REWE Group successfully closed the 2021 financial year with strong sales growth of around 2 billion euros, once again demonstrating its strong performance under the challenging conditions of the coronavirus pandemic. External revenue from continuing operations increased by 2.5 per cent from 74.6 billion to 76.5 billion euros.
Lionel Souque
Lionel Souque, CEO of the REWE Group, said on the occasion of the publication of the unaudited business figures for 2021: "We are very satisfied with the strong economic development of our trading and tourism company in Germany and abroad. Unfortunately, the past year was also characterised by numerous burdens caused by the coronavirus pandemic. Our Travel and Tourism division once again suffered as a result; and unfortunately, the lockdown at the beginning of 2021 also had a negative impact on revenue in our DIY store division. It is therefore all the more pleasing that we were not only able to maintain the extraordinarily strong growth in food retail sales in 2020, both in Germany and in our European markets outside Germany, but were also able to increase them again in some cases. This was not a matter of course for us when planning for the 2021 financial year. It is therefore all the more pleasing that we exceeded our planned budgets. We are and will remain on a dynamic course of profitable growth. I would like to express my sincere thanks to our 380,000 employees in Germany and abroad, who are the key to our Group's success and who have once again done an outstanding job."
The business of independent REWE retailers in Germany once again showed above-average positive development, achieving a further increase of 4.8 per cent in the past financial year after sales growth of 20.5 per cent in 2020.
Souque also emphasised the operational strength and innovative power of the cooperative group of companies. "Even in the second year of the coronavirus pandemic, we proved that our business models in Germany and abroad are very robust and that we are continuing to grow organically under our own steam despite all the challenges. Among other things, the development of Lekkerland's convenience business, which has developed very positively, was impressive. At the same time, we are working nationally and internationally on the continuous modernisation of our business, on new business models and on the comprehensive digitalisation of our company. Examples of this in the past year include the switch from Merkur to Billa Plus, the roll-out of the market hall concept at PENNY, the numerous tests with innovations such as REWE's first Pick&Go store and the new generation of green building stores, as well as the strategic investment in Flink and the investments of our DER Travel and Tourism Group in Aldiana and DSR Hotels."
The Cologne-based retail and tourism company's investments rose from around 1.9 billion euros in 2020 to 2.3 billion euros in the past business year. REWE Group is planning investments totalling 2.3 billion euros for the current year.
REWE Combine
REWE Combine's revenue from continuing operations - excluding independent retailers and at-equity companies - rose by 2.5 per cent last year (adjusted for exchange rate effects: + 2.4 per cent) from 67.7 billion to 69.4 billion euros. REWE Combine grew in Germany by 1.2 per cent to 47.2 billion euros and abroad by 5.5 per cent (adjusted for exchange rate effects + 5.2 per cent) to 22.2 billion euros.
The operating result EBITA increased from 1.22 billion euros in 2020 to 1.49 billion euros.
The consolidated annual result EAT rose from 415 million to 756 million euros.
The REWE Combine Group's EBITDA totalled 4.4 billion euros after 4.3 billion euros in 2020.
Investments in property, plant and equipment and intangible assets totalled 2.3 billion euros, around 400 million euros more than in the previous financial year.
Equity rose from 7.6 billion to 8.6 billion euros. Net financial debt excluding lease liabilities stood at 2.2 billion euros as at 31 December 2021.
The full-range national business achieved an increase in turnover of 0.9 per cent to 26.7 billion euros. This figure includes the retail sales of REWE shops and wholesale sales with retailers and other partners.
In the full-range International segment, Billa Russia was sold in the past financial year. This left the supermarket and drugstore activities in Austria, the Czech Republic, Slovakia, Bulgaria, Croatia and Lithuania.
Revenue increased by 2.6 per cent overall (2.2 per cent adjusted for exchange rate effects) from 9.8 to 10 billion euros. Revenue in the Austrian full-range segment with Billa, Bipa and Adeg increased by 2.3 per cent to 7 billion euros. In the full-range CEE segment, revenue grew by 3.2 per cent (adjusted for currency effects by 2 per cent) to 3.1 billion euros.
In the Discount National segment, PENNY Germany achieved sales revenue of 8 billion euros in 2021, the same level as in the previous year.
In Discount International, PENNY achieved a combined sales increase of 1.8 per cent (adjusted for exchange rate effects + 1.6 per cent) to 5.6 billion euros in Italy, Austria, Hungary, Romania and the Czech Republic.
The Convenience business segment with the national and international business of the Lekkerland Group grew by 4.4 per cent from 13.1 billion to 13.7 billion euros.
Revenue in the DIY store business segment, which includes toom Baumarkt DIY store, fell by 11.4 per cent compared to the very strong previous year, from EUR 2.7 billion to EUR 2.4 billion.
By contrast, revenue in the Travel and Tourism business segment rose by 57.5 per cent from EUR 1.3 billion to EUR 2.0 billion in the past financial year following the slump in 2020, reaching 41 per cent of the revenue generated in the 2019 financial year before the coronavirus pandemic.
"English version"
REWE Group successfully concluded the 2021 business year with a strong turnover increase of around 2 billion euros, again delivering evidence of its performance strength in the challenging environment caused by the coronavirus pandemic. Total external turnover from continuing operations rose by 2.5 per cent from 74.6 billion euros to 76.5 billion euros.
Upon publication of the not yet audited business figures for 2021, Lionel Souque, CEO of REWE Group, said: "We are very satisfied with the strong economic development of our retail and tourism company in Germany and abroad. Unfortunately, the past year was also impacted by the many problems caused by the coronavirus pandemic. Our Travel and Tourism division again suffered and the lockdown at the start of 2021 was also not without negative effects on the revenue of our DIY Stores division. It is therefore all the more gratifying that we have not only sustained but in some cases also improved on the extremely strong revenues recorded by food retail in Germany and our European markets in 2020. This was not a foregone conclusion when planning for the 2021 business year. We can therefore be all the more pleased that we have exceeded our planned budget. We are and remain on a dynamic course of profitable growth. I would like to very sincerely thank our 380,000 employees in Germany and abroad who are the key to our Group's success and have once more delivered an outstanding performance."
The business of REWE independent merchants in Germany again showed above-average positive development, posting a turnover increase of 4.8 per cent in the past business year following growth of 20.5 per cent in 2020.
Souque also emphasised the operational strength and innovativeness of the cooperative business group. "In the second year of the coronavirus pandemic, we have again proven that our business model in Germany and abroad is very robust and that we are continuing to grow organically despite the many challenges. Among other things, the very positive performance of the Lekkerland convenience business was impressive. At the same time, we are working nationally and internationally on the continuous modernisation of our business, new business models and the extensive digitalisation of our company. Examples last year include the switch of Merkur to Billa Plus, the roll-out of the PENNY market hall concept, the many tests of innovations such as the first REWE Pick&Go market and the new generation of Green Building markets, the strategic investment in Flink and the investments by our DER Travel and Tourism Group in Aldiana and DSR Hotels."
Investment by the Cologne-based retail and tourism company rose from around 1.9 billion euros in 2020 to 2.3 billion euros in the past business year. REWE Group is planning investment of 2.3 billion euros in the current year.
REWE Group
The turnover of REWE Group - not including independent retail and at-equity entities - from continuing operations rose by 2.5 per cent (2.4 per cent after exchange rate adjustment) from 67.7 billion euros to 69.4 billion euros. REWE Group in Germany grew by 1.2 per cent to 47.2 billion euros and internationally by 5.5 per cent (5.2 per cent after exchange rate adjustment) to 22.2 billion euros.
Operating EBITA grew from 1.22 billion euros in 2020 to 1.49 billion euros. Consolidated EAT climbed from 415 million euros to 757 million euros. EBITDA of REWE Group amounted to 4.4 billion euros after 4.3 billion euros in 2020.
Investment in tangible and intangible assets was 2.3 billion euros, around 400 million euros more than in the previous business year.
Equity capital climbed from 7.6 billion euros to 8.6 billion euros. As of 31 December 2020, the net financial debt without financial leasing totalled 2.2 billion euros.
The supermarket business segment in Germany achieved a turnover increase of 0.9 per cent to 26.7 billion euros. This included the retail sales of the REWE branches and wholesale revenue with merchants and other partners.
In the international supermarket business segment, Billa in Russia was divested in the past business year. The supermarket and drug store activities in Austria, the Czech Republic, Slovakia, Bulgaria, Croatia and Lithuania were retained.
Turnover increased by a total of 2.6 per cent (2.2 per cent after exchange rate adjustment) from 9.8 billion euros to 10 billion euros. In the supermarket store sector in Austria with Billa, Bipa and Adeg, turnover rose by 2.3 per cent to 7 billion euros. In the CEE supermarket store sector, turnover grew by 3.2 per cent (2 per cent after exchange rate adjustment) to 3.1 billion euros.
In Discount National, PENNY Germany achieved revenues of 8 billion euros in 2021, on a par with the previous year.
In Discount International, PENNY achieved an overall turnover increase of 1.8 per cent (1.6 per cent after exchange rate adjustment) to 5.6 billion euros in Italy, Austria, Hungary, Romania and the Czech Republic.
The Convenience business segment with the national and international business of the Lekkerland Group grew by 4.4 per cent from 13.1 billion euros to 13.7 billion euros.
Compared with the very strong previous year, revenue in the DIY Stores business segment including toom Baumarkt DIY stores decreased by 11.4 per cent from €2.7 billion to €2.4 billion.
By contrast, following the drop in 2020, turnover in the Travel and Tourism business segment increased by 57.5 per cent in the past fiscal year from 1.3 billion euros to 2 billion euros. It thus achieved 41 per cent of the turnover in the 2019 business year prior to the coronavirus pandemic.
