Italian regional cooperative and retailer Conad Adriatico closed 2019 with a turnover of €1.44 billion, up 15.2% on the previous year’s performance.
The business saw its market share grow 2.8% to 17.2% for the period, despite an overall market contraction of 0.1%, it said.
Business Performance
Consolidated shareholder equity reached €186.8 million (+€9.9 million), reported La Repubblica.
Over the past year, Conad Adriatico boosted its presence along the Adriatic coast, strengthening its leadership in Abruzzo (33.9%) and Molise (22.7%) and seeing its share in the Marche region rise to 16.7% (a 7.6% increase), as a result of merger and acquisition activity with Finiper and Auchan.
Shareholders also approved the group's 2019-2022 investment plan, worth €97.6 million, of which €40.3 million is earmarked for 2020, mainly for new store openings boasting a combined 52,000 square metres of sales space.
The group expects to close 2020 with a turnover of €1.7 billion (+20.7% compared to 2019).
Store Network
Conad Adriatico’s sales network in the five regions consists of 421 outlets (16 Spazio Conad, 15 Conad Superstore, 167 Conad, 112 Conad City, 30 Margherita Conad, 60 Todis, 17 L'Alimentare, three petrol stations and 1 PetStore, as well as nine Ottico outlets, 16 parapharmacies and six Self 24 Conad stores) for a total of 319,010 square meters, which are managed by 265 partners.
The Conad private label brand remains a fundamental lever for building brand loyalty and one of the main factors contributing to revenue growth, it said, accounting for 24.5% of total purchases, 3.9% above the Italian average.
The cooperative has supply contracts with 885 local producers (up 42 on 2018) for a total turnover of €332.3 million (+€60.9 million).
Conad Adriatico also said that its initiatives and good practices when it came to product pricing helped save customers €38 million in 2019.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
