Polish retailer and wholesaler Eurocash Group has reported a 8% increase in revenue in the first nine months of its financial year, while consolidated EBITDA was up 7% to PLN 739 million (€167 million).
In the third quarter alone, the business saw sales revenues up 4% to PLN 8.6 billion (€1.94 billion), it said, with consolidated EBITDA rising 7%.
Wholesale Performance
Within the group's wholesale business, which accounts for close to three quarters (72%) of its sales, revenue was up 9% in the first nine months of the year, with 'strong' increases noted in its Eurocash Serwis (+19%) and Eurocash Gastronomia (+23%) formats.
Its Eurocash Dystrybucja format saw sales up 4% in the period, while Eurocash Cash&Carry was slightly down (-2%).
In its retail segment, meanwhile, which accounts for over 24% of overall Eurocash Group's revenues, revenue was up 6% in the nine-month period, with its core Delikatesy Centrum business seeing a 6.4% increase in like-for-like sales.
The group said that it is seeking to 'improve the price positioning' of its Delikatesy Centrum stores, with the effect of improving profitability – in the first three quarters of the year, the EBITDA in its retail segment was up 7%, it noted, while EBITDA margin rose by 4.4%.
'Consistent Strategy'
"Thanks to the consistently implemented strategy planned for 2023-2025, the Eurocash Group remains in an upward trend," commented Paweł Surówka, president of the Eurocash Group.
"We achieved an increase in revenues and EBITDA in all segments of our operations, despite the demanding market environment, i.e. weakening retail sales in Poland, inflationary pressure and a high comparative base from last year."
Surówka added that he expected sales and profits to be higher this year than in 2022.
