Dutch online grocer Picnic has generated profit in the Netherlands in its 2023 financial year, despite overall losses in the business growing to €220.6 million, from €208.7 million the previous year, according to media reports.
The online grocer's overall turnover grew 34% in 2023, to €1.2 billion, according to reports, citing data from the Dutch newspaper, Financieele Dagblad (FD).
The company attributed its positive performance in the Netherlands to the implementation of robotised distribution in Utrecht, which helped improve efficiency.
Picnic did not disclose its exact profit figures, but its total revenue for the full year 2023 in the country increased 28% year-on-year to approximately €800 million.
Picnic, which operates in 450 cities, saw a 30% increase in customer numbers, to around 2.3 million, as of the end of 2023.
The company's sales increased by 41% in Germany and 147% in France during the financial year.
Investments
In January of this year, Picnic said in a statement that it raised €355 million from its investors and plans to further expand in France and Germany.
The company has already opened distribution centres in Hamburg and Berlin in Germany, and in Paris, France.
Picnic, which was founded in 2015, said investors taking part in the fundraising included The Bill and Melinda Gates Foundation Trust and German supermarket group Edeka.
In August of last year, the company expanded its business to Hesse, Baden-Württemberg and Rhineland-Palatinate in Germany, weeks after launching its services in Hamburg and Berlin.
Picnic also opened its first fulfilment centre in south-west Germany in Viernheim, creating more than 300 jobs.
As the groceries are sold directly from the warehouse to the customers, the company saves on operating costs. It also cuts food waste as products are only delivered if ordered by 11pm the previous evening.
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