According to the data presented in the 29th edition of Boussias Media’s Panorama of Greek Supermarkets, which is based on the published financial statements of the 43 largest companies in the sector, excluding Lidl Greece, 2024 was a positive year for the industry from a financial perspective.
Despite challenges arising from higher operating and labor costs, as well as inflationary pressures, organic growth and careful expense management maintained satisfactory profitability. In the coming years, companies in the sector are expected to continue focusing on improving efficiency in areas such as operating costs, borrowing costs, and inventory management.
Specifically, the ten largest companies by turnover recorded a sales increase of 4.38%—the same as the overall sample—reaching €11.99 billion, which represents 91.81% of the total market. Once again, the leader of the sector was Ellinikes Yperagores Sklavenitis, with sales of €4.65 billion, up €336.21 million or 7.79%.
Following Sklavenitis, AB Vassilopoulos saw a decline of 1.75% to €1.94 billion, while Metro ranked third, with a 2% increase in sales to €1.62 billion.
The subsequent positions were occupied by: D. Masoutis, up 5.94% to €1.14 billion; ANEDIK Kritikos, up 10.78%, an increase of €75.7 million; Pente, down 3.99% to €514.29 million; Market In, €418.61 million; Bazaar, €248.39 million; and Chalkiadakis, €239.8 million.
Increase in Gross Profit
The data show that gross operating results increased by €161.26 million (+5.39%), reaching €3.15 billion, reflecting the rise in sales. However, the EBIT margin fell to 3.21% from 3.70% in 2023, as operating profits decreased to €421.31 million from €463.41 million. This decline is mainly due to a larger increase in operating expenses (+6.84%) compared to the cost of goods sold (+4.07%). A similar trend was observed among the ten largest chains.
Pre-tax net results for all 43 companies fell by 6.66%, to €215.20 million, while the net profit margin stood at 1.51%, down from 1.68% in 2023 and significantly lower than 2.22% in 2021. Net profits after taxes amounted to €164.98 million. Among the ten largest companies, nine reported net profits, but only two managed to increase them compared to the previous year.
The total operating costs of the 43 chains reached €3.08 billion, up 6.84%. This represents 23.61% of sales, compared with 23.07% in 2023—a high but typical level for the sector in recent years. Among the companies in the sample, 36 recorded an increase in operating expenses, while only seven saw a decrease, and in 30 of these companies, the related ratio increased.
