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Retail

Italy’s Maiora Sees Profit Up 43% In FY 2021

Italy’s Maiora, also known as Despar Centro Sud, reported 43% profit growth in 2021, to €22 million, while revenue increased 5.3% to over €900 million.

In the period 2014-2021, the company's revenue grew at a compound annual rate (CAGR) of 14.2%, EBITDA increased 44% annually, and profits increased 63%.

The positive performance was achieved by investments in the overhaul and modernisation of the company's sales network; development plans and acquisitions; and attention to consumer needs.

During 2022, the company joined the Elite network, part of Borsa Italiana Euronext group, which sponsors the adoption of high organisational and governance standards.

Investment Programme

The five-year investment programme for the period 2021-2025 foresees investments of over €70 million for the opening of 16 new points of sale and the restructuring and modernisation of its existing network.

Last year, stores in Cetraro (Despar), Belvedere Marittimo, San Marco Argentano, Corato and Catanzaro (all of the Interspar banner) were reopened in the Calabria region after restructuring.

In addition, a directly operated fish platform and bread-making facilities were set up in some outlets.

Plans for this year include the opening of three new stores in Puglia and a cash and carry in Calabria.

Based in Corato near Bari, Maiora is active in seven regions of Italy.

In January 2021, the regional retailer and Spar franchise holder Maiora has seen orders through its Despar at Home platform surge during the pandemic.

© 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.

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