The list of the Top-10 supermarkets registered losses of 28% in 2022, with the net profitability index falling to 1.34%, compared to 2.03% in 2021 and 1.75% in 2019.
The inflationary footprint was reflected on the 2022 balance sheets of 35 companies in the supermarket sector, as price increases have driven revenue growth and the overall liquidity performance, but shrank profitability ratios and increased operating costs.
According to the “Panorama of Greek Supermarkets” edition of Boussias Communications, which includes the balance sheets of 35 companies (not included: Lidl Hellas, it does not publish financial statements as it is not a SA and SYNKA, which until the end of October had not published a balance sheet), 2022 closed with an increase in sales by 8.44% compared to 2021, to 11.18 billion euros. In the Top-10 market, turnover rose 8.65%, to 10.6 billion euros in 2022.
In terms of profitability, the ten largest supermarkets presented in 2022 net results before taxes of 144.35 million euros, down 28.07% compared to 2021 (200.69 million euros). Therefore, the net profitability ratio of the “ten” was 1.34%, compared to 2.03% in 2021 (and 1.75% in 2019).
The net profitability of all 35 companies in the sample stood at 164.88 million euros, compared to 228.96 million euros in 2021. Therefore, the net profit margin in 2022 was 1.47%, versus 2.22% in 2021. This trend dominated in the sector’s businesses and is largely due to the increase in operating costs and inventory management costs – purchases, due to revaluations.
