Food Retailer Biedronka Eyes Carrefour Assets In Poland

French media reported in September that Carrefour might sell its Polish operations and had hired JP Morgan to advise on a potential sale. The retailer unveiled a plan last month to boost profits and market share in France, Spain and Brazil.

Biedronka CEO Luis Araujo said, “We would like to be a solution for many of Carrefour’s assets”, ESM Magazine cites.

“We would be good partners for them (Carrefour franchisees), and it would be positive for the country and for Polish consumers,” he said at a Jerónimo Martins earnings press conference.

Jerónimo Martins

Jerónimo Martins reported a 2.3% rise in fourth-quarter net profit, driven by higher sales and margins at Biedronka, but said rising geopolitical tensions had made the outlook for energy prices and food inflation unpredictable.

The group booked a net consolidated profit of €163 million ($187.48 million), while net sales rose 8.7% to €9.46 billion.

Overall EBITDA margin increased to 6.9% in December from 6.7% a year earlier, with the margin in Poland rising to 7.9% from 7.7% and in Portugal to 6.0% from 5.8%.

Jerónimo Martins CEO Pedro Soares dos Santos said maintaining EBITDA margins in 2026 would be extremely challenging due to heightened geopolitical risks following the recent war in Iran.

He said companies have absorbed higher fuel costs so far without passing them on to consumers but would need to reassess from the end of the month, given the uncertainty over how long the war will last.

“In Poland we are seeing significant deflation, while in Portugal inflation is virtually nonexistent,” he said.