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Germany: Dennree with almost 30 million euros profit in 2016

by Editor (comments: 0)

The Dennree Group was able to close the year 2016 successfully. The balance sheet published shortly before Christmas shows a profit of almost 30 million euros (after tax). Sales rose by around ten percent. For 2017, only a low single-digit increase in sales is expected.

If the company's own forecast proves to be true, Dennree will not exceed the one-billion euro turnover threshold in 2017. In 2016 the group’s sales amounted to 930 million euros. With an equity ratio of over 70 percent, the company is well positioned in the increasingly difficult organic market. "According to management and market observers, competition in the market will continue to increase and there will be major structural changes. The further expansion of the BioMarkt Group and its own retail business, the denn’s Biomarkt GmbH, is seen as a step towards being able to play an active role in shaping this process," says the group’s management report.

Subsidiary denn’s gains 15 percent


The denn’s Biomarkt GmbH, which belongs to the Group, achieved an annual result of around one million euros, compared to around three million euros in 2015. Sales rose by about 15 percent to around 355 million euros. According to the management, these numbers are based on the report of 184 of the 252 stores managed under the brand image of the denn’s Biomarkt in 2016. Of the liabilities totaling 94.5 million euros, 84 million euros are liabilities to "affiliated companies", around 20 million euros more than in 2015, with an equity ratio of eleven percent. The management report states that „denn's Biomarkt GmbH plans to achieve further organic growth in the medium-term planning horizon in order to tap further market potential".

According to the report at the end of the financial year, 262 trainees (previous year: 257) and seven dual students (previous year: 6) worked spread across the entire branch network. "In order to increase the appeal of the job market for trainees and to improve their knowledge, a cooperation with Prozubi, a leading provider of online courses for preparing for the IHK examination, was entered on October 1st of 2015. This enables the trainees to acquire the examination material of the IHK exam in a targeted manner from home. The trainee does not incur any costs. He thereby improves his professional knowledge, achieves better examination results and thus creates more favourable opportunities for takeovers."

The Dennree Group employed a total of over 5,000 people, almost 600 more than in 2015.

Please also read:

Germany: dennree group's 10% growth

Denn’s: increase in turnover of more than 30 percent in 2015

 


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Germany

Trade

Chain Stores


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