EDEKA Group increases sales and earnings
2,4 percent plus in 2003 - supermarkets hold their own
The EDEKA Group can close the 2003 financial year with a significant improvement in sales and earnings. In a market that was stagnating overall, the Group's sales in Germany and abroad, reported for the first time on a net basis, rose by 2,4 percent to EUR 31,27 billion, according to preliminary figures. This includes the revenues of the Bielefeld subsidiary AVA AG and sales with cooperation partners such as the St. Wendeler Globus Group.EDEKA's own business in Germany developed positively. Compared to the previous year, the EDEKA Group's sales rose by 2,9 percent to EUR 24,6 billion. "We successfully asserted ourselves in a tough competitive environment," says Alfons Frenk, CEO of EDEKA Zentrale AG. The result has improved by around 20 percent thanks to cost reductions and better purchasing conditions. For comparison: in the previous year earnings before interest and taxes (EBIT) were 1,5 percent.