Italian regional large-scale retailer Gruppo Multicedi has reported 10% annual growth in turnover, to €890 million, in 2022.
The group reported €1.4 billion in sales at the checkout during the year, it added.
Consolidated EBITDA amounted to €27.3 million and consolidated profit before tax stood at €18.9 million, both in line with the figures reported in 2021.
Despite a significant growth in turnover, the group did not see an increase in profits, which amounted to €13.4 million for the year, as it opted to support the profitability of its affiliates hit by a sharp rise in energy costs.
Multicedi said that partially absorbed some inflationary factors at head office level, and retained margins for those operating under its banner.
Regional Presence
Gruppo Multicedi consolidated its leadership in the territories in which it operates, such as the Campania region, where today it holds a 13.5% market share.
The company is already present in seven regions in Central and South Italy.
In 2022, 55 new outlets were opened, of which 22 are in Campania, 16 in Lazio, 13 in Puglia, and four in other regions of southern Italy.
To date, its flagship Decò banner operates over 360 stores, as well as 21 Dodecà (EDLP banner) and 21 Sebòn outlets.
Other banners include Flor do Cafè, Quarì and pet store chain Ayoka.
Since the beginning of 2023, the retailer has opened 18 new stores, including its fifth AdHoc Cash&Carry outlet, also the first to open in a franchise formula, in Altamura near Bari.
Looking Ahead
For full-year 2023, Grupo Multicedi is targeting a 10% growth in turnover and €1 billion in sales.
Claudio Messina, Multicedi's CEO added, "This year Multicedi celebrates its 30th anniversary and to be able to do so with the knowledge and pride of having become over time one of the most important distribution realities in southern Italy, makes us proud and pushes us every day to do more."
© 2023 European Supermarket Magazine – your source for the latest Retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.
