GERMANY: Rewe says ready for more deals after strong FY growth | Progresiv
Rewe has said it is ready to make new acquisitions, given its strong financial position. The comment by CEO Alain Caparros came after the group reported strong profit and sales growth for the last fiscal year. 
In 2014, Rewe saw EBITA grow by 29% to 468 million euros, even as sales were up 3% to 42.5 billion euros. Sales at its domestic ‘full-range’ stores were up 3.4%, outperforming the wider market, while international full-range stores recorded a currency-adjusted 1.9% rise. The group’s discount stores recorded a 1.5% rise in sales across Germany, and a 1.9% increase internationally. Finally, its DIY unit recorded a 9.9% jump in sales.
Following the results, Caparros noted: “If market opportunities arise through acquisitions, we are in a position to take advantage of such opportunities because of our capital resources, our low net debt and continued high, unused lines of credit”.
Caparros also said Rewe would continue to invest heavily on its online operations, on revamping supermarkets, and on expanding its c-store range. (www.kamcity.com)
