EROSKI increased turnover by 2.5 % during the first semester of the year 2024

The EROSKI Group closed the accounts for the first semester of the current financial year, from 1 February to 31 July 2024, showing steady growth in sales in a challenging environment.

During the first half of the year, the turnover of the EROSKI Group maintained its upward trend. Thus, the business volume reached gross sales of 2,865 million Euros, which represents a 2.5 % increase as compared to the same period last year.

Especially noteworthy is the gross sales figure in the area of food, which reached 2,722 million Euros, 3.3 % above that recorded in the first six months of the year 2023. This evolution has been possible thanks to the positive reception of the promotion and price containment effort that the group has implemented and maintained since 2021, so as to mitigate the passing on of higher costs to sale prices. Hence, a big effort has been made to reduce this impact, amounting to 33 million during the first half of 2024.

The positive result of the group amounted to 50.2 million Euros. This figure, lower than that of the first semester last year by 19.7 million, is mainly due to the impact of the improvement in price competitiveness as well as the extraordinary results achieved in the first part of the year 2023.

“During the first half of the year we consolidated the growth of our gross food sales, 3.3 % higher than those of the same period in 2023. This increase has been largely driven by our new price policy, which relies on a remarkable effort aimed at easing consumers’ budgets. A clear example is the accrued saving of over 33 million Euros that we have generated for those who choose EROSKI to do their shopping, thanks to the reduction in the prices of more than 5,700 products in the first six months of the year 2024. This allows us to reinforce our competitiveness in terms of price and commercial appeal”, Rosa Carabel EROSKI’s CEO, has explained.

Cost control

In spite of the inflationary environment, the company managed to curb the increase in expenditure to a moderate growth with regard to the first half of 2023, which evinces the efficient management of all the areas through continuous efficiency improvement actions.

Solid ebitda and stable projection for the end of the year

The ebitda reached 155 million Euros in the first six months of the year, standing at solid rates around 6 %, which points to a favourable forecast for the end of the year similar to that of the same period last year.

As for the second half of the year, the EROSKI Group maintains a positive outlook, focused on consolidating growth and stabilising profitability.

About the EROSKI Group

EROSKI is the first distribution group of the cooperative type in Spain and one of the leaders in the northern Spanish market — from Galicia to the Balearic Islands — with a 12.8 % market share in this area; it is the leader in the Basque Country, Navarre and Galicia and co-leader in the Balearic Islands. Its commercial network, at the end of 2023, comprised 1,533 establishments, including supermarkets, hypermarkets, cash & carry and online supermarkets; as well as petrol stations, sports shops and other non-food businesses. Moreover, it has more than 6.4 million customer members and more than 27,400 cooperative and worker members, almost 9,000 of whom are owner members, in addition to the group of workers of the over 620 franchised stores.