SPAR Hungary has reported a turnover of HUF 1 trillion (€2.6 billion) in its full financial year 2023, registering an increase of 15.79% compared to the previous year.
SPAR Hungary's store network comprised 641 outlets under the SPAR brand as of the end of 2023, the company noted.
The company invested HUF 10 billion (€26 million) in opening five new stores during the year and renovating some shops.
It invested HUF 3 billion (€7.8 million) in its second INTERSPAR hypermarket in Debrecen, and HUF 2.4 billion (€6.24 million) in two new stores in Sárospatak and Békéscsaba and two in Budapest.
The renovation project involved SPAR supermarket in Körmend and four stores in Budapest and the retailer spent HUF 4.5 billion in total.
Since entering the market in 1991, SPAR has invested a total of HUF 539 billion in Hungary up to the end of 2023.
It employs around 17,000 people across its business, including company operations and independent retailer-operated stores.
In 2023, the number of independently-run stores grew by 25 to close the year with 273 outlets.
Annual Highlights
SPAR Hungary expanded its online platform to offer its services in more than 200 locations.
It offers over 14,000 products and since August 2023, shoppers can choose to receive their orders in paper bags or without packaging.
The fourth season of the Hungaricool competition, through which SPAR supports local businesses, saw applications from 179 businesses offering 301 products
INTERSPAR Hypermarkets introduced 37 new products from nine winning brands by the end of the year.
Elsewhere, the company continued to invest in energy-saving fixtures during the construction and renovation of stores as part of its sustainability efforts.
In association with Nestlé Hungária, SPAR Hungary offers online advice on food waste and sustainable diets.
In 2023, the company used nearly 14 tonnes less paper as it rolled out digital solutions to reduce paper-based administration tasks.
