German retail operator Rewe Group saw its turnover break through the €50bn barrier for the first time last year and, according to chief executive Alain Caparros, the company remains on course to exceed that total in 2010 despite a challenging economic climate.
At a press conference in Cologne, Mr Caparros confirmed that Rewe's combined turnover rose by 2.7 per cent in 2009, reaching a record level of €50.9bn.
It was also revealed that the group's turnover totalled €8.9bn in the first quarter of this year, a 3.4 per cent increase over the same period last year.
'Despite the uncertainties, the Rewe Group is cautiously optimistic about the second half of the year,' Mr Caparros said. 'I believe that we will also be successful in 2010 thanks to our clear customer focus and the high-performance concepts of our supermarkets and discounters.'
Growth in the highly competitive German market, described by Mr Caparros as 'dynamic', meant the group was able to increase its total domestic turnover by 3.4 per cent to €34.9bn last year.
Furthermore, although eastern European markets were hit particularly hard by the economic crisis, Rewe still managed to boost its total turnover outside Germany by 1.1 per cent to €16bn during 2009.
Independent retailers belonging to the Rewe cooperative generated a 5.4 per cent increase in turnover to €8.8bn in Germany and Austria. In the German market, independent Rewe retailers produced a 3.8 per cent increase in turnover to €8.4bn.
In terms of investments, Rewe's spending fell 44.2 per cent to €1.8bn in 2009, a dramatic fall explained by the €3.2bn invested during the previous year primarily on the successful acquisitions of discounter Plus in the Czech Republic, and extra and ADEG stores in Austria.
'The Rewe Group emerged in a strengthened position from the difficult year of 2009 for retailers,' Mr Caparros commented. 'Our bold decisions and far-sighted acquisitions are paying off. The company produced positive results in every relevant key performance indicator.'
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