Annual Report 2025

25. Subsidiaries

The direct investments owned by JMH, as at 31 December 2025, are as follows:

Direct investments owned

Company

 

Notes

 

Head
office

 

% Owned

 

Stake held
directly

 

Total
assets

 

Shareholder’s
equity

 

Net
profit/loss

INVESTMENTS IN SUBSIDIARIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Desimo, Lda.

 

a)

 

Lisbon

 

100.00

 

50

 

863

 

862

 

(3)

Jerónimo Martins – Serviços, S.A.

 

a)

 

Lisbon

 

100.00

 

50

 

23,717

 

2,903

 

287

Jerónimo Martins Inovação, S.A.

 

a)

 

Lisbon

 

100.00

 

50

 

50

 

49

 

0

Trade Wings, S.A.

 

a)

 

Lisbon

 

100.00

 

1,000

 

66,857

 

24,375

 

(6,448)

Larantigo – Sociedade de Construções, S.A.

 

a)

 

Lisbon

 

70.00

 

1,750

 

23,794

 

23,645

 

(30)

Warta – Retail & Services Investments B.V.

 

a)

 

Amsterdam

 

100.00

 

18

 

1,552,201

 

1,548,700

 

606,740

Tagus – Retail & Services Investments B.V.

 

a)

 

Amsterdam

 

100.00

 

18

 

684,854

 

684,835

 

39,452

New World Investments B.V.

 

a)

 

Amsterdam

 

100.00

 

18

 

1,173,823

 

1,173,804

 

(467)

Origins – Agro Business Investments B.V.

 

a)

 

Amsterdam

 

100.00

 

18

 

562,815

 

562,808

 

(27)

Jeronimo Martins Slovensko, s. r. o.

 

a)

 

Bratislava

 

10.00

 

100

 

87,044

 

71,544

 

(27,857)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INVESTMENTS IN ASSOCIATES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pure Planet, S.A.

 

b)

 

Viseu

 

33.33

 

50

 

b)

 

b)

 

b)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER FINANCIAL INVESTMENTS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Epic Partners, S.A.

 

b)

 

Geneve

 

5.33

 

160

 

b)

 

b)

 

b)

a)

For the purposes of the article 486, paragraph 3, of the Portuguese Commercial Companies Code, we declare that we hold the control of the companies indicated.

b)

Information not available.

In October 2025 JMH acquired a financial investment of 33.33% in company Pure Planet, S.A..

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