The ten largest retailers in Croatia generated HRK 34bn (€4.5bn) in revenue last year, representing a one per cent growth on the previous year.
According to research by Poslovna Hrvatska and TPortal, Lidl, Kaufland and Spar saw the highest growth in revenue, while Mercator and Metro lost market share.
Konzum remains market leader with revenues of HRK 13.4bn and profit of HRK 108mn. Its revenue is higher than the combined income of rivals Plodine, Lidl, Kaufland, Spar and Tommy.
Plodine is second with HRK 3.4bn (+4%) in revenue and HRK 41mn net profit. Owned by Rijeka-based businessman Mile Curkovic, the chain has invested over HRK 2bn in the past two years in new supermarkets and currently has 74 stores.
Third and fourth place in revenue terms are Lidl and Kaufland, part of Germany's Schwarz Group. Revenue at Kaufland, which has 22 supermarkets, increased by 10.3% to HRK 3bn, but losses reached HRK 35mn. Lidl, after achieving a modest profit for the first time in 2013, earned HRK 108mn.
Since entering the Croatian market in 2006, when it opened 13 stores in one day, over the past nine years Lidl has expanded its network by opening 86 stores and employing over 1,700 people. Together, the revenues of the Schwarz Group in Croatia exceed HRK 6bn.
Spar saw a 9.1% growth in revenue to HRK 2.2bn, thanks to the completion of the takeover of 20 Diona stores. In comparison, Spar reported a loss of HRK 115mn in 2013. With the exception of Lidl, all foreign retailers in Croatia have been operating at a loss.
Tommy, owned by Split-based businessman Tomislav Mamic, earned HRK 59 mn (+53% y/y) with revenue rising 4.4% to HRK 2bn. Tommy has a total of 177 stores.
Local retailer Studenac achieved HRK 1.2bn in turnover and HRK 48mn profit.
The worst performers were Mercator and Metro. The former saw a 25% drop in income due to the merger with Agrokor/Konzum and the sale of some stores, while the latter saw a 0.4% y/y drop in revenues to HRK 1.7bn and reported a loss of HRK 20mn.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic
