates through five different segments: Portugal Retail, Portugal Cash & Carry, Poland Retail, Portugal Manufacturing and Others. Additionally, the company operates drugstores under the Hebe banner and numerous pharmacies under the Apteka Na Zdrowie brand name. Jeronimo Martins employs a workforce of 1,15,428 people across all of its locations as of 2020. The company was founded by Jeronimo Martins in 1792. Jeronimo Martins operates within the framework of responsible business management and focuses on satisfying the needs and aspirations of its shareholders and their corresponding interests in short, medium and long terms, consequently contributing towards the development of its regions in a sustainable manner. The company sends 84.8% of waste generated by their Group for recovery and promotes recycling by placing 12,175 recycling bins in Group stores. Jeronimo Martin’s rise to 50th in the “Global Powers of Retailing 2020”, the best place ever obtained in Deloitte’s annual study, which lists the 250 largest retailers in the world - has been its greatest accomplishment.
Jeronimo Martin’s unique selling proposition or USP lies in being the leader in the food distribution sector in Portugal. It ranks 33 among the food retailers globally and if only Europe is considered, it ranks 16th. Jeronimo Martin’s mission statement reads, “To satisfy the legitimate interests of Shareholders through a strategy focused on value creation and sustainable development.”
Jeronimo Martins Revenue :
€18638 billion- FY ending 31st December 2019 (y-o-y growth 7.5%)
€17337 million - FY ending 31st December 2018
Competitive Analysis of Jeronimo Martins
The SWOT analysis of Jeronimo Martins is presented below in a matrix followed by the detailed analysis report:
Strengths | Weaknesses |
1. Leading food distribution chain in Portugal
2. Jeronimo Martins showed resilience amid Covid due to potential of Biedronka
3. Rapid expansion through store launches and refurbishing outlets in existing markets
4. Over 2 centuries old legacy business of food distribution
| 1. High dependence on one brand reflecting for lion’s share of the revenue
2. Poor performance in Columbia
3. Lack of hedging initiative of currencies amid volatile global economy
4. Low margins and high liabilities makes the balance sheet look weak
|
Opportunities | Threats |
1. Diversification of business in processed food industry
2. Appealing younger consumers by boosting automation and e-commerce in business
| 1. High fluctuation of Columbian Peso compared to Euro
2. Several lawsuits may cost dearly to the company
3. High competition in the retail segment
4. Uncertainty over Brexit looming large
|
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Detailed SWOT Analysis of Jeronimo Martins
Strength
1. Leading food distribution chain in Portugal: Jeronimo Martins Group (JMG) operates majorly through two brands in Portugal, Pingo Doce and Recheio. JMG is the largest food distribution and consumer durables chain in Portugal. Pingo Doce operates in supermarkets segment with 441 stores and Recheio has 42 stores and platforms, both holding leadership positions in their segments. Pingo Dece also operates restaurants in 36 supermarkets with Take Away counters. The banner also has drugstore, clothing and shoe brands, namely, Bem-Ester, Code and Spot. Through Jeronimo Martin's Agro-Alimentor, food products derived from dairy products, livestock farming and aquaculture are provided. It leverages the group’s position in Portuguese market as both producer and supply chain service provider.
2. Jeronimo Martini showed resilience amid Covid due to potential of Biedronka: JMG has outperformed market expectations even during pandemic. Covid-19 brought the economy and public movement to a gruesome halt with closures of supermarkets. The major part of services of JMG include essential items like food and household items but there was a cardinal concern of supply chain disruption and shortage of labourers due to the lockdown. Even in such demanding situations, the group showed resilience in its business through e-commerce and home deliveries especially due to it retail chain banner, Biedronka, the largest supermarket chain in Poland operating 3002 stores as of early 2020. Biedronka alone provided profit to the group, although other banners could not perform amid pandemic. With regular contribution in-group revenue above 60%, sales of Biedronka grew by 7.8% y-o-y to €6536 million in half yearly results of 2020. The group's sales grew by 4.6% to €9317 million in H1 2020 with EBITDA margin of 4.7% and net profit margin of 1.4%, which was worth €132 million.
The remaining section of “Strength” is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threats
This section is available only in the 'Complete Report' on purchase.
The PESTLE / PESTEL analysis for Jeronimo Martins is presented below in a table followed by the detailed analysis report.
Political | Economical |
1. Sunday trading ban in Poland and its impact
2. Growing tensions in Venezuela triggering growth of the unorganised sector in Columbia
3. Polish government boosting consumption through benevolent measures
4. Growing political and social unrests in Latam thwarts business growth
| 1. Changes in the retail chain in Poland
2. Higher consumption in Poland leading to growth of Biedronka and Hebe
3. Europe to enter in deep recession amid Covid-19
|
Social | Technological |
1. Trend of promotional discounts in food distribution
2. Seasonal and regional theme based campaigns to boost sales
3. Covid-19 compelling Europeans to change food habits
| 1. Introducing self check outs to suit the swift urban life style
2. Digital transformation of food distribution business
|
Legal | Environmental |
1. Compliance of Portuguese Commercial Companies Code to provide additional information
2. Antitrust accusations may harm the brand image
| 1. Inaugurated the first eco friendly outlet in Warsaw
2. Starting home delivery of products using eco friendly transportation
|
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Detailed Pestle Analysis of Jeronimo Martins
Political
1. Sunday trading ban in Poland and its impact: Poland imposed Sunday Trading Bans in 2018. It restricted business on 2 monthly Sundays in 2018, 3 monthly Sundays in 2019 and all Sundays in 2020, except Sundays before festivals. It was done to provide quality family time to the working class of Poland, which has witnessed the highest working hours in Europe. It also promotes traditional mom and pop shops as they are exempted from the law along with shops in airport, railways stations and other emergency services. The law boosts usage of e-commerce, a direct threat to offline retail chain. The law puts a stress on store operaters to operate for longer hours on Fridays and Saturdays with heavy discounts to attract more buyers. JMG operates through the banner of Biedronka in food distribution retail and Hebe in health and beauty sector retail in Poland. Biedronka is outpacing the bank's affect by heavy discounts and promotional discounts through 'Everyday Low' campaigns but Hebe suffered due to heavier discounts in low margin products. To mitigate the effect, Hebe started the online retail channel somewhere mid 2019. The ban has pushed retail chains towards digital transformation and transformation in business model.
2. Growing tensions in Venezuela triggering growth of the unorganised sector in Columbia: Recently, Latin America has seen drastic changes in the political scenario. JMG has business interest in Columbia, one of the most stable states of Latin America. The highest disruption has occured in Venezuela. In Venezuela, the opposition leader annexed the government without public mandate and raised political tensions across the nation. Venezuela's economy has been deteriorating since then and many Venezuelans fled from their homeland to Columbia in 2019. Columbian government openly embraced the refugees. This has raised the unemployment in the Columbia but the private consumption increased. It also increased the dominance of unorganised sector in various sectors, which also include food distribution. This could be a direct threat to JMG. JMG operates through the banner, Ara in Columbia. Ara has been a loss making enterprise since a long time. With insurgence of unorganised sector, competition would surge and profitability would trail.
The remaining section of “Political” is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Competitors :
- Sonae, Auchan
- REWE Group
- Dalian Wanda
- Egis
- Unibail
- GPT Group
- Simon
- Scentre Group
- JB HI-FI
Major Brands :
- Biedronka
- Hebe
- Pingo Doce
- Recheio
- Ara
- Jeronymo
- Hussel
Jeronimo Martins SGPS SWOT & PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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Jeronimo Martins Covid-19 Impact Analysis |
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Jeronimo Martins BCG Analysis |
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References used in Jeronimo Martins SWOT & PESTLE Analysis Report
1. 2019 Annual Report Jeronimo Martins -
https://www.jeronimomartins.com/wp-content/uploads/01-DOCUMENTS/Investor/Reports/AnnualReportJeronimoMartins2019.pdf
2. Europe faces deep recession and UK will shrink by 10%, says EC -
https://www.theguardian.com/business/2020/jul/07/europe-recession-uk-ec-eu-recovery-plan
3. Europeans Are Changing Dietary Habits To Address Covid-19 -
https://industryeurope.com/sectors/food-beverage/europeans-are-changing-dietary-habits-to-address-covid-19/
4. Jerónimo Martins SGPS (ELI:JMT) Seems To Use Debt Quite Sensibly -
https://simplywall.st/news/jeronimo-martins-sgps-elijmt-seems-to-use-debt-quite-sensibly/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Jeronimo Martins SWOT and PESTLE analysis has been conducted by Tej Narayan Shaw and reviewed by senior analysts from Barakaat Consulting.
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