Sligro Food Group (SLIGR) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenue reached €730 million, a 3.5% increase year-over-year from €705 million.

• Netherlands saw revenue recovery in Q3 after a weak Q2, aided by increased tobacco sales due to legislative changes.

• Belgium's revenue decline slowed as IT and logistics upgrades were completed, with early signs of customer growth.

Financial highlights

• Total revenue for the first nine months of 2024 was €2,123 million, up 0.7% year-over-year.

• Netherlands Q3 revenue rose 5.8% to €636 million; Belgium Q3 revenue fell 10% to €94 million.

• Tobacco sales in the Netherlands grew 35.4% in Q3, offsetting weaker non-tobacco sales.

Outlook and guidance

• Expectations for full-year results remain unchanged from the half-year update.

• No broad market recovery is visible; volumes remain under pressure and inflation is just above 2%.

• Focus remains on revenue retention and customer acquisition in both markets.