Sligro Food Group sees revenue down 2.5% for full year 2021
Dutch wholesaler Sligro Food Group achieved a turnover of 1.9 billion euros in its 2021 financial year, down 2.5% compared to 2020.
The company’s net profit amounted to 20 million euros, an increase of 90 million euros compared to the previous year.
EBITDA increased by 45.3% to €109 million during the year, compared to €75 million in 2020.
Gross margin increased by 2.3 percentage points to 26.3%, with the decline in the share of tobacco products accounting for about 0.4% of this growth.
Sligro Food Group CEO Koen Slippens said: “Our expectations from last year regarding the impact COVID-19 would have on our markets and our results in 2021 have only been partially met. On the positive side, after the restrictive measures, consumers in the Netherlands and Belgium have started to visit the catering sector, amusement parks, theaters and events en masse.
“The emergence of the Delta and later the Omicron variant was negative, meaning that contrary to our expectations we were unable to continue the strong recovery that occurred over the summer in the second half. The capricious nature of decision-making and the government’s lack of decisiveness and learning capacity did not help.
In the Netherlands, the company migrated all of its customers to a new structure which was introduced in 2020 after completing the integration of Heineken.
The integration of delivery and self-service businesses has resulted in new customers and increased sales among existing customers, the company noted.
In Belgium, Sligro focused on further integrating its activities during the year. He carried out a large part of the harmonization of the assortment with ISPC.
Read more: Sligro Food Group announces a 9.5% drop in sales in the third quarter of 2021
Market share gain
Slippens added: “Year-on-year comparisons are insignificant in times of COVID-19, but over the past two years we see that we have gained market share in the Netherlands and Belgium.
“Our resilience as an organization, based on a culture full of entrepreneurial spirit and decisiveness, has also proven excellent in 2021. We have immense respect for the way and the speed with which our colleagues and customers have always reacted to new developments surrounding COVID-19. From this solid foundation, we look to the future with great confidence.
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up for ESM: The European Supermarket Magazine.