Spanish retailer Grupo IFA has reported a 3.1% increase in turnover, to €33.2 billion, in its 2021 financial year.
The company attributed this growth to its good performance in the Spanish, Portuguese and Italian markets, with Spain accounting for €15.1 billion in sales.
When compared with 2019, the company's turnover grew by 25.6% in international markets and 11.4% in domestic markets.
In Spain, the company closed the year with a network of 6,265 stores and a retail area of 3.9 million square metres, which accounted for a market share by surface area of 19.7% and 31.7% in the retail and wholesale channels, respectively.
'Energy And Raw Materials'
Commenting on its performance, the chief executive of Grupo IFA, Juan Manuel Morales, said, "Despite the complex scenario of 2021, with inflation rising owing to the increase of the energy and raw materials prices worldwide, we have successfully accomplished the first year of our 2021-2025 Strategic Plan. However, we are concerned about the regulatory costs being borne by the sector, as it is leading the industry to a delicate situation due to its low profitability."
Morales added, "A challenging future lies ahead, but we are convinced that together we are stronger. We will be capable of overcoming the difficulties by reinforcing the existing partnerships with our associates, the head office and suppliers, as well as with all the stakeholders we are firmly committed to."
Proximity Model
Grupo IFA added that its business model, which is based on proximity retailing, remains robust as mobility was less restricted than the previous year.
Morales said that IFA has "managed to retain the loyalty of those customers" who approached the company during the hardest moments of the pandemic.
The company added a million households to its customer base during the two years between March 2019 and March 2021, reaching 10.2 million from 9.2 million households.
Grupo IFA and its affiliate members created more than 2,000 jobs in 2021.
Read More: Grupo IFA Sees Turnover Rise By More Than A Fifth In Full-Year 2020
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
