Lidl defended number one position among retail chains in Slovakia in 2023

With a profit of almost €160 million, Lidl was the most profitable retail chain in Slovakia last year, at the same time defending its position of market leader in terms of sales, according to annual financial statements of individual companies published on the FinStat website.

Lidl's sales amounted to €2.09 billion, an increase of 10 percent year-on-year (y-o-y). The second-most profitable retail chain in Slovakia was Kaufland, which boosted its profit to more than €93 million, thus overtaking Tesco.

Kaufland posted significant y-o-y growth in sales, going up by 14 percent to €1.75 billion. The two most profitable retail chains in Slovakia are managed by the same supranational company, the German Schwarz Group.

Tesco, whose profit for the previous accounting period was more than €82 million, fell to the third place in terms of profitability. Its sales amounted to €1.71 billion, up 5 percent from the previous accounting period.

Billa retail chain increased its profit by 18 percent from the previous year to €11.9 million. Its sales grew by 10 percent y-o-y to reach €850 million in 2023.

Source: TASR