Eurocash Group has reported total revenue of PLN 8.2 billion (€1.75 billion) in the fourth quarter of its financial year.
In the fourth quarter, the Polish retailer recorded the highest EBITDA in its history, reaching PLN 308 million (€65.7 million) with 14% year-on-year growth.
For the full year, the company's consolidated sales amounted to PLN 30.9 billion (€6.5 billion), registering an increase of 17.4% compared to full-year 2021.
The company's wholesale division saw sales increasing by 15.8% year on year to PLN 22.3 billion (€4.8 billion) in full-year 2022, while its EBITDA increased by 22.9% to PLN 821 million (€175.1 million).
Sales of in the retail segment exceeded PLN 7.67 billion (€1.6 billion), reflecting a year-on-year increase of 20.2%. In like-for-like terms, sales at Delikatesy Centrum increased 12.1% and Inmedio stores registered 20.9% growth.
The Duży Ben chain saw a 63% increase in sales, to PLN 296 million (€63.1 million) compared with 2021, while Frisco's sales reached PLN 384 million (€81.9 million).
Paweł Surówka, president of the Eurocash Group said, "I am very pleased with the subsequent actions implemented as part of the adopted strategy, including the start of integration of wholesale units, growing sales via the eurocash.pl platform, and increasing the number of stores integrated on the IPH platform. We also significantly improved our financial standing, reaching the lowest net debt to EBITDA ratio in 4 years, below the level envisaged in our strategy.
"In an environment of high interest rates, we systematically reduce debt to reduce financial costs. The result is a clear improvement in profitability at the level of the net result. I see us on track to meet our ambitious goals for 2025."
The Eurocash Group is one of the largest Polish companies dealing in the wholesale distribution of food and other fast-moving consumer goods (FMCG). The company has a customer base of more than 90,000 people.
Its franchise, agency and partner networks include ABC, Groszek, Lewiatan, Euro Sklep, Gama, and Duży Ben, while it also operates the Delikatesy Centrum retail chain.
© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.