The cooperative closes the 2023 budget positively, with sales of 2.9 billion. A year marked by the commitment to convenience and the protection of purchasing power.
With the December initiative of a 10% discount on all spending, the cooperative redistributed 29 million euros to members. The solidity of the business is strengthened, the number of partners and employees is growing
It ends with a positive result The Unicoop Florence 2023 budget. In the year of his Fiftieththe cooperative carried out its activity in 110 points of salewith gross sales revenue retail equal to 2.9 billion Euroswith a sales increase of 9.9% in value he was born in 2.8% by volume compared to the previous year, a figure that goes against the trend of the food trade which, in 2023, recorded a loss in sales volumes of 3.9%.
The budget highlights a operating profit of 25.5 million euros, net of taxes of 11.4 million euros. The management of the year just ended was inspired in particular by protection of the purchasing power of members and customers and to mutualistic purpose which is the basis of the cooperative: in response to the difficulties of families, over the course of the year the cooperative developed many initiatives on convenience, from shopping vouchers to the Anti-inflation Quarter and, at the end of the year, decided to redistribute to the members 29 million euroswith the 10% discount on all purchasesfrom 1° to December 31st. In a context marked by the collapse of the purchasing power of families and in which inflation has grown twice as fast as wages (source: Istat – Bank of Italy), the cooperative has acted strongly to protect spending and, at the same time, to safeguard the solidity of the business. The discounts reserved for membersincluding spending points, have reached 190 million euroswith an increase of 43% compared to 2022.
Thanks to the positive result of 2023, the cooperative’s net worth grows again this year, reaching 1,781 million euros. The social loanwhich amounts to 1,400 million euros, is fully covered so as to fully and immediately guarantee the commitment made towards the members. During 2023 the cooperative operated three upward variations in the loan remuneration ratearriving at1.3% gross for ordinary deposit and others 4% gross for the tied one. In a negative economic context, where inflation has also penalized savings, it has thus guaranteed further help to lending members.
Also the trend of social basis closes with a plus sign: as of 31 December 2023 the cooperative counts 1,113,722 members, with an increase of 10,298 people (+0.9%) compared to 2022.
As of December 31, 2023, they work in a cooperative 8,648 peoplewith an increase of 387 jobs (+4.68%); 2023 also records an increase of 214 permanent contracts compared to 2022. Of the total workers, 85% are permanent and the 66% are women. The standard was also maintained in 2023 distribution of 25% of commercial profits to workers.
«In 2023 the cooperative has pushed its commitment to the maximum to protect the spending of members and customers: many convenience initiatives that we have developed, and among these the 10% discount at the end of the year with which we redistributed as many as 29 million to members of Euro. In a context of continuing contraction in consumption, the positive numbers in our balance sheet show that consumers have rewarded us with their daily choices, also expressing a growing appreciation for the Coop brand product, the convenience leader in our commercial offering. The current context presents many critical elements: declining consumption, an aging population, young people in difficulty, work that is missing or not paying; on the great stage of history, then, wars, climate crisis, artificial intelligence. 2024 asks us for a great commitment on the issues of the environment, sustainability and support for the most vulnerable: we have a great wealth of values and good business solidity with which we will face, as we always have, this great complexity” declares Giulio Banimanaging director of the administration area of Unicoop Florence.
Convenience
In a still difficult year for the country, the cooperative has constantly used resources to guarantee a concrete help for families. The commitment to maintaining the primacy of convenience is reflected in various indicators from external and internal sources. In 2023 the price index of food, home and personal care goods (Istat survey of the “shopping cart”, 2023 variation on 2022) increased by 9.5% nationally, of 8.3% in the Municipality of Florence and on the 7th.8% in the survey on prices applied by Unicoop Florence, a lower value than the national figure and that of the Municipality of Florence. The Iri Price Index processing, a third and independent survey carried out in September 2023, certifies that the cooperative is positioned with an index on the total assortment of 97.3 compared to the average 100 of the prices charged by hypermarkets and supermarkets in the seven Tuscan provinces in which Unicoop Firenze is present: with a differential of -2.7 points compared to the operator averagethe high convenience offered by the cooperative is therefore confirmed.
From Nielsen calculations it also emerges that the Tuscany it is the third most convenient region in Italy, after Veneto and Campania: given the average of the prices charged by national hypermarkets and supermarkets, Tuscany is positioned on a index of 98.8. It is clear that the cooperative’s work directly contributes to controlling price levels in the territories where it is present.
Territory
The balance sheet also shows positive numbers on the health front protection of the territory and of enhancement of the local economywith a particular commitment in the fruit and vegetable, bakery, gastronomy, fish and meat sectors: in 2023 the cooperative collaborated with over 700 Tuscan companiescorresponding to 34% of total suppliersof food and non-food products, for a turnover exceeding 25% of the annual turnover upon purchase of the cooperative. According to Irpet estimates, Unicoop Firenze’s overall contribution to the Tuscan economy is 1.2 billion Euroseven to 1% of the regional GDPwith a direct and indirect workforce of 14,531 workers.
Digital services
In 2023 the cooperative strengthened its digital services: with Book your shopping, the online shopping service with home delivery, reaches a population of 2.5 million inhabitants, reaching six cities (Florence, Prato, Pistoia, Lucca, Pisa, Siena). A third of online sales are needed pensioners and vulnerable people. Furthermore, the cooperative has started a process of digitalisation thanks to which it offers new services: from the possibility of becoming members online, to accessing your reserved area from which you can activate the web social loan, book events, access budget documents and communicate with the cooperative.
Environment and sustainability
Numerous interventions were developed during 2023 energy efficiency on lighting and refrigeration systems which reduced the release of 472 tonnes of CO2 into the atmosphere and made it possible to save 1.5 million kWh, equivalent to the annual energy consumption of 550 families. From 2007 to today Unicoop Firenze has installed 54 photovoltaic systemsof which 48 are connected to the electrical systems of its stores: self-production of electricity for 2023 was approximately 11 million kWhcorresponding to the annual consumption of 4,074 equivalent families, with one reduction of 5,200 tonnes of CO2 not released into the atmosphere. Thanks to 26 waste oil collection points, in 2023, 245 tons of oil were recovered which, after a subsequent reworking process, becomes raw material for new biofuels. During 2023, in collaboration with Coripet, they were installed eleven new PET bottle collection points, for a total of 16 compactors present in Coop.fi. In 2023 they were collected 10 million and 600 thousand bottlesdonated by 33 thousand members who contributed to the collection.
Solidarity
The red thread of solidarity marked 2023, with various initiatives in Tuscany and beyond: to deal with the flood emergency that hit Tuscany in November, Unicoop Firenze sent the population 50 thousand euros of basic necessities and donated 230 thousand Euros to the regional civil protection. With the “Silence speaks” campaign, dedicated to gender violencewere donated by Tuscan consumer cooperatives 60 thousand euros to anti-violence centers in Tuscany (given Tyrrhenian District). In December, in collaboration with UNICEF And The Heart Melts Foundationwere collected 80 thousand euros forgive 6,400 first aid kits for children living in war zones. Thanks to two food drives of 2023, promoted in collaboration with the Il Cuore si melt Foundation and over 200 local voluntary associations, were donated 376 tons of productsto which they are added 142 thousand packs of material donated with the September school collection.
Source: Press office – Unicoop Florence
