Eroski five times the size of its profit in the first half, up 85 million euros

Mercadona reinforces its leadership and Day loses market share to septiembreLos supermarkets are more expensive and cheaper EspañaLas companies behind the brand

Eroski five times the size of its profit in the first half, up 85 million euros
Mercadona reinforces its leadership and Day loses market share to septiembreLos supermarkets are more expensive and cheaper EspañaLas companies behind the brands of the supermarket

The Eroski group has closed the first semester with 85 million euros of profit, which has more than five times the 14.8 million euros of the same period last year , according to the distribution group. The profit increase was achieved despite that the group has lowered slightly its figure of business, 2.314 billion in the past year to 2.250 million in it.

Highlights the growth of the 1.9% of sales in the Basque Country, Navarre, Galicia and the Balearic islands, areas that have a network widely transformed the business model "with you".

The operating profit current, indicator of the evolution of the business, reached a result of € 65 million in the first half, which represents a growth of 10% over the same period of the previous year , driven by improved efficiency in the value chain, both in the logistics processes as in the own business model "with you".

During the first part of the year, Eroski has depreciated to 68 million euros of financial debt -which stood at about 1,500 million, although the firm has not completed the figure-; that's supposed to have reduced by nearly 1,800 million euros since 2010.

After having complied with its previous commitments, Eroski reached a new financial agreement signed by 100% of the entities creditors , in force since last July 31, 2019, which will cover the financing of the group until 2024.

"The accounts reflect the accounting application of conditions achieved in the refinancing agreement with the financial entities, as well as the effect of the first application of the standard NIIF16 of leases", explained the Financial director of Eroski, José Ramón Anduaga.

The investment has amounted to 42.4 million euros, between own and franchisees, and has been designed in large measure to the refurbishment of 116 supermarkets and the opening of 38 new stores.

as a Result of these openings and of the transformation of stores to the model with "you" , Eroski has created 208 jobs in the first six months of the year.

For his part, the matrix Eroski cooperative has closed the first half with a profit of 93 million euros , is far superior to just two million from the previous year. The group includes Caprabo supermarket, shops, sports Forum, gas stations, travel agencies and optical.

Updated Date: 27 September 2019, 21:02

ABC ES

ABC ES

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