Auchan’s net profit fell 10 times in 2023 – Kommersant

At the end of 2023, the revenue of the Auchan network (the structure of the French Auchan) according to RAS decreased by 4.7%, to 226 billion rubles. Net profit fell 10.2 times, to 460.2 million rubles, TASS reports, citing the retailer’s reporting.

Auchan’s cost of sales decreased by 4.4% year-on-year, to 158.6 billion rubles, gross profit – by 5.4%, to 67.45 billion rubles. Profit from sales decreased by half, to 6.9 billion rubles. The revenue of Atak LLC (part of Auchan) decreased by 5.5%, to 49.5 billion rubles, net profit – by 5.8 times, to 395 million rubles. Sales profit fell by 36.3% to RUB 3.2 billion.

It is clarified that last year Auchan paid excess profit tax in the amount of 209.969 million rubles. The retailer paid no dividends in 2022-23.

Head of the Union of French Entrepreneurs (MEDEF) Geoffroy Roux de Beziers after the start of the Russian military operation in 2022 statedthat Auchan does not intend to stop working in Russia. In November 2023, amid increased government attention to rising prices, some retailers began to resort to unconventional ways to curb inflation. In particular, Auchan asked suppliers not to raise prices until the end of the year, threatening to appeal to regulators otherwise.

Details – in the material “Kommersant” “Please don’t worry about inflation”.

Laura Keffer