Sales
€5,073 M
(+4.5%)
# Stores
489
LFL
+4.0%
(excl. fuel)
EBITDA
€296 M
(+5.1%)
CAPEX
€277 M
Highlights of the Year
- Opening of 40 Comida Fresca restaurants, making it the largest restaurant chain in the country with a total of 237 locations
- Private Brand innovation, with the launch of 217 products and two major campaigns announcing the removal of flavour enhancers and artificial colourings from all products, and the DNA laboratory
- Pingo Doce Children’s Literature Prize now awards published authors and illustrators
Message from the Managing Director
The year 2024 was marked by a demanding environment, combining a drop in food inflation with a rise in costs and an increasing cautious consumer seeking further savings opportunities.
In this context, Pingo Doce posted solid sales growth, reflecting the strong promotional dynamic kept throughout the year and its investment in differentiating its value proposition, enhanced with the implementation of the new store concept focusing on its restaurant and fresh food areas.
The store refurbishment plan continued at full speed, with 64 refurnished stores and the opening of 40 new Comida Fresca restaurants, making it the largest restaurant chain in Portugal in terms of number of locations.
Innovation in the Private Brand also remained a key differentiating factor for Pingo Doce, evident in the launch of 217 products in 2024.
The year was also marked by the important distinction awarded to our Logistics Decarbonisation Project. Pingo Doce was the first company in Portugal and the fourth in Europe to be awarded four stars in the GS1 Portugal Lean & Green initiative, for cutting carbon dioxide emissions by 55%.
All achievements, in the year, would not have been possible without the commitment and dedication of our teams, who every day strive to offer the best products to our customers and deliver a unique shopping experience.
In an increasingly challenging and competitive environment, Pingo Doce will continue to focus on differentiating its service, innovation, quality and promotions to continue earning the trust and loyalty of consumers.
Isabel Ferreira Pinto
CEO Pingo Doce
More information on Pingo Doce’s sustainability initiatives can be found in the “Sustainability” section of this Annual Report.
Performance
The year was marked by the enormous challenge of operating in an economic environment that combined a sharp drop in food inflation, which ceased to contribute to sales growth, with high cost inflation. In 2024, consumers remained cautious, seeking savings opportunities, which resulted in an intensified competitive environment with all operators competing for volume growth, amidst aggressive store expansions, focusing particularly on proximity concepts.
Pingo Doce continued to invest in its price propositioning and in keeping up high promotional activity, meeting the needs and preferences of Portuguese consumers and contributing to a solid sales growth, increased competitiveness and higher volumes. In 2024, sales grew 4.5% to 5.1 billion euros, with an LFL of 4% (excluding fuel).
Net sales
(€ Million)
Keeping up the rapid pace of refurbishment throughout the year, Pingo Doce continued to implement its “All About Food” comida fresca restaurant store concept, emphasising the brand’s differentiation in the meal solutions and perishables categories and offering innovative service solutions valued by customers. The Company opened 40 in-store restaurants this year, now operating a total of 237, making it the largest restaurant chain in the country in terms of number of locations. The comidafresca.pingodoce.pt website was also launched, enabling customers to see the daily menu of the Comida Fresca restaurants nationwide, in addition to placing orders.
Pingo Doce remained committed to differentiation and innovation in its assortment, launching new Private Brand products.
Promotion of the distinctive features of the Private Brand was enhanced with two major communication campaigns: “Se também não adora químicos” (If you also don’t like chemicals) was the slogan for communicating the elimination of flavour enhancers and artificial colouring from all food products, while the “DNA Laboratory” campaign reiterated that Pingo Doce is the only food retail company in Portugal with a Molecular Biology Laboratory, accredited by the Portuguese Accreditation Institute (IPAC – Instituto Português de Acreditação), which tests the DNA of the ingredients in Private Brand products, ensuring their integrity and quality.
Pingo Doce joined forces with Portugal’s iconic pastry shop Versailles to bring a special edition of a sublime “bolo-rei” (traditional Portuguese Christmas cake) to the whole country, sold exclusively in Pingo Doce stores during the holiday season, aimed at innovating and delivering to its customers differentiating and outstanding quality products at the best prices.
The “My Pingo Doce” app remained an important savings tool, offering a series of exclusive and personalised benefits for users. In 2024, Pingo Doce launched several loyalty campaigns to increase end-user engagement through purchases made using the app. At the beginning of the year, 100,000 euros were raffled every week for four weeks through the “Vida Feita” (Settled Life) competition. In September, after the summer holidays, the Company launched the “Subsídio Pingo Doce” (Pingo Doce Subsidy) competition, awarding 1,500 euros a day, every day. The “Natal a Valer” (A Rewarded Christmas) competition was launched at the end of the year, giving customers the chance to win a shopping voucher every day.
The Children’s Literature Prize celebrated its 11th edition with a major innovation. From this edition onwards, the country’s biggest children’s literature prize will now exclusively award original, unpublished works by authors and illustrators who have already published a book.
The year 2024 also saw a renewed commitment to promoting children’s literature, with participation in book fairs in different parts of the country and the installation of ‘Reading Nooks’ (mini libraries with children’s books) in children’s hospitals and inpatient wards across the country.
Pingo Doce was voted Sustainable Retailer of the Year, a special prize awarded under the “A Melhor Loja de Portugal” (The Best Store in Portugal) initiative, promoted by Grande Consumo magazine, which recognises good practices with regard to sustainability and promoting the circular economy.
Pingo Doce’s EBITDA was 296 million euros, up 5.1% year-on-year, with the respective margin standing at 5.8%, in line with previous year, despite strong investment in pricing and cost inflation.
The banner invested 277 million euros in the opening of 10 stores (7 net additions) and in the complete renovation of 64 locations to reflect its All About Food concept, which embodies the Company’s long-term vision for the business, founded on competitive advantages and critical differentiation factors: fresh food, Private Brand and meal solutions.
These refurbishments also focus on sustainability and electric mobility. Pingo Doce ended the year with the largest electric vehicle (EV) charging network in the country, a commitment that meets its sustainable development objectives, contributing to the energy transition and reduction of its carbon footprint, while at the same time providing an important service to its customers, who can quickly and conveniently charge their electric vehicles while they shop.
Awards and recognitions of note
Sustainable Retailer of the Year by the initiative: The Best Store in Portugal.
Master of Diversity, Equity and Inclusion 2024 awarded by Distribuição Hoje magazine.
“My Pingo Doce” app recognised as the “Best Digital-Retail Project” at the ACEPI (Digital Economy Association) Navegantes XXI Awards.
Four stars in the GS1 Portugal Lean & Green initiative, for reducing its carbon dioxide equivalent emissions in logistics operations by 55% between 2018 and 2024.