Online supermarket Picnic closed 2023 profitably, but the bottom line is still deep red.
And that will remain the case for some time, because Picnic prefers market share over results in this growth phase. It is also given the space to do so by its shareholders.
In a interview with the FD CEO Michiel Muller describes the profit figures as modest. If the profit (EBITDA: profit without special charges) were to be extrapolated to the entire year, it would amount to four million euros.
Muller told the FD that Picnic was profitable in the last month of 2023. He previously spoke to Distrifood about ‘last months’, plural.
Internationally, Picnic’s net turnover grew by 34 percent to 1.2 billion euros. In the Netherlands, the supermarket grew by 28 percent to 796 million euros. Converted, this means that turnover in Germany and France is 404 million euros. The vast majority of this comes from the Ruhr area in Germany, Berlin, Hamburg and Stuttgart.
According to director Muller, Dutch profitability is directly related to the high degree of automation of the warehouses. The distribution centres in Utrecht and Dordrecht are the furthest along in this respect. They can therefore operate most efficiently.
Source: www.emerce.nl
