Annual General Meeting of Shareholders on 9 June 2020
Pursuant to the provisions of the COVID-19 Justice and Security (Interim Measures) Act (Tijdelijke wet COVID-19 Justitie en Veiligheid), the Meeting can only be accessed electronically.
This means that it will not be possible to attend the Meeting in person but it can be followed on a livestream. Although this will not be interactive, shareholders it will be able to submit
written questions before the meeting and to grant a proxy and issue voting instructions.
Click here for the procedures, convocation, agenda and related documents.
Protocol for questions before and during the AGM
Protocol for questions before and during the AGM on 9 June 2020
Pursuant to the provisions of the COVID-19 Justice and Security (Interim Measures) Act (Tijdelijke wet COVID-19 Justitie en Veiligheid), the Meeting can only be accessed electronically.
This means that it will not be possible to attend the Meeting in person but it can be followed on a livestream. Although this will not be interactive, shareholders will be able to submit
written questions before the meeting.
Analysts meeting and Teams call
On Thursday 21 July 2022, Sligro Food Group will publish the Half-year figures 2022.
Analysts meeting
The figures will be discussed in our meeting with analysts, at 13.30 hour.
If you wish to attend the analysts meeting (in Dutch) send an email to Charissa Kleij: ckleij@sligro.nl
Click here for the presentation
Location
Sligro Cash & Carry Amsterdam
Van der Madeweg 39
1115 RD Amsterdam-Duivendrecht
Teams call
Also a Teams call (in English) will be hosted at 3:30 PM CET / 2:30 PM UK / 09:30 AM EST
Would you like to participate in this call? Send an email to Charissa Kleij ckleij@sligro.nl and she will send you a Teams link.
Half-year figures 2020 and conference call
On Thursday 23 July 2020, Sligro Food Group published the Half-year figures 2020.
Analysts meeting
The figures will be discussed at our meeting with analysts, at 13.30 hour. If you wish to attend the analysts meeting (in Dutch) sent an e-mail to Charissa Kleij: ckleij@sligro.nl
Location
Sligro Amsterdam
Van der Madeweg 39
1115 RD Amsterdam-Duivendrecht
Download Presentation Half-year figures 2020
(6,5 MB)
Conference call
Also a conference call (in English) will be hosted at 15:30 PM CET / 14:30 PM GMT / 09:30 AM EDT
Please dial in by using one of these numbers:
Netherlands: +31 20 531 58 51
US: +1 866 349 6093
United Kingdom: +44 20 3365 3210
Belgium: +32 2 400 60 09
Germany: +49 692 222 147 09
An operator will welcome you and put you in the event. Participants are able to dial in 15 minutes prior to the meeting.
2024 half-year figures
Revenue in sales markets under pressure, plans on track
18 July 2024 - Group revenue for the first half of 2024 totalled €1,393 million, down 0.7% on the same
period in 2023. Despite that, our EBITDA was at the same level as last year at €55 million and our operating result grew by €2 million to €6 million. Net profit fell to a loss of €1 million due to rising interest expenses.
Koen Slippens, CEO: “As expected, market conditions are challenging both in the Netherlands and in Belgium. Consumer confidence remains low and the impact of the high level of inflation we have seen in recent years and the poor weather is holding back consumer spending. Even though shifting tobacco sales between different retail sales channels muddies the picture somewhat, the underlying trend is clearly visible.
Away from the developments in the market, we have made a few choices in our organisation that will not contribute to revenue growth in the short term. We have switched our whole Belgian infrastructure to our existing IT environment over the past nine months and are still physically refurbishing several of our sites. Given that both these interventions will help us better serve our customers, we are seeing scope for revenue recovery and growth in Belgium from the second half of the year onwards. In the short term, however, our customers will be inconvenienced.
In addition, we have decided in close consultation with a number of customers to discontinue services whenever there were no prospects for a profitable arrangement for both parties. Both elements are part of our plan to improve returns in the long term, but will result in a revenue drop in the short term.
Since we have only limited influence on market conditions and economic sentiment, our focus within the organisation is mainly on things we can influence directly. On the one hand, this translates to resolute implementation of our plan intended to improve returns, while on the other hand we are putting even greater effort into reducing costs to be able to absorb the impact of rising prices and dropping volumes. We are on track for most elements of our plan, with the exception of the revenue-related initiatives. With these efforts, we are laying the foundation for improvement of our returns, which we believe will pick up momentum as soon as the market starts to recover. Additional cost-saving measures have been identified and are being implemented. In addition, we will be putting a lot of our efforts into customer retention and acquisition in this competitive market, so as to give revenue development a boost.
We had anticipated the difficult market conditions and knew that we were about to put a plan in motion that was going to see us incur costs first and reap benefits later. Knowing that, the figures we are presenting today did not come as a surprise to us. Even so, market developments and inflation are having a greater impact than we had estimated. We are, therefore, still somewhat cautious in our outlook for the second half of the year. We do not expect the market to recover this calendar year and are heading for an operating result (EBIDTA) that is on a par with last year’s.”
Click here for the complete press release (pdf)
Click here for the complete press release (pdf)
In our trading update of 17 October 2024, we will go into revenue developments in the third quarter of 2024 in greater detail.
Would you like to receive press releases of Sligro Food Group by e-mail?
Please sent an e-mail with your name, address and e-mail to Charissa Kleij: ckleij@sligro.nl
2023 half-year figures
Metro integration progressing well, operating EBIT improving.
20 July 2023 - Group revenue for the first half of 2023 totalled €1,403 million, an increase of 24.2% compared to the same period in 2022. In 2022, we posted a large one-off book profit on the sale of our stake in Smeding. Adjusted for book profits, EBITDA was up €5 million to €54 million. Net profit for the first half of 2023 totalled €1 million.
Koen Slippens, CEO: "It is rather tricky to interpret the revenue development in the first half of 2023 due to the major differences compared to the 2022 basis for comparison. A COVID-19 lockdown was still in place in the first weeks of 2022, and this was followed by a spring with good weather. 2023, on the other hand, had a relatively cold and rainy spring. When May this year brought better weather, we saw a clear positive shift in the revenue and result development. Inflation had a major impact on revenue, gross profit and costs.
Our analysis of the market in the Netherlands and Belgium over the past few months shows that consumers are still going out and spending on hospitality. Spending remains strong and the market is growing. This is driven largely by price, as market volumes are under pressure. At Sligro Food Group, we are seeing volumes increase as we grow our customer base and sell more to existing customers, partly through our partnership with Heineken, while volumes are growing in Belgium on the back of our acquisition of former Metro sites. We are continuing to gain market share in both countries.”
Click here for the press release
We always refrain from making any firm forecasts as to the results for the second half of the year. In our trading update of 19 October 2023, we will go into developments in the third quarter of 2023 in greater detail.
On that same day, we will hold our Capital Markets Day from 12 p.m. to 4 p.m., which you can attend at our head office in Veghel. The event will also be streamed.
Would you like to receive press releases of Sligro Food Group by e-mail?
Please sent an e-mail with your name, address and e-mail to Charissa Kleij: ckleij@sligro.nl
Sligro has reopened in Haarlem
Completely renovated
This site has recently been completely remodelled and the result is impressive. The product range has been expanded to include a completely new fresh food department with a diverse selection of meat, fish, game & poultry, fruit & vegetables, and bread & pastries.
Sustainable
Significant investments have been made in the sustainability of the building. Just like all other recent Sligo buildings, this one is now completely gas-free. Heating is provided through the recovery of heat from the refrigeration units, which saves about 65,000m3 of gas and cuts carbon emissions by 118,000kg. The refrigeration systems run on a 100% natural refrigerant. LED lighting saves 49% energy, and the car park is equipped with charging stations.
“The complete remodelling of this outlet was a huge task, since we continued to operate as usual and tried to inconvenience our customers as little as possible,” explains Kees Kiestra, director of cash-and-carry outlets. “This went very well, and as the renovation progressed, customers became almost more enthusiastic than we were! Absolutely every hotel, restaurant and SME can come to us for their commercial purchases.”
Video-impression
Construction of BS Ghent started
The construction of a new distribution center for delivery to our foodservice customers in Belgium has started in Ghent. In our jargon a 'Sligro BS'. This will create a logistics infrastructure in Belgium comparable to the Netherlands for self-service and delivery service customers. This expansion is necessary to be able to optimally process the growth in turnover and the number of delivery customers in Belgium. The expected delivery is in Q2 2023.
Video-impression
2022 half-year figures
Recovery of revenue and result, dividend policy reinstated
21 July 2022 - Group revenue for the first half of 2022 totalled €1,129 million, an increase of 43.3% compared to the same period in 2021 (Q2: increase of 43.7%). Group EBITDA increased by €30 million to €65 million. Net profit for the first six months was €23 million.
Koen Slippens, CEO: "The recovery of our sales markets in the Netherlands and Belgium was already apparent in the first quarter, followed by further strong performance in the second quarter. This was partly attributable to rising price inflation (roughly 7% in the first half of the year), but there was also a sharp increase in volumes. Although the level of consumer confidence in the Netherlands and Belgium would seem to suggest otherwise, spending in the hospitality industry, at amusement parks and at nightlife venues continued to rise month on month. The events sector was also back in business and operating at full capacity.
We are very pleased to see this strong recovery, although the massive scaling up it requires has also led to major operational challenges. Solving supply chain scarcity, staff shortages, transport capacity shortages and coping with the high inflationary pressure on products and services requires the full attention and commitment of our people and partners. Our customers face similar problems. We have tremendous respect for our customers, colleagues and partners who give their all every day to achieve the best possible result under these circumstances, even if that result sometimes falls short of the level we all strive for under ideal circumstances.
The aforementioned effects are also clearly evident in our results. Revenue, margin and costs all rose sharply, but on balance we were able to turn last year’s net loss excluding book profit of €7 million into a net profit excluding book profit of €7 million for the first half of the year.
In the light of this strong return to profit and our strengthened financial position, we feel we have the scope we need to reinstate our dividend policy. We have decided
to pay an interim dividend of €0.30 per share later this year.
In respect of the second half of the year, we do not expect that a recession or re-emergence of COVID-19 will have a significant impact, although we have action plans ready should that happen. The main focus will lie on stabilising our operations after the turbulent restart. This will also be beneficial in terms of controlling costs. We are optimistic and full of energy as we start the second half of the year, because things are going well, but still require our close attention and input!”
Click here for the press release
Would you like to receive press releases of Sligro Food Group by e-mail?
Please sent an e-mail with your name, address and e-mail to Charissa Kleij: ckleij@sligro.nl
2021 half-year figures
Strong recovery after difficult start to the year
22 July 2021 - Group net sales for the first half of 2021 totalled €788 million, a COVID-19-driven decrease of 16.5% compared to the same period last year (Q2: increase of 12.0%). Despite the drop in net sales, the Group’s EBITDA increased by €8 million to €35 million. A net loss of €4 million remained for the first half of the year (net loss excluding impairment in the first half of 2020: €16 million).
Koen Slippens, CEO: "The year started with the strict lockdown that came into effect in the fourth quarter of last year. As a result, we were faced with 20 weeks of lockdown in the first half of the year, compared to 11 weeks in 2020. Additionally, where last year we were allowed to open up our cash-and-carry stores in the Netherlands to private individuals as well for 13 weeks, this was no longer the case in 2021. The sales markets were severely impacted by the effects of the lockdown up to mid-May. With the easing of the measures, we saw a strong recovery, especially in June. In the first half-year, net sales declined by 34% from the pre-COVID levels (Q2: decrease of 24%).
The cost-cutting measures taken and the flexible and decisive approach of our teams in the Netherlands and Belgium ensured that, despite a further dip in net sales, we were able to significantly improve the EBITDA over the first half of the year. Free cash flow was also positive, further reducing our debt position. As a result, we once again remained within the boundaries of our original financing covenants, even though a temporary easing was provided for.
We have been preparing for the restart in recent months, together with our customers and partners. This is now in full swing and we aim to give our customers plenty of scope to start doing business again. Though we are operating in a market marked by shortages of personnel, transport and goods, together we are moving ahead with plenty of energy and passion in order to achieve the best possible results. Sligro Food Group has a good reputation on the job market and is seen as a reliable employer, which helps us to retain and recruit many good employees despite the general job market tightness. For each other, and with each other!."
Click here for the press release
Would you like to receive press releases of Sligro Food Group by e-mail?
Please sent an e-mail with your name, address and e-mail to Charissa Kleij: ckleij@sligro.nl