CEO Koen Slippens: ‘As regards economic developments and our sales markets, 2020 was entirely defined by COVID-19. The outbreak of the pandemic and the measures governments took to combat it seriously affected our sales markets. The hospitality industry, sports clubs, stadiums, leisure facilities, corporate catering and events were all hit hard. The delivery channel was affected severely, suffering periods in which net sales fell by as much as 75%. In contrast, cash-and-carry gave many entrepreneurs a good alternative and net sales there even increased. We estimate the Group’s loss of net sales to be €0.5 billion as a consequence of COVID-19.
We were able to increase our market share in the Netherlands by 2.4% to 26.6% due to the good spread of our customer base across various segments in the food service markets, in combination of cash-and-carry with delivery services and the strength of the formula. Our short-term focus was also to offset the drop in net sales and adjust costs and investments to keep the cash in the organisation. We were successful in that regard. In Belgium, we retained our market share and offset the fall in net sales with specific interventions in costs.
We also focused on our financing and liquidity. In constructive talks with our banks and financiers, we tackled various potential scenarios and created extra leeway. It was good to note that we ultimately did not need that extra leeway during the year.
The consequences of COVID-19 will also dominate a major part of 2021. If the vaccination strategy is successful, we expect to see gradual recovery from the second quarter on. On the basis of our experiences in 2020, we know that recovery can happen quickly and that consumers will return to hospitality venues as soon as they are permitted to do so. These assumptions lead us to expect that we will approach our pre-COVID-19 net sales levels during the second half of the year.'
Read more in the press release:
Press release, annual figures 2020.pdf
Annual report
The annual report for 2020 will be published on 5 February.
Presentation
Comments on the annual figures will follow at an online press conference and an online analyst meeting.
The presentation is here available.
In our trading update of 22 April 2021, we will go into developments in the first quarter of 2021 in greater detail, and we will publish our interim figures on 22 July 2021.
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Net profit for the financial year totalled €34 million. The EBIT from our ‘continuing operations’ came in at €44 million, while net sales were up 2.1% to €2,395 million.
CEO Koen Slippens: “Our annual theme for 2019 was ‘Back to Business’. Looking back, it was a year where the major strategic programmes required a lot of our attention, while the markets in which we operate also required considerable attention. Falling consumer confidence and stiff cost inflation in energy and logistics in particular created a challenging market landscape. Although our efforts have this year not yet brought the targeted financial results, they have created a solid basis for growth and better returns over the coming years, and we are confident that we have, therefore, made several important strategic steps forward.
In the Netherlands, 2019 was all about a number of major programmes. The integration of Sligro and Heineken and further reinforcement of our partnership, preparations for the transition to and building of our new online ordering platform and ERP package, the further detailing of our ‘Zelfbedieningsgroothandel van de toekomst’ (Cash-and-Carry of the Future) concept, the changes to the organisation to reduce the loss of synergies due to the sale of EMTÉ, and the acquisition and integration of De Kweker.
In Belgium, hard work has gone into consolidating our market position and strengthening the infrastructure and organisational foundations we need for a strong market position. Although the market in Belgium was equally challenging, the opening of our new store in Antwerp in late 2018 meant we were able to grow faster than the rest of the market. The associated investments and start-up losses put significant pressure on the result in Belgium.
In the coming year, we will prioritise five key focus areas from our long-term strategy, which we have captured in our annual theme for 2020: ‘Give me Five’. Besides completion of a number of major programmes, customer satisfaction and improving returns are also clear focus points. ‘Give me Five’ is specifically also about forging connections. Connections between departments and between the head office and regional operations, based on our firm belief that this is one of Sligro Food Group’s main strengths, and one that we have to reinforce after a period of great change. After the transitional year that was 2019, we are heading into 2020 full of energy and confidence."
Read more in the press release:
Download Annual figures 2019
(88,9 kB)
The 2019 Annual Report will be published on 31 January 2020. In our trading update of 23 April 2020, we will address the developments in the first quarter of 2020. The half-year figures will be published on 16 July 2020.
Would you like to receive press releases of Sligro Food Group in your mailbox? Please sent an e-mail with your name, address and e-mail to Charissa Kleij: ckleij@sligro.nl
October 19, 2023
Location: ZiN Inspiration Lab, Corridor 11, Veghel
Program outline:
12.00 – 13.30: walk-in with lunch
13.30 – 16.00: presentation
16.00 – 17.00: end of the program and a walk-out with an opportunity for a drink
ADDITION / UPDATE for shareholders for the General Meeting of Shareholders.
To further clarify the scope of the paragraph emphasising a matter that Deloitte included in its auditor’s report for the 2022 financial year. Following questions submitted prior to the General Meeting of Shareholders we refer to the enclosed letter.
Shareholders of Sligro Food Group N.V. are convened for the Annual General Meeting to be held at 10.30 a.m. on Wednesday 22 March 2023 (the “Meeting”) at Corridor 11 (5466 RB) Veghel
Click here for more information.
The Sligro Food Group annual report 2021 is published on 3 February 2022. The English version will be available next week.
Click here for the annual report (in Dutch) >>>
For more information or a hard copy of the annual report, please contact us by e-mail:
Charissa Kleij: ckleij@sligro.nl
In compliance with the provisions of the ‘Temporary COVID-19 Justice and Safety Act’ (Tijdelijke wet COVID-19 Justitie en Veiligheid), the Meeting could only be attended by electronic means. This means that the AGM could not be physically attended. Shareholders participated in the meeting via Teams.
Click here for the procedure and more informatie.
The Sligro Food Group Annual Report 2020 is published.
To the Annual Report >>>
For more information or a hard copy of the annual report, please contact us by e-mail:
Charissa Kleij: ckleij@sligro.nl
The Sligro Food Group annual report 2019 is published on 31 January (Dutch) and 5 February 2020 (English)
Click here for the annual report online >>>
For more information or a hard copy of the annual report, please contact us by e-mail:
Charissa Kleij: ckleij@sligro.nl
Due to the worsening situation regarding the coronavirus, it has been decided that the AGM of 18 March 2020 will not take place.
A new AGM will be convened for a date yet to be determined. The convocation will be made in accordance with the applicable rules in due course.
Veghel, March 13, 2020