Sicily-based large-scale retailer Gruppo Arena has reported net sales of €645 million in its financial year 2019, up 44% on the previous year.
The group's turnover including subsidiaries and franchising activities amounted to €812 million in the fiscal year.
EBITDA grew by 56% to €32 million, while the profit margin increased by 65% to €17 million.
Growth Driver
The company attributed its good performance to the acquisition of Auchan supermarkets, Gruppo Abate and Distribuzione Cambria in Sicily in 2019.
Excluding the M&A operations, the retailer reported like-for-like sales growth of 9.95%, reports Il Sole 24 Ore.
Other Activities
The group has also confirmed that it is on schedule for store launches and renovation of existing outlets.
The company has partnered with UniCredit to launch a dynamic discounting solution developed by FinDynamic.
The tool allows UniCredit's client companies 'to optimise working capital and effectively support their supply chain, alleviating financial tensions linked to the contingency,' the company said.
Performance In 2020
Despite the exceptional situation caused by the COVID-19 pandemic, Gruppo Arena continued to register significant increases in turnover in 2020.
The company saw a 9.95% like-for-like growth in the 17 weeks ended 24 April 2020.
The Enna-based group, which is best known for its Decò supermarket banner, has set up a task force to devise post-COVID-19 strategies.
It is comprised of managers, external consultants, and market experts, and tasked with developing operational strategies to respond to the changing social landscape and consumption trends.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
