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Retail

Sonae MC Reports Sales Growth Of 6.3% In FY2021

Sonae MC, the food retail unit of Portugal’s Sonae, reported a turnover of €5.36 billion in its financial year 2021, a 6.3% increase compared to the previous year (+3.4% on a like-for-like basis).

The hypermarket segment reported 2.4% sales growth, to €1.8 billion, while supermarkets saw turnover increasing by 5.9%, to €2.7 billion.

The company's 'new growth businesses and others' segment registered the highest growth rate, of 16.5%, reporting €885 million in sales.

Store Network

Sonae MC opened 64 company-operated stores last year, including 12 Continente Bom Dia proximity stores, adding 25,000 square metres of sales space.

The company ended the year with 1,343 stores, including franchises, and a total sales area of 911,000 square metres.

Online sales in the same period grew by about 30%, reinforcing leadership in the segment.

The company noted that 2021 was 'another year marked by the constraints related to the COVID-19 pandemic'.

'Remarkable Growth Rates'

According to chief executive, Luís Moutinho, the company achieved "remarkable growth rates, both in total and LFL shops, in a highly uncertain and challenging context.”

He also added that Sonae MC outperformed market growth, enabling the group to boost its market leadership position.

Moutinho added, "[The year] 2022 will bring different challenges: we are confident that we are in a privileged position to overcome all difficulties and find new opportunities to exceed our customers our customers' expectations, keeping the company on its path of solid growth, with a strengthened ambition and a strong sense of purpose."

In August of last year, Sonae SGPS reached an agreement to sell 24.99% of its grocery retail unit Sonae MC to CVC Advisers Company (CVC Funds).

© 2022 European Supermarket Magazine. Article by Branislav Pekic. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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