{"id":4837,"date":"2022-08-31T21:23:16","date_gmt":"2022-08-31T21:23:16","guid":{"rendered":"https:\/\/www.guiadoemitente.pt\/business-case-greenvolt-2\/"},"modified":"2022-09-09T15:46:45","modified_gmt":"2022-09-09T15:46:45","slug":"business-case-jeronimo-martins","status":"publish","type":"page","link":"https:\/\/issuers-guide.buzzvel.work\/en\/business-case-jeronimo-martins\/","title":{"rendered":"Business Case &#8211; Jer\u00f3nimo Martins"},"content":{"rendered":"\n<h1 class=\"has-amarelo-2-color has-text-color wp-block-heading\">Jer\u00f3nimo Martins SGPS, S.A.<\/h1>\n\n\n\n<p><\/p>\n\n\n\n<p>Founded in 1792, Jer\u00f3nimo Martins is a Portugal-based international Group operating in the Food Distribution (98% of global sales) and Specialised Retail sectors. The Group currently concentrates its main operations in three countries: Portugal, Poland and Colombia.<\/p>\n\n\n\n<p><\/p>\n\n\n<style>.wp-block-kadence-spacer.kt-block-spacer-_8c5dc4-e6 .kt-block-spacer{height:40px;}.wp-block-kadence-spacer.kt-block-spacer-_8c5dc4-e6 .kt-divider{border-top-width:1px;height:1px;border-top-color:#eee;width:80%;border-top-style:solid;}<\/style>\n<div class=\"wp-block-kadence-spacer aligncenter kt-block-spacer-_8c5dc4-e6\"><div class=\"kt-block-spacer kt-block-spacer-halign-center\"><\/div><\/div>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading_0c9ed4-7e, .wp-block-kadence-advancedheading.kt-adv-heading_0c9ed4-7e[data-kb-block=\"kb-adv-heading_0c9ed4-7e\"]{font-size:18px;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading_0c9ed4-7e mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_0c9ed4-7e[data-kb-block=\"kb-adv-heading_0c9ed4-7e\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_0c9ed4-7e img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_0c9ed4-7e[data-kb-block=\"kb-adv-heading_0c9ed4-7e\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h4 class=\"kt-adv-heading_0c9ed4-7e wp-block-kadence-advancedheading has-azul-3-color has-text-color\" data-kb-block=\"kb-adv-heading_0c9ed4-7e\">Capital Markets<\/h4>\n\n\n<style>#kt-layout-id_e58278-33 > .kt-row-column-wrap{align-content:start;}:where(#kt-layout-id_e58278-33 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}#kt-layout-id_e58278-33 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:var( --global-kb-row-default-top, 25px );padding-bottom:var( --global-kb-row-default-bottom, 25px );padding-top:0px;padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}#kt-layout-id_e58278-33 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){#kt-layout-id_e58278-33 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){#kt-layout-id_e58278-33 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style>\n<div class=\"wp-block-kadence-rowlayout alignnone\"><div id=\"kt-layout-id_e58278-33\" class=\"kt-row-layout-inner kt-layout-id_e58278-33\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-gutter-default kt-v-gutter-default kt-row-valign-top kt-row-layout-equal kt-tab-layout-inherit kt-m-colapse-left-to-right kt-mobile-layout-row\"><style>.kadence-column_652baa-64 > .kt-inside-inner-col{min-height:0px;border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;}.kadence-column_652baa-64 > .kt-inside-inner-col,.kadence-column_652baa-64 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_652baa-64 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_652baa-64 > .kt-inside-inner-col{flex-direction:column;}.kadence-column_652baa-64 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_652baa-64 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_652baa-64{position:relative;}@media all and (max-width: 1024px){.kadence-column_652baa-64 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_652baa-64 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_652baa-64\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading_420547-8b, .wp-block-kadence-advancedheading.kt-adv-heading_420547-8b[data-kb-block=\"kb-adv-heading_420547-8b\"]{line-height:5px;font-weight:bold;font-style:normal;text-transform:uppercase;color:#10154B;}.wp-block-kadence-advancedheading.kt-adv-heading_420547-8b mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_420547-8b[data-kb-block=\"kb-adv-heading_420547-8b\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_420547-8b img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_420547-8b[data-kb-block=\"kb-adv-heading_420547-8b\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<p class=\"kt-adv-heading_420547-8b wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading_420547-8b\">1989<\/p>\n<\/div><\/div>\n<\/div><\/div><\/div>\n\n\n<style>#kt-layout-id_bbddb8-55 > .kt-row-column-wrap{align-content:start;}:where(#kt-layout-id_bbddb8-55 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}#kt-layout-id_bbddb8-55 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:var( --global-kb-row-default-top, 25px );padding-bottom:var( --global-kb-row-default-bottom, 25px );padding-top:1px;padding-bottom:10px;grid-template-columns:minmax(0, 1fr);}#kt-layout-id_bbddb8-55 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){#kt-layout-id_bbddb8-55 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){#kt-layout-id_bbddb8-55 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style>\n<div class=\"wp-block-kadence-rowlayout alignnone\"><div id=\"kt-layout-id_bbddb8-55\" class=\"kt-row-layout-inner kt-layout-id_bbddb8-55\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-gutter-default kt-v-gutter-default kt-row-valign-top kt-row-layout-equal kt-tab-layout-inherit kt-m-colapse-left-to-right kt-mobile-layout-row\"><style>.kadence-column_8b1f28-46 > .kt-inside-inner-col{padding-top:10px;padding-bottom:2px;padding-left:10px;padding-right:5px;}.kadence-column_8b1f28-46 > .kt-inside-inner-col{border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;}.kadence-column_8b1f28-46 > .kt-inside-inner-col,.kadence-column_8b1f28-46 > .kt-inside-inner-col:before{border-top-left-radius:16px;border-top-right-radius:16px;border-bottom-right-radius:16px;border-bottom-left-radius:16px;}.kadence-column_8b1f28-46 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_8b1f28-46 > .kt-inside-inner-col{flex-direction:column;}.kadence-column_8b1f28-46 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_8b1f28-46 > .kt-inside-inner-col{background-color:rgba(241, 241, 241, 0.5);}.kadence-column_8b1f28-46:hover > .kt-inside-inner-col{background-color:rgba(241,241,241,0.5);background-image:none;}.kadence-column_8b1f28-46 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_8b1f28-46{position:relative;}@media all and (max-width: 1024px){.kadence-column_8b1f28-46 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_8b1f28-46 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_8b1f28-46\"><div class=\"kt-inside-inner-col\">\n<p><strong>IPO<\/strong><\/p>\n\n\n\n<p>Jer\u00f3nimo Martins was listed on the Lisbon Stock Exchange on November 1989. A few months before, an IPO of 15% of the Company&#8217;s Capital Stock was held at an announced share price of \u20ac16.5.<\/p>\n<\/div><\/div>\n<\/div><\/div><\/div>\n\n\n<style>.kt-svg-icons_57e020-b0 .kt-svg-item-0 .kb-svg-icon-wrap{color:#1F266A;font-size:25px;}.kt-svg-icons_57e020-b0 .kt-svg-item-0:hover .kb-svg-icon-wrap{color:#E5A017;}.wp-block-kadence-icon.kt-svg-icons_57e020-b0{justify-content:center;}<\/style>\n<div class=\"wp-block-kadence-icon kt-svg-icons kt-svg-icons_57e020-b0 alignnone\" style=\"text-align:center\"><div class=\"kt-svg-style-default kt-svg-icon-wrap kt-svg-item-0\"><div style=\"display:inline-flex;justify-content:center;align-items:center;color:#1F266A\" class=\"kt-svg-icon kt-svg-icon-fe_arrowDownCircle\"><svg style=\"display:inline-block;vertical-align:middle\" viewBox=\"0 0 24 24\" height=\"25\" width=\"25\" fill=\"none\" stroke=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" aria-hidden=\"true\"><circle cx=\"12\" cy=\"12\" r=\"10\"><\/circle><polyline points=\"8 12 12 16 16 12\"><\/polyline><line x1=\"12\" y1=\"8\" x2=\"12\" y2=\"16\"><\/line><\/svg><\/div><\/div><\/div>\n\n\n<style>#kt-layout-id_6d057e-bf > .kt-row-column-wrap{align-content:start;}:where(#kt-layout-id_6d057e-bf > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}#kt-layout-id_6d057e-bf > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:var( --global-kb-row-default-top, 25px );padding-bottom:var( --global-kb-row-default-bottom, 25px );padding-top:0px;padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}#kt-layout-id_6d057e-bf > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){#kt-layout-id_6d057e-bf > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){#kt-layout-id_6d057e-bf > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style>\n<div class=\"wp-block-kadence-rowlayout alignnone\"><div id=\"kt-layout-id_6d057e-bf\" class=\"kt-row-layout-inner kt-layout-id_6d057e-bf\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-gutter-default kt-v-gutter-default kt-row-valign-top kt-row-layout-equal kt-tab-layout-inherit kt-m-colapse-left-to-right kt-mobile-layout-row\"><style>.kadence-column_0108de-09 > .kt-inside-inner-col{min-height:0px;border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;}.kadence-column_0108de-09 > .kt-inside-inner-col,.kadence-column_0108de-09 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_0108de-09 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_0108de-09 > .kt-inside-inner-col{flex-direction:column;}.kadence-column_0108de-09 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_0108de-09 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_0108de-09{position:relative;}@media all and (max-width: 1024px){.kadence-column_0108de-09 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_0108de-09 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_0108de-09\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading_133928-53, .wp-block-kadence-advancedheading.kt-adv-heading_133928-53[data-kb-block=\"kb-adv-heading_133928-53\"]{line-height:5px;font-weight:bold;font-style:normal;text-transform:uppercase;color:#10154B;}.wp-block-kadence-advancedheading.kt-adv-heading_133928-53 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_133928-53[data-kb-block=\"kb-adv-heading_133928-53\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_133928-53 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_133928-53[data-kb-block=\"kb-adv-heading_133928-53\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<p class=\"kt-adv-heading_133928-53 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading_133928-53\">30 years upon THE IPO<\/p>\n<\/div><\/div>\n<\/div><\/div><\/div>\n\n\n<style>#kt-layout-id_b0d84e-a1 > .kt-row-column-wrap{align-content:start;}:where(#kt-layout-id_b0d84e-a1 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}#kt-layout-id_b0d84e-a1 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:var( --global-kb-row-default-top, 25px );padding-bottom:var( --global-kb-row-default-bottom, 25px );padding-top:1px;padding-bottom:10px;grid-template-columns:minmax(0, 1fr);}#kt-layout-id_b0d84e-a1 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){#kt-layout-id_b0d84e-a1 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){#kt-layout-id_b0d84e-a1 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style>\n<div class=\"wp-block-kadence-rowlayout alignnone\"><div id=\"kt-layout-id_b0d84e-a1\" class=\"kt-row-layout-inner kt-layout-id_b0d84e-a1\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-gutter-default kt-v-gutter-default kt-row-valign-top kt-row-layout-equal kt-tab-layout-inherit kt-m-colapse-left-to-right kt-mobile-layout-row\"><style>.kadence-column_5f5de3-2e > .kt-inside-inner-col{padding-top:10px;padding-bottom:2px;padding-left:10px;padding-right:5px;}.kadence-column_5f5de3-2e > .kt-inside-inner-col{border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;}.kadence-column_5f5de3-2e > .kt-inside-inner-col,.kadence-column_5f5de3-2e > .kt-inside-inner-col:before{border-top-left-radius:16px;border-top-right-radius:16px;border-bottom-right-radius:16px;border-bottom-left-radius:16px;}.kadence-column_5f5de3-2e > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_5f5de3-2e > .kt-inside-inner-col{flex-direction:column;}.kadence-column_5f5de3-2e > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_5f5de3-2e > .kt-inside-inner-col{background-color:rgba(241, 241, 241, 0.5);}.kadence-column_5f5de3-2e:hover > .kt-inside-inner-col{background-color:rgba(241,241,241,0.5);background-image:none;}.kadence-column_5f5de3-2e > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_5f5de3-2e{position:relative;}@media all and (max-width: 1024px){.kadence-column_5f5de3-2e > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_5f5de3-2e > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_5f5de3-2e\"><div class=\"kt-inside-inner-col\">\n<p><strong>Capital increases and follow-on offerings<\/strong><\/p>\n\n\n\n<p>Jer\u00f3nimo Martins has made intensive use of the capital markets, having carried out 19 share capital increases over the 30 years upon its IPO, especially during the 1<sup>st<\/sup> phases of expansion in Portugal and of internationalization, reaching a free float of around 30% (44% by 2021 year-end).<\/p>\n<\/div><\/div>\n<\/div><\/div><\/div>\n\n\n<style>.wp-block-kadence-spacer.kt-block-spacer-_121e5d-f4 .kt-block-spacer{height:40px;}.wp-block-kadence-spacer.kt-block-spacer-_121e5d-f4 .kt-divider{border-top-width:1px;height:1px;border-top-color:#eee;width:80%;border-top-style:solid;}<\/style>\n<div class=\"wp-block-kadence-spacer aligncenter kt-block-spacer-_121e5d-f4\"><div class=\"kt-block-spacer kt-block-spacer-halign-center\"><\/div><\/div>\n\n\n<style>#kt-layout-id_005d1e-43 > .kt-row-column-wrap{align-content:start;}:where(#kt-layout-id_005d1e-43 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}#kt-layout-id_005d1e-43 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:var( --global-kb-row-default-top, 25px );padding-bottom:var( --global-kb-row-default-bottom, 25px );padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);grid-template-columns:minmax(0, 1fr);}#kt-layout-id_005d1e-43 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){#kt-layout-id_005d1e-43 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){#kt-layout-id_005d1e-43 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style>\n<div class=\"wp-block-kadence-rowlayout alignnone\"><div id=\"kt-layout-id_005d1e-43\" class=\"kt-row-layout-inner kt-layout-id_005d1e-43\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-gutter-default kt-v-gutter-default kt-row-valign-top kt-row-layout-equal kt-tab-layout-inherit kt-m-colapse-left-to-right kt-mobile-layout-row\"><style>.kadence-column_0788af-54 > .kt-inside-inner-col{border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;}.kadence-column_0788af-54 > .kt-inside-inner-col,.kadence-column_0788af-54 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_0788af-54 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_0788af-54 > .kt-inside-inner-col{flex-direction:column;}.kadence-column_0788af-54 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_0788af-54 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_0788af-54{position:relative;}@media all and (max-width: 1024px){.kadence-column_0788af-54 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_0788af-54 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_0788af-54\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading_2df533-7b, .wp-block-kadence-advancedheading.kt-adv-heading_2df533-7b[data-kb-block=\"kb-adv-heading_2df533-7b\"]{font-size:18px;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading_2df533-7b mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_2df533-7b[data-kb-block=\"kb-adv-heading_2df533-7b\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_2df533-7b img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_2df533-7b[data-kb-block=\"kb-adv-heading_2df533-7b\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h4 class=\"kt-adv-heading_2df533-7b wp-block-kadence-advancedheading has-azul-2-color has-text-color\" data-kb-block=\"kb-adv-heading_2df533-7b\">Main reasons for admission to the stock exchange<\/h4>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items_ded67a-94:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items_ded67a-94 ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items_ded67a-94 ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items_ded67a-94 ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items_ded67a-94 ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}.kt-svg-icon-list-items_ded67a-94 ul.kt-svg-icon-list .kt-svg-icon-list-level-1 .kt-svg-icon-list-single svg{font-size:20px;}.kt-svg-icon-list-items_ded67a-94 ul.kt-svg-icon-list .kt-svg-icon-list-level-2 .kt-svg-icon-list-single svg{font-size:20px;}.kt-svg-icon-list-items_ded67a-94 ul.kt-svg-icon-list .kt-svg-icon-list-level-3 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items_ded67a-94 kt-svg-icon-list-columns-1 alignnone kt-list-icon-aligntop\"><ul class=\"kt-svg-icon-list\"><li class=\"kt-svg-icon-list-style-default kt-svg-icon-list-item-wrap kt-svg-icon-list-item-0 kt-svg-icon-list-level-0\"><div style=\"display:inline-flex;justify-content:center;align-items:center\" class=\"kt-svg-icon-list-single kt-svg-icon-list-single-fe_checkCircle\"><svg style=\"display:inline-block;vertical-align:middle\" viewBox=\"0 0 24 24\" height=\"20\" width=\"20\" fill=\"none\" stroke=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" aria-hidden=\"true\"><path d=\"M22 11.08V12a10 10 0 1 1-5.93-9.14\"><\/path><polyline points=\"22 4 12 14.01 9 11.01\"><\/polyline><\/svg><\/div><span class=\"kt-svg-icon-list-text\">Allow the diversification of the financing sources and decrease the reliance on bank borrowing<\/span><\/li><li class=\"kt-svg-icon-list-style-default kt-svg-icon-list-item-wrap kt-svg-icon-list-item-1 kt-svg-icon-list-level-0\"><div style=\"display:inline-flex;justify-content:center;align-items:center\" class=\"kt-svg-icon-list-single kt-svg-icon-list-single-fe_checkCircle\"><svg style=\"display:inline-block;vertical-align:middle\" viewBox=\"0 0 24 24\" height=\"20\" width=\"20\" fill=\"none\" stroke=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" aria-hidden=\"true\"><path d=\"M22 11.08V12a10 10 0 1 1-5.93-9.14\"><\/path><polyline points=\"22 4 12 14.01 9 11.01\"><\/polyline><\/svg><\/div><span class=\"kt-svg-icon-list-text\">Allow to start mapping a strategy for international expansion that was to bear fruit in the move into the Polish market (which has been the Group\u2019s largest geography and the principal driving force for growth and profitability)<\/span><\/li><li class=\"kt-svg-icon-list-style-default kt-svg-icon-list-item-wrap kt-svg-icon-list-item-2 kt-svg-icon-list-level-0\"><div style=\"display:inline-flex;justify-content:center;align-items:center\" class=\"kt-svg-icon-list-single kt-svg-icon-list-single-fe_checkCircle\"><svg style=\"display:inline-block;vertical-align:middle\" viewBox=\"0 0 24 24\" height=\"20\" width=\"20\" fill=\"none\" stroke=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" aria-hidden=\"true\"><path d=\"M22 11.08V12a10 10 0 1 1-5.93-9.14\"><\/path><polyline points=\"22 4 12 14.01 9 11.01\"><\/polyline><\/svg><\/div><span class=\"kt-svg-icon-list-text\">Made possible the series of acquisitions and process of organic growth through which gradually built the Group\u2019s leadership position in the Food Retail sector in Portugal<\/span><\/li><li class=\"kt-svg-icon-list-style-default kt-svg-icon-list-item-wrap kt-svg-icon-list-item-3 kt-svg-icon-list-level-0\"><div style=\"display:inline-flex;justify-content:center;align-items:center\" class=\"kt-svg-icon-list-single kt-svg-icon-list-single-fe_checkCircle\"><svg style=\"display:inline-block;vertical-align:middle\" viewBox=\"0 0 24 24\" height=\"20\" width=\"20\" fill=\"none\" stroke=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" aria-hidden=\"true\"><path d=\"M22 11.08V12a10 10 0 1 1-5.93-9.14\"><\/path><polyline points=\"22 4 12 14.01 9 11.01\"><\/polyline><\/svg><\/div><span class=\"kt-svg-icon-list-text\">Admission to the stock exchange required a commitment to transparency and respect, increased discipline and a culture of dialogue and accountability to all stakeholders<\/span><\/li><\/ul><\/div>\n<\/div><\/div>\n<\/div><\/div><\/div>\n\n\n<style>#kt-layout-id_eb92fa-27 > .kt-row-column-wrap{align-content:start;}:where(#kt-layout-id_eb92fa-27 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}#kt-layout-id_eb92fa-27 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:var( --global-kb-row-default-top, 25px );padding-bottom:var( --global-kb-row-default-bottom, 25px );padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);grid-template-columns:minmax(0, 1fr);}#kt-layout-id_eb92fa-27 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){#kt-layout-id_eb92fa-27 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){#kt-layout-id_eb92fa-27 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style>\n<div class=\"wp-block-kadence-rowlayout alignnone\"><div id=\"kt-layout-id_eb92fa-27\" class=\"kt-row-layout-inner kt-layout-id_eb92fa-27\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-gutter-default kt-v-gutter-default kt-row-valign-top kt-row-layout-equal kt-tab-layout-inherit kt-m-colapse-left-to-right kt-mobile-layout-row\"><style>.kadence-column_e3168d-6c > .kt-inside-inner-col{padding-left:14px;}.kadence-column_e3168d-6c > .kt-inside-inner-col{border-color:#1F266A;border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:7px;}.kadence-column_e3168d-6c > .kt-inside-inner-col,.kadence-column_e3168d-6c > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_e3168d-6c > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_e3168d-6c > .kt-inside-inner-col{flex-direction:column;}.kadence-column_e3168d-6c > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_e3168d-6c > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_e3168d-6c{position:relative;}@media all and (max-width: 1024px){.kadence-column_e3168d-6c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_e3168d-6c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_e3168d-6c\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading_395f1b-63, .wp-block-kadence-advancedheading.kt-adv-heading_395f1b-63[data-kb-block=\"kb-adv-heading_395f1b-63\"]{font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading_395f1b-63 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_395f1b-63[data-kb-block=\"kb-adv-heading_395f1b-63\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_395f1b-63 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_395f1b-63[data-kb-block=\"kb-adv-heading_395f1b-63\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<p class=\"kt-adv-heading_395f1b-63 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading_395f1b-63\">\u201cThe rapid growth in the economy offered room for growth if companies had the courage to believe that the new financial instruments, then emerging, could be crucial in paving the way for the heavy investment that such a course would require. It was possible to anticipate that stock and bond issues would provide a path forward for businesses, such as Jer\u00f3nimo Martins, averse to an over-reliance on bank borrowing.\u201d<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading_01a5ad-b2, .wp-block-kadence-advancedheading.kt-adv-heading_01a5ad-b2[data-kb-block=\"kb-adv-heading_01a5ad-b2\"]{font-size:14px;font-weight:bold;font-style:normal;text-transform:uppercase;}.wp-block-kadence-advancedheading.kt-adv-heading_01a5ad-b2 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_01a5ad-b2[data-kb-block=\"kb-adv-heading_01a5ad-b2\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_01a5ad-b2 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_01a5ad-b2[data-kb-block=\"kb-adv-heading_01a5ad-b2\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<p class=\"kt-adv-heading_01a5ad-b2 wp-block-kadence-advancedheading has-azul-2-color has-text-color\" data-kb-block=\"kb-adv-heading_01a5ad-b2\"> Pedro Soares dos Santos &#8211; Jer\u00f3nimo Martins\u2019 Chairman and CEO<\/p>\n<\/div><\/div>\n<\/div><\/div><\/div>\n\n\n<style>#kt-layout-id_6ee8e2-c1 > .kt-row-column-wrap{align-content:start;}:where(#kt-layout-id_6ee8e2-c1 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}#kt-layout-id_6ee8e2-c1 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:var( --global-kb-row-default-top, 25px );padding-bottom:var( --global-kb-row-default-bottom, 25px );padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);grid-template-columns:minmax(0, 1fr);}#kt-layout-id_6ee8e2-c1 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){#kt-layout-id_6ee8e2-c1 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){#kt-layout-id_6ee8e2-c1 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style>\n<div class=\"wp-block-kadence-rowlayout alignnone\"><div id=\"kt-layout-id_6ee8e2-c1\" class=\"kt-row-layout-inner kt-layout-id_6ee8e2-c1\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-gutter-default kt-v-gutter-default kt-row-valign-top kt-row-layout-equal kt-tab-layout-inherit kt-m-colapse-left-to-right kt-mobile-layout-row\"><style>.kadence-column_fd9be8-bf > .kt-inside-inner-col{padding-left:15px;padding-right:15px;}.kadence-column_fd9be8-bf > .kt-inside-inner-col{border-color:#FFFCF9;border-top-width:5px;border-right-width:5px;border-bottom-width:5px;border-left-width:5px;}.kadence-column_fd9be8-bf > .kt-inside-inner-col,.kadence-column_fd9be8-bf > .kt-inside-inner-col:before{border-top-left-radius:22px;border-top-right-radius:22px;border-bottom-right-radius:22px;border-bottom-left-radius:22px;}.kadence-column_fd9be8-bf > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_fd9be8-bf > .kt-inside-inner-col{flex-direction:column;}.kadence-column_fd9be8-bf > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_fd9be8-bf > .kt-inside-inner-col{background-color:rgba(252, 205, 62, 0.08);}.kadence-column_fd9be8-bf:hover > .kt-inside-inner-col{background-color:rgba(252,205,62,0.08);background-image:none;}.kadence-column_fd9be8-bf > .kt-inside-inner-col:before{opacity:0.06;}.kadence-column_fd9be8-bf:hover > .kt-inside-inner-col:before{opacity:0.06;}.kadence-column_fd9be8-bf{position:relative;}@media all and (max-width: 1024px){.kadence-column_fd9be8-bf > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_fd9be8-bf > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_fd9be8-bf\"><div class=\"kt-inside-inner-col\">\n<p><\/p>\n\n\n\n<p>Listing on the Stock Exchange, enabled Jer\u00f3nimo Martins to grow locally and expand internationally, creating value that was shared to all its investors. Although Jer\u00f3nimo Martins is listed on the Stock Exchange, the Group remained controlled by a family holding Company, which provided the stability that allowed management to stay focused on the long term and to keep family values central to decisions.<\/p>\n<\/div><\/div>\n<\/div><\/div><\/div>\n\n\n<style>.kadence-column_a091e5-6f > .kt-inside-inner-col{border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;}.kadence-column_a091e5-6f > .kt-inside-inner-col,.kadence-column_a091e5-6f > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_a091e5-6f > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_a091e5-6f > .kt-inside-inner-col{flex-direction:column;}.kadence-column_a091e5-6f > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_a091e5-6f > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_a091e5-6f{position:relative;}@media all and (max-width: 1024px){.kadence-column_a091e5-6f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_a091e5-6f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_a091e5-6f\"><div class=\"kt-inside-inner-col\">\n<p style=\"font-size:10px\">Source: Jer\u00f3nimo Martins, Jornal de Neg\u00f3cios<\/p>\n\n\n\n<p style=\"font-size:12px\"><strong><em>The information presented is the responsibility of the respective companies<\/em><\/strong><\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Jer\u00f3nimo Martins SGPS, S.A. Founded in 1792, Jer\u00f3nimo Martins is a Portugal-based international Group operating in the Food Distribution (98% of global sales) and Specialised Retail sectors. The Group currently concentrates its main operations in three countries: Portugal, Poland and Colombia. Capital Markets 1989 IPO Jer\u00f3nimo Martins was listed on the Lisbon Stock Exchange on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4122,"parent":0,"menu_order":7,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-4837","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/pages\/4837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/comments?post=4837"}],"version-history":[{"count":5,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/pages\/4837\/revisions"}],"predecessor-version":[{"id":6105,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/pages\/4837\/revisions\/6105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/media\/4122"}],"wp:attachment":[{"href":"https:\/\/issuers-guide.buzzvel.work\/en\/wp-json\/wp\/v2\/media?parent=4837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}