Grupo IFA Sees Turnover Rise By More Than A Fifth In Full-Year 2020
Spain-based Grupo IFA has reported a 21.8% increase in year-on-year turnover to €32.2 billion, with consolidated sales in its home market rising 11% to €15 billion.
The group, which encompasses 34 affiliate members including Ahorramás, Bon Preu, Compañía, Condis, Dinosol, Supermercados Bolaños, Supermercados Dani and others, said that its proximity-based retail model remains 'robust', and that it has emerged 'strengthened from an exceptional year marked by mobility restrictions, especially during the first months of the pandemic'.
The group, which comprises some 11,000 stores across Spain, Italy and Portugal, covering close to seven million square metres, also saw its employment numbers rise during the period (by 7,046 across its affiliated companies), meaning that the business now employs more than 137,000 people.
'Robustness And Responsiveness'
"Our model has shown robustness and responsiveness in the hardest moments, thus gaining trust across households following lockdowns," commented Grupo IFA’s managing director, Juan Morales.
"This is the result of a business model focused on value and which, therefore, faces higher costs, but in turn provides a service based on proximity both physical and emotional, freedom of choice and fresh produce quality. These distinguishing features are more valid than ever before."
In Spain, the group now covers some 82% of the marketplace, thanks to a network of 6,335 stores. It is the leading retail distribution group by surface area in 17 provinces, it said.
Challenging Times Ahead
Looking ahead to the coming year and beyond, Morales sought to emphasise the "courage and firm dedication" shown by the group's team over the most recent year, noting that a "challenging" period lies ahead.
"We hope that it does not get any more complicated with additional costs and regulatory measures, which would have a drastic impact on a sector characterised by low margins," he said. "However, our road map for the 2021-2025 period encourages us to face the future with great hope and optimism to keep growing in one of the most competitive markets in Europe."