Mercator's 2012 Loss at EUR 105M
The group around retailer Mercator generated a net loss of EUR 104.6m on sales revenues of EUR 2.87bn in 2012, according to the audited results confirmed by the company's supervisors on Wednesday. Three quarters of the loss stemmed from write-offs. The core company finished the year with a EUR 77.6m net loss.
According to the press release issued after the session of Mercator supervisors, the 2012 revenues were level to the year before and the group realised 56.3% of its net sales revenues in Slovenia, 19.5% in Serbia, 13.3% in Croatia and the rest in Bosnia-Herzegovina, Montenegro, Bulgaria and Albania.
The group managed to reduce its debt by EUR 90m to finish 2012 with a debt of about EUR 1bn. As part of rationalisations, optimisations and other measures initiated last year and aimed at increasing profitability, Mercator already saved EUR 10m in the second half of 2012.
Because the market was not profitable, the retailer started withdrawing from Albania with the end of 2012 and Bulgaria is planned to follow this year.
This year, the group plans to focus on increasing competitiveness of its retail network and increasing added value through stronger cooperation with suppliers and by setting up a global supply chain, the company stated.