Eroski plans to return to profit this year – EntornoInteligente

Expand / Eroski gives closed the conversion cycle of your business and start a new stage in which the quantitative growth will not be a priority, as highlighted by its president, Agustin Markaide.

After refinance last year bank debt by 2,515 million euros to 2019, the chain has fulfilled its commitments to sell assets and network transformation of stores in Spain and now has his sights set on returning to profits stringing in 2016 after seven years in the red.

The group has just sold assets for 700 million -a Dia, 144 supermarkets; Carrefour, 36 hypermarkets; and participation in 11 commercial buildings to a fund managed by Invesco-. Markaide explained that these operations allow repay debt by 500 million -300 million sindicada- debt in 2016 and approach the commitment to put its bank debt by 1,600 million in 2019.

With last year’s figures still close, Markaide said that, in 2015, the ordinary profit recorded the biggest improvement since the beginning of the crisis, in 2008, although they remain in losses the impact on accounts “cost of conversion”. For 2016, the forecast is that the number of extraordinary losses “not relevant” and allow them to have benefits.

After divestments, Eroski has a sales network in the business of distribution of 53 hypermarkets and 1,288 supermarkets, of which 467 are franchisees. The chain employs about 33,000 people, of whom 12,000 are worker-members and has a market share of 8% in food throughout Spain and around 30% in the Basque Country.

Now the plan is to gradually regain the pace of openings own supermarkets and accelerate the expansion of franchised stores with a targeted establishments in the format of proximity strategy. In this line, the chain of distribution of Mondragon group plans to invest 100 million a year remodeling supermarkets and the opening of a hundred franchises.

Eroski plans to return this year to benefit

Information Expansión

http://entornointeligente.com/articulo/8243431/Eroski-preve-volver-este-ano-a-beneficios

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