The Commerce Department is responsible for Migros’ Convenience and Discount food retail sub-segments. It also drives online growth with Digitec Galaxus and Ex Libris. Market share was further increased in 2022.
earnings before interest and taxes (EBIT) in CHF
Sales in the Commerce Department increased again despite the challenging environment. Changes in consumer behaviour – due, inter alia, to greater price sensitivity, the reopening of hospitality businesses and the increase in travel and tourism – had a noticeable impact. In addition, costs and sales were affected by inflation and the high crude oil price.
At CHF 126 million, earnings before interest and taxes (EBIT) was below the previous year’s result of CHF 162 million. This was due mainly to higher raw material prices, higher purchasing costs that could not be fully passed on to the customer, and the investment in expanding Galaxus Deutschland.
increase in platform sales by the Digitec Galaxus group
With the clearly positioned retail portfolio, Migros assumes a leading market position in the Convenience and Discount sub-segments and the fast-growing Online channel. In 2022, all five companies achieved double-digit sales growth in comparison with 2019. The retail portfolio thus makes an important contribution to the profitable growth of the group.
Digitec Galaxus increased its platform sales (incl. Germany) by 8.7 % to CHF 2.427 billion. In Switzerland, the company grew faster than its competitors and increased its share of the online market and the overall market. Thanks to a doubling of the product range and expansion of the logistics centre in Krefeld (Germany), sales of Galaxus Deutschland increased by almost 80 %. The Digitec Galaxus group’s sales came in at CHF 2.207 billion, compared with CHF 2.054 billion in the previous year.
Ex Libris celebrated its 75th anniversary in 2022. Switzerland’s largest online book retailer suffered a decline in sales in the Swiss book market and a noticeable loss of business in in-store retailing. Sales amounted to CHF 119 million, thus below the previous year (–11.3 %) but still well above 2019 (+19.8 %).
increase in the sales of migrolino AG
Denner further increased its market share in a contracting food retail market. Sales came in at CHF 3.685 billion (–3.2 %). As a local discounter with a dense network of branches, Denner benefited from the expansion of the fresh products range and managed to do well in the inflationary environment thanks to an effective pricing strategy. With a net increase of ten branches, the branch network grew to 860 locations, further increasing the proximity to customers.
Migrolino increased its sales by 5.1 % to CHF 784 million thanks to organic growth and expansion. The format mio by migrolino was expanded from 17 to 50 shops. The number of migrolino AG shops (including the migrolino, mio and gooods formats) increased to 366 (previous year: 337).
Migrol increased its sales by a considerable 23.8 % to CHF 1.795 billion, due in particular to the sharp rise in the price of crude oil. Migrol also expanded its Fast Charging network for electric vehicles to 18 stations.
|
in CHF million |
2022 |
2021 |
Change in % |
|
Net revenue from goods and services sold |
|
|
|
|
Denner AG |
3’685 |
3’808 |
–3.2 % |
|
Migrol AG |
1’795 |
1’450 |
23.8 % |
|
Digitec Galaxus |
2’207 |
2’054 |
7.4 % |
|
migrolino AG |
784 |
747 |
5.1 % |
|
Ex Libris AG |
119 |
134 |
–11.3 % |
|
Other companies |
5 |
5 |
0.2 % |
|
Total net revenue from sales of goods and services sold |
8’595 |
8’198 |
4.8 % |
|
|
|
|
|
|
Elimination intra-sectoral |
–13 |
–16 |
|
|
|
|
|
|
|
Sales per segment (net revenue from sales of goods and services sold) |
8’583 |
8’182 |
4.9 % |
|
Other operating income |
107 |
96 |
12.5 % |
|
Total income (sales) |
8’690 |
8’277 |
5.0 % |
|
Earnings before financial income and income tax |
126 |
162 |
–22.2 % |
|
Segment assets |
1’376 |
1’366 |
|
|
Investments in long-term assets |
143 |
134 |
|
|
Employees |
9’065 |
9’263 |
|
|
|
2022 |
2021 |
|
Denner: branches, satellites and Denner Express |
860 |
850 |
|
Migrol petrol stations |
310 |
310 |
|
Migrol shops |
46 |
49 |
|
Migrol Fast Charging stations |
18 |
15 |
|
migrolino/mio/gooods shops |
366 |
337 |
|
Ex Libris |
15 |
14 |
|
Digitec Galaxus |
10 |
10 |