Supermarkets – Net profit of 145.5 million euros and 4,571 new hirings in 2020
Industry growth in the first year of the pandemic is the highest annual change in at least the last 15 years
With a turnover of 9.26 billion euros and net profits of over 145 million euros, the big 7 of the organized retail sector were the most profitable in the domestic retail trade in 2020.
If we add to the performance of Sklavenitis, AB Vassilopoulos, Metro (My Market), Masoutis, Galaxias, ANEDIK Kritikos and Market the turnover of the discount chain Lidl Hellas, which is in the top 3 of the industry but does not publish a balance sheet, the “account” exceeds 11.3 billion euros in 2020, an amount that as everything shows is maintained during this year despite the return to normalcy.
Sales in the supermarket sector in the year marked by the pandemic, according to NielsenQ, showed an increase of 9.7% (venues over 100 sq.m. of mainland Greece and Crete, including Discounters), while according to the company According to IRI surveys, the growth of supermarket sales since the beginning of 2020 was in double digits and stood at 10.4%.
According to Nielsen, this growth is the highest annual change in at least the last fifteen years. In total, the additional turnover of supermarket chains in the pandemic exceeded 900 million euros.
At the same time, the 7 largest chains – with the exception of one – proceeded with hundreds of hirings in order to respond on the one hand to the explosive growth of e-sales and on the other hand to the organic development of their networks.
Sklavenitis: Record turnover, profits and recruitment
It took the Sklavenitis family only 3 years to “turn the ship around”. Recording a double growth rate in 2020 from the whole market, the Sklavenitis chain seems to have been the most favored in the year of the pandemic as it showed profits, for the first time since 2017, when it acquired the control of the bankrupt Marinopoulos chain.
Analytically, at the parent company level, net profit after taxes amounted to 60.95 million euros in 2020 against losses of 10.74 million euros in 2019, while the net result of the group amounted to profits of 63.59 million euros against losses 18 , 79 million euros in 2019.
Sklavenitis’ turnover in Greece amounted to 3.15 billion euros in 2020 compared to 2.63 billion euros in 2019, recording an increase of 19.5%. The consolidated turnover amounted to 3.79 billion euros against 3.27 billion in 2019, an increase of 15%.
Apart from the turnover record, Sklavenitis also made a recruitment record. In 2020 alone, it increased the number of its staff by 2,572 people (30,251 employees in 2020 compared to 27,679 in 2019).
The group’s network currently consists of 430 Sklavenitis stores in Greece, 18 Sklavenitis stores in Cyprus, 39 Chalkiadakis stores in Crete and 13 The Mart stores (in the cash & carry category).
AB Vassilopoulos: Smaller increase in sales compared to the industry
In second place in terms of turnover – after Sklavenitis – AB Vassilopoulos managed in 2020 to “break” again the limit of 2 billion euros after a hiatus of two years. It is recalled that in 2016 and 2017, the chain, which is a member of the Dutch-Belgian group Ahold Delhaize, had benefited significantly from the collapse of Marinopoulos and was at the top of the domestic supermarket sector. However, last year’s sales are below the 2016 highs.
Specifically, turnover amounted to 2.02 billion euros in 2020 at group level (2.018 billion euros at company level) from 1.94 billion in 2019, showing an increase of 3.76% at group level and 3.60% at company level. The rise, according to the financial report, is due to the increase in home consumption which led to increased consumer spending due to the Covid-19 pandemic.
Profit for the year amounted to 28 million euros in 2020 at group level (27.1 million for the company) compared to 20 million euros at company level in 2019, showing an increase of 40.2% for the group and 35.45% for the company.
The number of employees increased by 836 employees to 15,386 people from 14,550 in 2019.
At the end of the fiscal year 2020, the sales network of AB Vassilopoulos numbered 543 stores, of which 310 were corporate retail stores, 219 franchise stores, and 14 wholesale stores.
METRO: More than doubling of profits
With 403 more employees compared to 2019 and a 6% increase in turnover, METRO SA (My Market in retail and Metro Cash & Carry in wholesale) of the Panteliadis family doubled its profits in 2020. The significant profitability of the group is attributed to maturity of the investment from the acquisition of Veropoulos.
Specifically, the result of the period after taxes amounted to 22 million
million euros from 9.5 million euros in 2019, while net sales amounted to 1.33 billion euros compared to 1.26 billion euros in 2019.
METRO SA last year hired 403 people, reaching 11,143 employees from 10,740 in 2019.
During the year 2020, the company had 3 Distribution Centers, in Oinofyta, Boeotia, Mandra, Attica and Gefyra, Thessaloniki, 50 wholesale stores, one of which is a delivery center (METRO Cash & Carry), 227 retail stores and 17 service stations. liquid fuel.
Masoutis: 20% increase in profits
The Masoutis chain based in Thessaloniki recorded a double-digit increase in profits in 2020. Specifically, profits after taxes amounted to 9.92 million euros from 8.26 million euros in 2019, recording an increase of 20%.
Masouti’s turnover in 2020 amounted to 882.44 million euros compared to 829.81 million euros in 2019.
The company during 2020 increased its staff by 415 people reaching 10,027 employees from 9,612 in 2019.
As of December 31, 2020, the company had 333 stores in operation, of which 297 retail stores, 15 Grand stores and 21 Cash & Carry stores. In the year 2020, 7 new stores were opened and 4 stores were closed.
Galaxias: Impressive rise in profits but fewer employees
The Galaxias supermarket chain (PENTE SA) closed in 2020 without debts to the banks – for another year – and with an impressive increase of profits by 123.16%.
Specifically, profits after taxes amounted to 21.38 million euros compared to 9.58 million euros in 2019, while its turnover last year amounted to 511.53 million euros compared to 450.13 million euros in 2019, recording increase 13.64%.
In terms of staff, according to the financial report, the chain in 2020 shows 156 fewer employees, from 5,051 in 2019 to 4,895 people in 2020.
The company’s stores at the end of the year 1/1 – 31/12/2020 amount to 167, of which 86 are privately owned and 81 are leased.
ANEDIK Kritikos: Small increase in profits
The turnover of the group during the year 2020 amounted to 390.1 million euros compared to 350 million euros in the corresponding period of 2019 (increase of 11.43% compared to the previous year). The results after taxes remain profitable and amounted to 1,891,016 euros for the year 2020 compared to the year 2019 which had amounted to 1,805,988 euros, showing an increase of 4.71% compared to the previous year.
The number of employees on December 31, 2020 amounted to 2,385 people for the group, while for the company to 2,339 people. As of December 31, 2019 the corresponding number of staff was for the group at 2,252 people and for the Company at 2,206 people. The increase in staff in 2020 amounted to 133 people.
The total number of stores included in the company’s network (corporate, dealers, franchise) at the end of 2020 amounted to 231. To these should be added 140 stores which are affiliated with the franchise method with its subsidiary CRM SA, in Crete.
Market In: Single digit increase in sales
Market In turnover in the year 2020 amounted to 347.13 million euros compared to 318.74 million euros in the previous year 2019 (increase of 8.91%). The result after taxes of the closing year 2020 amounted to 1.39 million euros compared to the amount of 929 thousand euros of the previous year 2019, recording an increase of 49.86%.
The company’s staff increased in 2020 by 212 employees and amounted to 3,226 people compared to 3,014 in 2019.
The chain lists a total of 196 stores.