Biedronka with €805 mln EBITDA for 2017

Retailer Biedronka had €805 million EBITDA in 2017, up by 13.8 percent y/y, owner Jeronimo Martins stated. “Within a positive and dynamic consumption environment, Biedronka seized a series of opportunities for sales growth and strengthened its market position. The Company developed its business model without ever compromising cost-efficiency which enables it to simultaneously sustain growth and profitability. Throughout 2017, Biedronka continuously improved its offer, regarding both its regular assortment and in&out food campaigns, bringing innovation and increasing attraction to benefit from the trading-up registered in the market,” the company said in its financial results. LFL sales were up by 8.6 percent, driving a total sales increase of 13.2 percent to €11.1 billion. The company invested €354 million last year in Poland (49 percent of the group’s total capex), including 121 store openings, 226 refurbishments, and a new distribution center. “The Company is aware of the challenges ahead and is prepared for the market changes following the new regulation on the Sunday trade ban. The banner will also continue investing in its operations - including adding 70-80 (net) more stores to its network and improving shopping experience - to ensure it remains the preferred choice of the Polish consumer,” Jeronimo Martins said.