Coop Italia and its member cooperatives achieved an overall turnover of €16.4 billion in its financial year 2023, reflecting a 2% increase compared to the previous financial year.
The retail segment accounted for €14.8 billion of this total, growing by 2.9% year on year.
Coop maintained a stable financial position with operating result witnessing an increase of over €115 million compared to 2022.
The cooperatives also consolidated their capitalisation with equity at €6.5 billion, while reducing short-term debt by €1.1 billion over the past year.
Product Repositioning Project
Coop completed its two-year product repositioning project, introducing approximately 5,000 new branded products across most categories.
This innovation propelled Coop's brand to leadership in 80% of categories, with a penetration rate exceeding 95%.
Coop-branded products contributed significantly to total sales, exceeding €4.5 billion and accounting for over 40% of the overall revenue.
Despite a slight decrease in market share (-0.3%) to 11.4%, Coop retained its second-place position in Italian large-scale retail behind Conad.
The number of Coop members remained stable at over 6.2 million, representing over a quarter of Italian families.
Other Italian Regional Cooperatives
Elsewhere, Italian regional cooperatives Nova Coop, Coop Liguria, and Unicoop Tirreno have all posted positive results in their 2023 financial year.
At Nova Coop, which serves the Piedmont and upper Lombardy region, gross sales exceeded €1.19 billion (+3.07%), while net profit amounted to €28.4 million.
Coop Liguria’s total turnover reached €854.2 million in 2023 (+2.53% year-on-year), marking the cooperative's 38th year of profitability, as it posted a profit of €10.4 million.
Coop Alleanza 3.0 bounced back to profitability in 2023 with sales growth of 2.6% to €5.7 billion. Net profit rose to €20 million, from a loss of €117 million the previous year.
