Local Retailers Top For Revenue In Croatia
Local retailers dominate the Croatian market in terms of revenue, reports local daily “Poslovni Dnevnik”.
Konzum, Plodine, Tommy, Studenac and KTC had the highest turnover in 2015, followed by foreign rivals Lidl, Kaufland, Spar, Metro and Billa.
All retailers saw revenue growth, led by Spar (+14.6% y/y) while Metro had the lowest growth (+2%). While all Croatian retailers are profitable, only two foreign rivals are in the black (Lidl and Kaufland).
Konzum, owned by food-to-retail consortium Agrokor, had nearly HRK 2 billion higher revenues than the five foreign competitors combined (HRK 12.9 billion), ending the year with 742 stores and 358,000 m2 of retail space.
Plodine (HRK 3.87 billion in revenues and HRK 35 million net profit) opened one new supermarket (taking the total to 75), with two openings planned for 2016 (Fažani and Trogir).
Split-based Tommy (HRK 2.26 billion in revenues and HRK 105 million profit) is still the leader in the Adriatic region.
Among the foreign players, Lidl had HRK 3.7 billion in revenues, a net profit of HRK 185 million and 89 supermarkets.
Kaufland registered a profit for the first time (HRK 6 million), with revenues of HRK 3.2 billion (+6%). After opening new stores (totaling 37) and a logistics center last year, it plans to open a new store in Zagreb (Središće) in 2016.
Spar (HRK 2.5 billion in revenues) ended the year with a loss of HRK 120 million. Its network consists of 52 stores (17 large format) and the focus is now on opening supermarkets in the Adriatic region.
After seven years, Metro finally achieved a growth (+2%) in revenues to HRK 1.8 billion, while losses increased to HRK 26 million (from HRK 20 million).
Billa (turnover of HRK 1.68 billion and losses of HRK 83 million) invested HRK 38 million in 2015 in three new stores (two in Zagreb and one in Zadar), but it also closed stores in Kutjevo, Gradiška and Virovitica, taking the total to 61.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.