Coop Italia, 2023 turnover of 16.4 billion euros, +2% on 2022, 90% with wine & food

A turnover of 16.4 billion euros in 2023, +2% on 2022 (of which 14.8 billion developed only from the retail part, and deriving from wine & food for a share of around 90% of the total ), with a “market share” of 11% of the national large-scale retail trade, which confirms Coop as the second player in the sector, with impressive growth, as per the industrial strategy, of the distributor’s own brand product, which reached 4.5 billions of euros in turnover and a 40% share of the total volume. These are the main numbers of Coop Italia’s 2023 budget, which sees the continuation of “the positive repositioning path that achieves the set objectives”.
Among the most important data, the employment generated, explains an official note, stands at just under 59,000 employees, with a decrease of 1.5% on the previous year, the result of the reconfiguration of the sales network. At the same time, the percentage of women in management roles is increasing, reaching almost 35%. “A figure that has been growing for years and testifies to Coop’s commitment to the issues of inclusion and gender equality. It is no coincidence that last February Coop, the first in large-scale retail trade, obtained the Gender Equality Certification according to Uni Pdr 125″. The social base data remains unchanged; there are over 6.2 million members (over a quarter of Italian families own the 75 associated cooperatives) with a prevalence of women (58.1%). Going into detail, in 2023 the aggregate of the 7 largest cooperatives recorded economic results with a clear improvement over previous years. The operating result becomes stably positive again (0.2% of turnover) with an increase of over 115 million on the previous year. An improvement due to the improvement in added value (15.8%, +1% on 2022) and a cost containment which however had to take into account the increase in energy costs and the first effects of the renewal process of the national collective agreement of work. Ebitda stood at 3.7% and Ebit itself returned close to parity (-0.2%) despite a year marked by the effects of inflation dynamics, the consequent difficulties in final demand and the tightening of competition (especially ) of discount stores. Furthermore, the strong capitalization of the cooperatives is confirmed (6.5 billion in own capital) and the progressive reduction of indebtedness, in particular short-term debt (down by 1.1 billion in the last year). The social loan stands at just over 7.2 billion with over 1 million lending members, to whom the cooperatives have distributed 23 million in interest.
For Coop, an official note further explains, it was also the year in which the repositioning project which brought approximately 5,000 new products to the shelves in the space of two years brand (among previously unpublished proposals, reformulations and packaging changes). An innovation in the overall offering which has made the Coop brand a leader in 80% of the categories with a penetration rate exceeding 95% (i.e. 95% of Coop members and consumers have placed at least one product in their cart branded). The incidence on total sales exceeded 40% and at the end of 2023, the turnover generated by the Coop brand product reached 4.5 billion euros. “The defense of the purchasing power of Coop members and consumers remains a priority at the center of the initiative”.