Annual Report 2025

Consolidated income statement by functions

For the years ended 31 December 2025 and 2024

Consolidated income statement by functions

(€ Million)

 

Notes

 

2025

 

2024

 

4th Quarter
2025

 

4th Quarter
2024

Sales and services rendered

 

3

 

35,991

 

33,464

 

9,457

 

8,700

Cost of sales

 

4

 

(28,557)

 

(26,613)

 

(7,482)

 

(6,915)

Gross profit

 

 

 

7,434

 

6,851

 

1,975

 

1,785

Distribution costs

 

4

 

(5,529)

 

(5,148)

 

(1,457)

 

(1,326)

Administrative costs

 

4

 

(568)

 

(514)

 

(144)

 

(124)

Other operating profits/losses

 

4.1

 

(131)

 

(119)

 

(65)

 

(45)

Operating profit

 

 

 

1,207

 

1,070

 

309

 

289

Net financial costs

 

6

 

(322)

 

(267)

 

(79)

 

(73)

Gains (losses) in joint ventures and associates

 

 

 

(2)

 

(1)

 

(1)

 

(0)

Gains (losses) in other investments

 

 

 

(0)

 

(0)

 

(0)

 

(0)

Profit before taxes

 

 

 

883

 

801

 

228

 

216

Income tax

 

7

 

(225)

 

(195)

 

(63)

 

(55)

Profit before non-controlling interests

 

 

 

658

 

606

 

166

 

161

Attributable to:

 

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

 

 

11

 

7

 

3

 

2

Jerónimo Martins Shareholders

 

 

 

646

 

599

 

163

 

159

Basic and diluted earnings per share – euros

 

17

 

1.0287

 

0.9532

 

0.2591

 

0.2533

To be read with the attached notes to the consolidated financial statements.

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