Retail group Colruyt announced Tuesday that its market share and operating result declined during the fiscal year 2024-2025, which runs from 1 April 2024 to 31 March 2025, primarily due to rising operational costs.
Colruyt Group’s market share in Belgium, which includes Colruyt Best Prices, Okay, Spar, and Comarché, dropped to 29.0% from 29.3% in the previous year.
Despite the reduction in food inflation and adverse weather conditions last summer, Colruyt Group’s revenue rose by 1.1% to nearly €11 billion, with food activities accounting for 95.2% of this figure.
Net operational costs increased by €92 million due to higher staff benefits, partially offset by reduced energy costs and cost control measures, leading to a 5% decline in operating profit (EBIT) to €446 million.
“Our ambition for 2024/25 was to match the results of 2023/24,” said CEO Stefan Goethaert, noting that increased competition in the Belgian retail market and lower-than-anticipated food inflation slightly affected the group’s operating result, despite their efforts.
Net profit for the fiscal year 2024-2025 stands at €337 million, down from €357 million in the previous year, excluding one-off effects. Earnings per share for 2024-2025 are €2.73.
The board of directors will propose a regular gross dividend of €1.38 per share. In the previous fiscal year, Colruyt Group paid a regular gross dividend of €1.38 per share as well as an interim gross dividend of €1.00 per share on 22 December 2023, following the capital gain from the Parkwind sale.
Looking ahead, Colruyt Group aims to keep its operating result “at least stable” for the 2025-2026 fiscal year. The group will present its forecasts for 2025-2026 at the shareholders’ general meeting scheduled for 24 September 2025.
