Conad Adriatico has marked its 50th anniversary with the announcement that its turnover rose 7.7% last year to €1.85 billion.
The Italian retail cooperative is forecasting further sales growth in 2022, targeting €1.92 billion, however it anticipates some challenges ahead, in the form of inflation, lower consumer purchasing power, and the effect of the war in Ukraine.
The group ended last year with a net profit of €36 million.
Four-Year Investment Plan
Last year, Conad Adriatico approved a four-year investment plan worth €243.7 million, focused on new openings and the modernisation of existing stores, the digitalisation of activities, and boosting its logistics footprint.
Total capex in 2021 stood at €34 million, of which €13 million was used for new-store openings.
The cooperative is the leading grocery retailer in Abruzzo, with a market share of 32.43%, and the biggest large-scale food distributor in the Marche region.
Conad Adriatico ended the year with 277 members and 455 stores, with a total area of 376,428 square metres, in various regions of the country: Marche (77 stores), Abruzzo (145), Molise (17), Puglia (167) and Basilicata (7). It also has 42 stores in Albania and Kosovo.
Read More: Conad Cooperatives Report Above-Market Sales Growth In 2020
Multiple Store Formats
The cooperative operates multiple store formats: 24 Spazio Conad, 17 Conad Superstore, 174 Conad, 126 Conad City, 31 Margherita Conad, 61 Todis and 17 L’Alimentare outlets.
The network also includes four fuel distributors and one pet store, to which are added 27 parapharmacies – shops that sell everything that one would find in a pharmacy, except medication – 12 opticians, and five Conad Self 24h outlets.
In 2021, Conad Adriatico’s network of local suppliers included 562 local producers, with whom the cooperative has developed a turnover of €434.3 million (+€45.3 million on 2020).
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.
