Consum, a Valencian cooperative, reported a turnover of 4,388.7 million euros last year, marking an impressive 13.6% increase from the previous year. The company’s results grew by 75% to reach 101.1 million euros, attributed to cost containment efforts and significant savings on the energy bill, estimated at 40 million euros.
Consum ended the year with 933 supermarkets, including both owned and franchise locations spread across six autonomous communities. The company employs 21,216 workers.
The supermarket chain saw a 10.2% increase in sales and ranked sixth in national distribution companies by area. Antonio Rodríguez, general director of Consum, shared these details in Valencia on Tuesday.
Rodríguez emphasized that the profit growth was a result of the cooperative’s competitive efforts and successful energy cost savings. He highlighted the challenges posed by high inflation and increasing costs in the market but expressed confidence in maintaining competitive prices for consumers.
Consum invested 167 million euros in new supermarket openings and renovations in 2023 and plans to continue this pace in 2024 with another 50 new supermarkets and investments in innovation projects such as digital technologies. Rodríguez mentioned that sourcing from national suppliers is a priority for Consum, with over 80% of fresh food products being of national origin.
Regarding online sales, Consum currently represents just over 1% of the market but has plans for future growth. Rodríguez also mentioned the company’s focus on sustainability initiatives such as using renewable energy sources and installing photovoltaic panels on rooftops of supermarkets to reduce carbon emissions.
In conclusion, Consum is performing well despite market challenges due to its competitive efforts and successful cost-saving strategies. With continued investments in innovation projects such as digital technologies and sustainability initiatives, it looks like this cooperative will continue to thrive well into the future.