Retail

Croatian Retailers End 2021 Positively, Konzum Maintains Leadership

Share this article

All of the biggest retailers in Croatia reported revenue growth in 2021, with market leader Konzum managing to keep its main rivals – Lidl and SPAR – at a distance.

Konzum, the grocery retail chain owned by Fortenova Group, confirmed its leadership position in the market with a turnover of HRK 10.71 billion (€1.4 billion) – which went up by 6.75%, year on year, according to data reported by T-Portal.

The company reported a net profit of HRK 40.34 million (€5.3 million) – a significant improvement on the previous year, which ended with a net loss of HRK 129.5 million (€17.2 million).

Lidl Sees Solid Growth

Konzum’s main competitor, Lidl, increased revenues by 7.53%, to HRK 6.56 billion (€871.2 million), with strong profit growth reaching HRK 380.34 million (€50.5 million).

The third-biggest player is SPAR, with revenue growth of 8.21%, to HRK 5.37 billion (€713.2 million), moving into the black with a profit of HRK 14.76 million (€1.96 million) – up from a loss of HRK 44.7 million in 2020 (€5.9 million).

Double-Digit Growth At Plodine

Plodine – a local retail chain owned by businessman Mile Curkovic – placed fourth, with a turnover of HRK 5.18 billion (€688.1 million), growing by 14.28%, while net profit grew by 64.46%, to HRK 264.47 million (€35.1 million).

Fifth-placed Kaufland saw revenue growth of 8.06%, to HRK 4.25 billion (€564.5 million), while profit amounted to HRK 88.48 million (€11.7 million).

Elsewhere, Split-based Tommy increased its turnover by 14.28%, to HRK 3.6 billion (€478.2 million), with profit rising to HRK 129.62 million (€17.2 million).

Studenac Posts Strongest Growth

Studenac reported the highest growth in turnover (26.68%), to HRK 2.35 billion (€312.1 million), although it ended the year with a net loss of HRK 8.92 million (€1.18 million) due to a number of acquisitions carried out during the year.

Studenac is now the biggest retailer in Croatia by store count.

Leading national newsagent Tisak, also part of Fortenova Group, ended the year with a turnover of HRK 2.01 billion (+13.39%), while drugstore chain DM reported sales of HRK 1.99 billion (+4.5%) and a profit of HRK 67.5 million (+68.5%).

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days

Copyright © 2022. All rights reserved. Developed by Square1 and powered by PublisherPlus.com