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Good balance sheet presented: Chairman of the Supervisory Board Erich Stockhausen in Prague I Photos: Achim Bachhausen
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Annual General Meeting of the REWE Group
A big leap upwards
by Achim Bachhausen

Despite all the crises, the Supervisory Board, Management Board and top management of REWE Group looked back on a very successful 2023 at this year's Annual General Meeting. The mood among the 140 attendees in Prague was correspondingly good at the weekend.

A strong increase in group turnover to a new record of 92.3 billion euros and a further improvement in results: These were once again impressive figures that our CFO Telerik Shishmanov was able to present to retailers and top management at this year's Annual General Meeting of REWE-Zentral-Finanz eG in Prague. The Retail Germany Business Area alone contributed an impressive 40.35 billion euros to the record turnover.

According to Supervisory Board Chairman Erich Stockhausen, this impressive "leap upwards" becomes even clearer when you take a closer look at the long-term development over the past ten years: since 2013, REWE Group has doubled its revenue and even quadrupled its earnings.

"Two per cent earnings was always the target, and we have achieved it. Including the results of the independent retailers, earnings totalled around two billion euros," Stockhausen noted. He was "a little proud to see this very positive development", the Chief Controller told the 140 participants at the Annual General Meeting. For Stockhausen, it is the result of years of consistently good, trust-based cooperation between the Management Board, management and Supervisory Board.

„The start to 2024 was challenging and sporty. But I am certain that we will achieve or even exceed our goals. This means a lot of work and commitment, but I am convinced that we will succeed with our strategy - which we are still very well positioned with - and our top teams. Our employees ultimately make the difference. We attach great importance to bringing the right people on board and keeping them with us.“
Lionel Souque, CEO of the REWE Group

Despite all the justified joy about the good figures, the "business remains challenging for all of us", warned Lionel Souque. "The permanent crisis is becoming the norm," concluded our CEO, referring to the global political situation characterised by disasters and wars, which is also having an impact on the procurement markets. The prices of some raw materials are still at record levels. Fortunately, however, this does not apply to all of them: "Overall, inflation has weakened considerably," Souque noted. After a sporty start, the CEO was optimistic about the current year: "This means a lot of work and a big challenge. But I am sure that our teams will manage it. We are still well positioned with our strategy." Another reason for optimism for Souque and Stockhausen is the successful entrepreneurship within the Kaufmannschaft that characterises the Group.

Since the "Munich Declaration" and the launch of REWEformer 15 years ago, the Management Board and Supervisory Board can point to an impressive track record. Between 2009 and 2023, the number of retailers increased by 62 per cent to around 1,550, while revenue per retailer rose by a whopping 176 per cent. And the number of retailers has climbed by 78 per cent to over 2,000 locations.

Are you interested in more facts, figures and data on REWE Group's business development?Click here for the 2023 Annual Report.

140 participants attended the Annual General Meeting in Prague.
CFO Telerik Shishmanov
All resolutions and discharges were passed unanimously.
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