Italian regional retailer Etruria Retail closed 2021 with a turnover of €238 million and a network of 321 stores.
The company's turnover was down by €14 million compared to 2020, which was a record-breaking year for the business due the continuation of pandemic restrictions. Year-on-year turnover in full-year 2020 was €34 million than the previous period.
Overall, growth is positive over a two-year period, amounting to €20 million, which is an increase of 10%.
The Siena-based company is active in four regions in central and northern Italy (Tuscany, Umbria, Lazio, and Liguria), operating 157 Carrefour-branded stores (as a master franchiser) and 164 stores under the La Bottega Sapori&Valori banner.
Capital Expenditure Increase
Capital expenditure last year amounted to €57.5 million, while shareholders' equity grew to over €45 million, covering nearly 80% of the invested capital. In addition, there was no change of net financial debt, at just over 5% of sales.
Miscellaneous goods accounted for 49% of sales, followed by cured meats and dairy products (23%); fruit and vegetables (13%), meats (9%) and fresh fish (6%).
Share Of Sales
The company's largest share of sales is in the area of Arezzo, Grosseto and Siena (54%), followed by northern Tuscany and the province of La Spezia (32%), Umbria, Lazio and Abruzzo (14%).
At the provincial level, Grosseto, with 23%, Siena (18%) and Arezzo (12%) were in double figures.
In terms of the composition of sales, 83% was recorded in Carrefour branded stores (Express, Market and other banners), followed by Bottega Sapori e Valori (10%), while other banners accounted for the remaining 7%.
Read More: Italy Business, Consumer Morale Rises In May: ISTAT
© 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.
