Dutch wholesaler Sligro Food Group has posted year-on-year revenue growth of 30.8% to €2.5 billion in its financial year 2022, up from €1.9 billion in the previous year.
The company's fourth-quarter revenue increased by 26.8% on a year-on-year basis.
In the Netherlands, the company saw revenue growth of 29.3% in 2022, while Belgium reported a 46.3% increase.
In both countries, the revenue growth was entirely organic, Sligro Food Group noted.
Revenue from tobacco products further decreased in 2022, amounting to 7.9% of total revenue compared to 11.1% in 2021.
The company's revenue increased by 1% in 2022 (4% in the fourth quarter) when compared to pre-COVID-19 figures.
The company saw a substantial impact from inflation in 2022 and compensated for it where possible and passed the remainder on the prices of its goods, which increased by around 9.7% cumulatively.
Acquisition
Elsewhere, the acquisition of Metro's operations in Belgium, announced in December 2022, became effective on 3 January 2023.
Sligro has acquired Metro's wholesale facilities across the country and about a hundred employees from the regional network and head office.
The move means that Sligro Food Group becomes the largest food wholesaler in Belgium in one move, according to a report.
The group said it would offer workers from Metro's Antwerp North outlet, which it won't be taking over, jobs at the nearby Sligro-ISPC outlet, while the Evergem outlet and its staff would be transferred to food service market wholesaler Van Zon.
The company will publish its full annual results and report for 2022 before the opening of the stock exchange on 2 February 2023.
© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.