Coop Italia: 2020 turnover up, equal to 14.4 billion
E-commerce doubles and the branded product reaches 27.5% of total sales
Total turnover of € 14.4 billion (€ 13.3 billion that developed only by the retail part equal to + 2.6% compared to 2019), a market share in large-scale distribution stable at 12.4% and some important economic indicators on the rise: employment generated is growing with 57,450 employees (+ 1.65%), the share of female employment increases to almost 70% and the percentage of women in managerial roles rises to 33.7% . The branded product increases its turnover by now close to 3 billion with an incidence of 27.5% on total sales.
These are the main numbers that photograph the 2020 of Coop and the associated cooperatives that emerged at the Coop Italia Budget Assembly.
“It has been a challenging year that we have faced with determination, finding many allies. Here I would like to recall the continuous contacts with the Civil Protection, the Emergency Commissioners, the Anci for the delivery of home expenses to those in difficulty. Our employees have been commendable in the service they lavished on citizens and the network of over 3,000 volunteer members who have done their utmost with social support activities in the territories", commented Marco Pedroni President of Coop Italia and Ancc- Coop (National Association of Consumer Cooperatives).
"The trend in supermarket sales - continued Pedroni - has more than compensated for the difficulties of the hypermarket network, penalized by the closures and limitations of shopping centers during lockdowns. On the economic side, there has been an important improvement in the characteristic management of large and medium-sized Cooperatives, with a return to profit in almost all of them. Looking ahead, the polarization of income and consumption that the pandemic has accelerated can only be worrying; Coop's challenge is to make it available to everyone, even to the most difficult groups economic, quality, safe and sustainable food. It is a difficult challenge, it would be more convenient to segment the offer by distinguishing those who have more possibilities from those who have less, but we were born to make the market better, not to adapt".
Returning to the numbers, in 2020 all pure e-commerce services (such as EasyCoop and Cooponline) or hybrid will double their turnover (107 million in all). On the social side, there are 6.4 million members (over a quarter of Italian families own the 79 associated cooperatives), they received over 1 billion euros in discounts between promotions and dedicated offers. To these are added over 150 million euros returned to the community and invested to deal with the pandemic with extraordinary interventions.
In terms of economic performance, in the financial year 2020 the overall Ebitda of consumer cooperatives was higher than 5%, with differentiated but clearly improving results for all large and medium-sized cooperatives. Shareholders' equity rises to 6.4 billion euros, the social loan stands at 8 billion with over 1 million lending members to whom the cooperatives have distributed 23 million in interest.
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