Lidl Hungary: Significant revenue and profit growth in the 2023 financial year

By: Trademagazin Date: 2024. 08. 01. 11:43

Lidl Magyarország Bt. achieved significant growth in the fiscal year between March 1, 2023 and February 29, 2024, as confirmed by the company’s report published on Wednesday. The company’s net income increased to HUF 1,159.2 billion, which represents a 19% increase compared to the previous year. This increase is in line with the increase in the purchase value of the goods sold, which amounted to HUF 854.3 billion. This suggests that Lidl did not pass on the supplier price increases to customers to a greater extent.

Personal expenses also increased significantly, by 25.3%, reaching HUF 71.8 billion. The average number of employees was 7,292, which means a slight decrease compared to last year’s number of 7,361.

The list of taxes amounted to HUF 60.7 billion, which includes the special retail tax. This amount exceeded the previous year’s value by HUF 10 billion. The report emphasizes that “the retail tax paid in the current year was considered an expenditure of exceptional size and occurrence.”

Despite this, Lidl Hungary closed the financial year with a profit of HUF 26.8 billion, which represents a 6% increase compared to the previous year. This result reflects the company’s successful operation and growth strategy in a challenging market environment.
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