Annual Report 2025

Consolidated statement of changes in shareholders' equity

For the years ended 31 December 2025 and 2024

Consolidated statement of changes in shareholders’ equity

 

 

Shareholders’ equity attributable to Shareholders of Jerónimo Martins, SGPS, S.A.

 

 

 

 

 

 

 

 

 

 

 

 

Other reserves

 

 

 

 

 

 

 

 

(€ Million)

 

Share capital

 

Share premium

 

Own shares

 

Cash flow hedge

 

Share of other compre­hensive income in associates

 

Currency trans­lation reserves

 

Retained earnings

 

Total

 

Non-con­trolling interests

 

Share­holders’ equity

Balance Sheet as at 1 January 2024

 

629

 

22

 

(6)

 

–

 

–

 

(110)

 

2,278

 

2,814

 

253

 

3,066

Equity changes in 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currency translation differences

 

–

 

–

 

–

 

–

 

–

 

15

 

–

 

15

 

–

 

15

Share of other comprehensive income in associates

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

Change in fair value of cash flow hedging

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

Change in fair value of hedging instruments on foreign operations

 

–

 

–

 

–

 

–

 

–

 

(4)

 

–

 

(4)

 

–

 

(4)

Actuarial deviations of post-employment benefit obligations

 

–

 

–

 

–

 

–

 

–

 

–

 

(1)

 

(1)

 

–

 

(1)

Other comprehensive income

 

–

 

–

 

–

 

–

 

–

 

11

 

(1)

 

10

 

–

 

10

Net profit

 

–

 

–

 

–

 

–

 

–

 

–

 

599

 

599

 

7

 

606

Total comprehensive income

 

–

 

–

 

–

 

–

 

–

 

11

 

598

 

609

 

7

 

616

Dividends

 

–

 

–

 

–

 

–

 

–

 

–

 

(412)

 

(412)

 

(17)

 

(429)

Acquisitions/Disposal of non-controlling interests

 

–

 

–

 

–

 

–

 

–

 

–

 

(5)

 

(5)

 

4

 

(1)

Balance Sheet as at 31 December 2024

 

629

 

22

 

(6)

 

–

 

–

 

(99)

 

2,460

 

3,006

 

247

 

3,253

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet as at 1­ January 2025

 

629

 

22

 

(6)

 

–

 

–

 

(99)

 

2,460

 

3,006

 

247

 

3,253

Equity changes in 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currency translation differences

 

–

 

–

 

–

 

–

 

–

 

13

 

–

 

13

 

–

 

13

Share of other comprehensive income in associates

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

(0)

 

–

 

–

Change in fair value of cash flow hedging

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

(0)

 

–

 

–

Change in fair value of hedging instruments on foreign operations

 

–

 

–

 

–

 

–

 

–

 

(2)

 

–

 

(2)

 

–

 

(2)

Actuarial deviations of post-employment benefit obligations

 

–

 

–

 

–

 

–

 

–

 

–

 

(1)

 

(1)

 

–

 

(1)

Other comprehensive income

 

–

 

–

 

–

 

–

 

–

 

10

 

(1)

 

9

 

(0)

 

9

Net profit

 

–

 

–

 

–

 

–

 

–

 

–

 

646

 

646

 

11

 

658

Total comprehensive income

 

–

 

–

 

–

 

–

 

–

 

10

 

646

 

656

 

11

 

667

Dividends (note 11)

 

–

 

–

 

–

 

–

 

–

 

–

 

(371)

 

(371)

 

(17)

 

(388)

Acquisitions/Disposal of non-controlling interests

 

–

 

–

 

–

 

–

 

–

 

–

 

(1)

 

(1)

 

(2)

 

(3)

Balance Sheet as at 31 December 2025

 

629

 

22

 

(6)

 

(0)

 

–

 

(89)

 

2,734

 

3,291

 

238

 

3,529

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

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