Aldi España suffered a loss of €471 million loss in 2023 due to €450 million in write-downs on real estate and financial investments, according to Spanish daily Cinco Dias.
These impairments, mostly on real estate, reduced the value of assets by over 20% year-over-year. However, according to auditor Deloitte, the write-downs did not impact the company's net worth.
The losses stemmed from a change in ownership structure, with Aldi Nord International now owning 100% of the Spanish subsidiary, triggering a revaluation of assets.
Investment
Despite the losses, the German parent company injected €400 million into its Spanish subsidiary, six times more than in the previous year.
The investment will be used to support operations and expansion plans, which include opening 40 more stores in 2025, taking the total to over 500.
While the German discounter has invested heavily in Spain, including logistics and nearly 200 store openings in the past five years (40 in 2024), its market share remains relatively small (1.7%) compared to competitors like Mercadona (29.5%), Carrefour (7.4%), and Lidl (6.7%). For its part, Aldi claims to be the fastest-growing supermarket chain in Spain for the last three years.
Aldi ended 2024 with 468 stores in Spain, as well as seven warehouses, totalling 250,000 square metres.
Aldi Boosts Local Purchases
Meanwhile, Aldi aims to increase its domestic product sourcing, with plans to buy 15% more fresh Spanish meat, fruits, and vegetables in 2025, exceeding 200,000 tonnes.
Currently, 85% of vegetables and 65% of fruit come from Spanish sources, mainly from specific regions like Aragon, Catalonia, and Andalusia.
All of its fixed-assortment meat is Spanish, and Aldi plans to increase meat purchases by 12.5% in 2025, mainly sourced from regions like Catalonia and Galicia.
In Spain, Aldi offers over 500 fresh products, partners with over 400 Spanish suppliers, and 80% of its private-label offer is of Spanish origin. Three new logistics platforms help maintain freshness and reduce transport costs.
Last year, Aldi also lowered prices on over 600 products in 2024, with discounts up to 53%.
