Sklavenitis Group: 4,47 billion euros in turnover in 2022

Earnings before interest, taxes and depreciation amounted to 226 million euros

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An increase in turnover but a decrease in profitability, due to the absorption of a significant part of the revaluations, was recorded by both the Sklavenitis Group and the Greek Hypermarkets Sklavenitis (EYS) in 2022.

According to the official financial data published today, the turnover of Sklavenitis Group in 2022 amounted to 4,47 billion euros compared to 3,98 billion euros in 2021. Earnings before interest, taxes and depreciation amounted to 276,4 million euros (from 292,7 million euros in 2021). Pre-tax profits amounted to 78,5 million euros (from 92,5 million euros in 2021).

According to sources close to the company, the performance is considered satisfactory if you take into account that 2022 was a year when the organized retail sector, inside and outside Greece, was faced with an unprecedented wave of price increases that affected all categories of food and basic consumer goods, as a consequence of the geopolitical developments between Russia and Ukraine and the historically high prices recorded in energy, raw materials and fuels.

As regards the Hellenic Hypermarkets Sklavenitis (EYS), turnover in 2022 amounted to 3,7 billion euros compared to 3,3 billion euros in 2021. Earnings before interest, taxes and depreciation amounted to 226 million euros against EUR 251,2 million in 2021 and pre-tax profits amounted to EUR 60,1 million from EUR 82,3 million in 2021, 1,6% of total turnover.

According to the same sources, Hellenic Hypermarkets Sklavenitis showed resilience and grew at a higher rate than the market with a sales increase of 12% compared to 2021, a decrease in profitability by 26%, as a result of the significant absorption of part of the revaluations throughout the during the year, but also due to increased operating costs and especially energy costs.

At the same time, within 2022 EYS created 2.352 new jobs, reaching the number of its employees to more than 29.800 in December 2022, while it is noted that from November 1, 2022, it proceeded with salary increases of 17 million euros per year for the majority of its employees and in granting an extraordinary benefit totaling 5,9 million euros for all of its human resources.

Within the previous year, EYS implemented an investment program of more than 50 million euros that focused on the renovation of 20 stores, the strengthening of its network through the new Hypermarket in New Philadelphia and the acquisition of 9 stores in the Ioannina area from SEP Markets Papadopoulos. Also, the investment plan of the previous year included the strengthening of the infrastructures that serve the Sklavenitis eMarket, through the creation of a new Darkstore in the Kifissia area for the optimal service of electronic orders in Northeast Attica, as well as the creation of electric charging stations in 160 stores throughout Greece until the end of 2023, in collaboration with PPC.