Retail

Edeka Minden-Hannover Hits €10bn In Annual Sales For First Time

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Edeka Minden-Hannover, part of Germany's Edeka Group, has reported sales of €10.6 billion in full-year 2020, the first time that the regional business has broken the €10 billion mark in sales.

The business, which is headquartered in Minden, North Rhine-Westphalia, saw group sales rise 8.4% in the full-year period, while consolidated net profits were €142 million.

The group opened 52,000 square metres of additional retail space during the year, with 24 new store openings. It also invested more than €70 million into upgrading and modernising its store estate.

Organic and regional products were a core sales driver for the business, with sales of organic products rising 30% last year to €498 million, up from €383 million a year previously.

Its organic range now comprises 13,800 SKUs, it said, while local products are sourced from some 1,300 local and regional producers.

'Strong Tailwind'

Commenting on the group's performance, chief executive Mark Rosenkranz noted that while the group has seen retail sales surge, driven by the pandemic, its catering and HoReCA businesses have been impacted by prolonged closures.

"Although the food retail trade is experiencing a strong economic tailwind in the current situation, Edeka Minden-Hannover is also clearly feeling negative consequences," he said.

“In 2020, COVID-19 shaped everything we do. In order to fulfill our task as a reliable food supplier in the area, our teams have put in countless extra shifts in our markets, as well as in our production and storage locations, to ensure supply for consumers."

Edeka Minden-Hannover is the largest of the seven regional Edeka businesses. It employs around 76,800 people (including independent operators), and grew its staff count by close to 3,000 last year. On a group-wide basis, Edeka reported sales of €61 billion last year.

© 2021 European Supermarket Magazine. Article by Stephen Wynne-Jones. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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