Spanish supermarket chain Mercadona is planning to inject €180 million into its Portuguese subsidiary to fund continued expansion plans in the country throughout 2024.
The additional investment will directly support the opening of 11 new stores in Guarda, Oliveira de Azeméis, Coimbra (Solum and Eiras), Leiria, Évora, Vila Nova de Gaia (Canelas), Sintra (Rio de Mouro), Maia (Moreira), Seixal (Fernão Ferro), and Barreiro (Lavradio).
Mercadona also plans to complete the Almeirim logistics hub in July of this year. It is its second in Portugal and the biggest on the Iberian Peninsula.
With this latest contribution, Mercadona's total investment in Portugal will surpass €1.26 billion. The company is committed to long-term growth in the region, prioritising consolidation in Portugal before venturing into new markets.
Operations In Portugal
Since its arrival in Portugal in 2019, Mercadona's operations have yielded positive results. The company boasts an 8% market share and achieved profitability in 2023 (€6.85 million) despite a negative operating result (€7.72 million).
Total overall earnings in 2023 amounted to €35.53 billion, with Portugal contributing €1.4 billion in sales through its 49 Portuguese stores.
This success fuels Mercadona's goals as CEO Juan Roig targets sales of €1.9 billion in Portugal and store count of 60 by the end of this year.
Annual Performance
Mercadona reported a 15% increase in sales, to €35.5 billion, in its 2023 financial year, boosted by its long-term strategy of investing for the benefit of various stakeholders.
Implemented in 2016, investment in this strategy has reached €10 billion in the last seven years, including €1.1 billion in 2023.
The company also achieved a significant reduction in emissions, with a decrease of 38% from 2015 to 2022 in both direct emissions and the removal of greenhouse gases.
