Trading update first quarter 2023 

Veghel, 20 April 2023 - Sligro Food Group N.V. generated €634 million in revenue over the first quarter of 2023, up €166 million or 35.5% on the revenue of €468 million posted in the first quarter of 2022.

The revenue increase in the first quarter was positive, as expected. In the first few weeks of 2022, lockdowns were still in place, which ended over the course of that quarter. In increasing our revenue, we have exceeded the market in both countries and further reinforced our position.

Revenue growth in the Netherlands was entirely organic. In Belgium, the revenue came from the outlets acquired from Metro, which generated €31 million in revenue in the first quarter. We are delighted about and proud of the way we reopened the outlets following the acquisition. The revenue levels posted in the first quarter are encouraging.

We refrain from making concrete predictions about the half-year results. Instead, we focus our attention once again on several exceptional elements that are important or have the greatest impact in the first half-year in particular. In 2022, we posted a one-off book profit on the Smeding transaction. In 2023, we are facing additional SAP amortisation charges and start-up losses for the outlets acquired from Metro. The finance costs are increasing, due to general interest rate developments in the market.

The half-year figures will be published on 20 July.

On behalf of Sligro Food Group N.V.

Koen Slippens, CEO
Rob van der Sluijs, CFO

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