Alex Trelinski
SPAIN’S leading supermarket chain Mercadona posted record net profits last year of €1.3 billion.
That was a rise of 37% on 2023 and an all-time high in its almost 50-year history of trading.
Sales continued to grow reaching €38.8 billion- an annual increase of 9%.
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The Valencia-based business declared its results on Tuesday in its home city during a news conference hosted by its chairman-owner, Juan Roig, who described the figures as ‘spectacular’.
Spain’s lower inflation rate helped to account for the strong increase in Mercadona’s revenue.
Juan Roig pointed out that income rose despite the average price of a shopping basket at the store falling in 2024 by 2%- an equivalent of €6.
During last year, Mercadona cut prices in February and July at a cost of €150 million, reducing prices on around 1,000 items with an annual saving of €150 per basket.
“Raw material prices have performed better and we always lower or raise prices based on that factor,” said Roig.
“Mercadona is doing very, very well. Why? Because we are in two countries where the economy works very well, Spain and Portugal. And because we have a great model and we make many decisions, brave, sometimes unpopular and annoying,” he added.
Mercadona ended 2024 widening the gap on its rivals, going up to a 26.6% of the national operator market share- up 0.5%- according to Kantar Worldpanel.
It’s share figure was more than Carrefour, Lidl, Eroski and Dia combined.
