Trading update third quarter 2024
Sligro Food Group N.V. generated €730 million in revenue over the third quarter of 2024, up €25 million or 3.5% on the revenue of €705 million posted in the third quarter of 2023.
In the Netherlands, we saw revenue development recover in the third quarter. After a mediocre second quarter, conditions were more favourable in the third. Revenue development was also driven by the increase in tobacco sales on the back of the shift from the retail to the petrol channel due to a change in tobacco legislation.
In Belgium, it looks as though the greatest impact of revenue losses due to all the changes we have implemented is now behind us. Over the past quarters, hard work has gone into setting up an IT platform and logistics infrastructure in Belgium to be able to offer our customers there, like in the Netherlands, the benefits of an integrated and nationwide delivery network. This was a major programme that involved some temporary inconvenience for our customers. We now have the foundation in place for professional and efficient operations, which will benefit both our customers and Sligro itself, making this a key milestone. As the third quarter progressed, the revenue drop compared to last year levelled out and we returned to attracting new customers. While we reached that point later than expected, we are pleased to see these first signs of recovery.
Veghel, 17 October 2024