French retail group Auchan has posted an increase in revenue for 2009 of 0.5 per cent, or 3.7 per cent excluding petrol and at constant exchange rates), thanks to its strong performance outside of western Europe.
As a result of the economic slowdown, revenue fell by 2.8 per cent in western Europe, the group’s principal market, accounting for 76 per cent of revenue.
However, revenue increased by almost 13 per cent in central and eastern Europe and Asia, driven by steady expansion.
EBITDA increased by 3.9 per cent to €2.35bn, a sign of the group’s resilience and efficient cost control, according to chairman Christophe Dubrulle.
Commenting on the results, he stated: “The significant growth in revenue and EBITDA reflects the Auchan group’s firm resilience. The motivation of our 243,000 employees, the solidity of our discount policy and a firm belief in the pertinence of our businesses have enabled us to weather the crisis in satisfactory conditions.
“We have entered 2010 prudently, but with renewed confidence in our objectives and strategic choices. We intend to maintain investment at a level similar to that of 2009 in order to pursue our expansion. 2010 will feature the opening of more than 60 hypermarkets and around 20 shopping centres, the fine-tuned adaptation of the Simply Market business model and completion of its rollout in Italy.”
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