Carrefour Net Income Slumps to €319 M, Biedronka Eyes 478 Polish Stores
Carrefour recorded €82.1 billion in 2025 net sales but net income plunged to €319 million from €723 million due to higher taxes and integration costs. Jeronimo Martins’ Biedronka said it is prepared to acquire a large portion of Carrefour’s 478 Polish sites after the French group hired JP Morgan to advise.
1. Earnings Decline and Profitability Challenges
Carrefour reported €82.1 billion in net sales for 2025, while gross margin dipped to 19.5% and net income fell to €319 million from €723 million a year earlier, citing higher tax charges of €516 million and integration costs as primary drivers of the decline.
2. Biedronka’s Acquisition Interest
Jeronimo Martins’ Biedronka CEO Luis Araujo stated the chain is ready to pursue acquisition of a substantial share of Carrefour’s 478 Polish stores if the French group opts to divest, with JP Morgan engaged to advise on the potential transaction.
3. Geopolitical Risks and Margin Outlook
Jeronimo Martins posted a 2.3% rise in Q4 net profit, but warned that escalating geopolitical tensions could drive volatility in energy costs and food inflation, making it “extremely challenging” to maintain EBITDA margins in 2026 without price adjustments.