JM Colombia business 20% of total sales

 In Companies, Food distribution, News

Portuguese supermarket and food distribution giant Jerónimo Martins says that its business in Colombia should be worth 20% of its total business sales within a decade.

The company currently operates the Ara supermarket chain nation-wide in Colombia that represents around 8% of its revenues. However, according to a note sent to the Portuguese stock market commission CMVM, by 2033 that will have risen to 20%.
Jerónimo Martins says in the communiqué that Are is one of the 20 largest companies in Colombia both in terms of revenues and number of staff.
In 2023 he supermarket chain should achieve 1,300 stores, 17 distribution centres, and 14,500 staff — many more than figures registered in 2013 – 21 stores, one logistics centre, and 466 staff.
The company says its goal for the next 10 years is to establish between 3-4,000 stores, including franchises. This year, Jerónimo Martins plans to open 230 Ara stores in Colombia.
In H1 of 2023 Ara posted €1.1Bn in sales, a 31.6% like-for-like increase, and a EBITDA of €18 million, an absolute fall of €26 million.