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Rival Retailers Catching Up On Croatian Leader Konzum

Published on Sep 22 2020 8:37 AM in Retail tagged: Trending Posts / Lidl / Croatia / Konzum / Spar / Kaufland / Plodine / Studenac / World News

Rival Retailers Catching Up On Croatian Leader Konzum

Croatian market leader Konzum is facing increased competition from rival retailers, new data has shown.

According to Fina data published by T-Portal, Konzum reported pro-forma full year turnover of HRK 9.6 million (€1.3 million) last year, a increase of 1.15%

This puts it about HRK 3.8 billion ahead of its closest rival, Lidl, however the discounter is catching up, the data shows.

Catching Up

Lidl ended 2019 with a turnover of HRK 5.9 billion (€782.5 million), up 13.3% on 2018.

The discounter also outperformed Konzum in terms of pre-tax profit, posting profits of HRK 434.7 million (€58 million) in 2019, up 25% year-on-year.

Konzum reported profits of HRK 129 million (€17.1 million) in the period, which was down by 54%.

Spar holds third place in the market with revenue of HRK 4.8 billion (€636.6 million) last year, which was up 6.2%, but the retailer ended the year with a loss of HRK 26.3 million (€3.5 million)

The largest domestic player, Plodine, holds fourth position, reporting HRK 4.4 billion (€583.6 million) in revenue last year, a 3.6% increase. However, profits were HRK 165 million (€21.8 million), an increase of 12.3%.

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Fifth-placed Kaufland generated HRK 3.9 billion in revenue (€517.3 million) last year, up 7.1%, and made HRK 58.8 million (€7.8 million) in profit.

The second largest local player, Split-based Tommy, continues to cope well with foreign competition, increasing revenue by 9.7% to HRK 3.1 billion (€411.2 million) in 2019, and achieving a profit of HRK 152 million (€20.1 million).

Increased Funding

Closing the top 10 is Studenac, a retail chain that has seen continued growth since the arrival of new owner Polish fund Enterprise Investors and the acquisition of Istarski Supermarketi and Sonik. It ended the year with a turnover of HRK 1.7 billion, up an impressive 1,465%, and profit of HRK 31.6 million (€4.2 million).

The list also includes other retailers for which the sale of food products is not the main activity, such as Pevec, DM and Muller Trgovina.

Presenting the data, T-Portal noted that the year 2019 saw 'record results' for many retailers, due to improved consumer optimism, a top tourist season and above-average wage growth.

© 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.

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