Annual report 2020/21: a brief overview

View a brief overview of the Annual Report for the 2020/21 financial year and download the parts that interest you most. 

Word from the Chairman

In the 2020/21 financial year, the global pandemic had an unprecedented impact on our group as well. Faced with this, we showed incredible flexibility, creativity and solidarity and we managed to continue to fulfil our social role: maintain the food supply, with as our utmost priority the safety of employees and customers.

In this difficult year, we realised a revenue of over EUR 9,9 billion. Colruyt remained true to its lowest prices promise, and as a group we continued to invest in our stores and distribution centres, in e-commerce and innovation and sustainability projects. Through participations and acquisitions, we realised our long-term strategy to offer our customers relevant solutions in all phases of their lives.

Sustainable entrepreneurship remained the common thread running through all our activities. For example, we strengthened our partnerships with Belgian producers and launched a first: the Eco-score, to help consumers make more sustainable choices. We also continued to invest heavily in the production and distribution of renewable energy. 

In short, we kept working together and assumed our social responsibility. I want to express my sincerest thanks for this, once more, dear colleague, customer, supplier or partner. You can all continue to count on Colruyt Group.

Jef Colruyt

Chairman of the Board of Directors of Colruyt Group

Who are we?

Colruyt Group is a family business that has grown over three generations into a retail group with almost 33,000 employees and a diverse portfolio of food and non-food formats, in Belgium, Luxembourg and France. Although retail still accounts for more than four fifths of our revenue, we are also active in wholesale, foodservice and production of renewable energy.  It’s typical of Colruyt Group that we continue to do many things ourselves. We possess a wealth of experience and expertise in areas such as technology, IT and communication, as well as production and packaging of meat, coffee, cheese and wine.

Shared values, complementary brands and sustainability

Each in their own, authentic way, our complementary brands express the ‘simplicity in retail’ that we represent as a group. In this way, each brand helps achieve our common mission.

Each brand also embodies the same group values, a familiar foundation for ourselves, for our partners and customers. So everyone knows what we stand for and this creates trust.

As a value-driven company, we want to make a positive difference with everything we do. Sustainability therefore remains the common thread running through everything we undertake.  We also always start with a positive view of people and invest in our employees. After all, as the people grow, our company will grow.

Activities

We divide our operational activities into retail, wholesale, foodservice, other activities and group support activities. We generate the majority of our revenue in Belgium, but we also have commercial activities in France and Luxembourg, and corporate services in India and Hong Kong.

Retail

Revenue from our retail activities grew by 5.2% to EUR 8.38 million this financial year.

Retail represents 83.7 % of total group revenue and comprises our own stores and online shops:  Colruyt Lowest Prices, Collect&Go, OKay, Bio-Planet, Cru, Colruyt Prix-Qualité, Dreamland, Dreambaby, Collishop and Bike Republic.

Retail also includes the export activities of Colex and our stakes in The Fashion Society, Newpharma, MyComfort24 and Scallog.

Wholesale and foodservice

Our wholesale and foodservice activities achieved a revenue increase of 11.7% to EUR 1,075 million in 2020/21.

Together, these activities account for 10.8% of our group revenue. Retail Partners Colruyt Group combines all wholesale activities in Belgium: deliveries to Spar, Alvo and Mini Market stores and smaller independent retailers. In France, Codifrance supplies the affiliated stores of Coccinelle, Coccimarket and Panier Sympa and other independent retailers. Foodservice comprises the activities of Solucious in Belgium.

Other activities

Revenue from other activities decreased by 24.2% to EUR 547 million, or 5.5% of total revenue. 

These activities include, besides the DATS 24 filling stations in Belgium, our printing and document specialist Symeta Hybrid, our renewable energy producer and supplier Eoly and our participations in wind farms through the energy holding company Virya Energy.

Group support activities

This concerns the production departments of Colruyt Group Fine Food and our other support services: Technics & Real Estate, Business Processes & Systems, Finance, People & Organisation, Colruyt Group Academy, Corporate Marketing, Customer Communication & Experiences, In Contact and Retail Services Centre.

Corporate governance

View the composition of the Board of Directors and management, our statements on corporate governance and sustainability, and the information for shareholders.

  1. Management, supervision and directorate
  2. Responsible / sustainable governance
  3. Shareholding - Colruyt shares

Corporate sustainability

Together, we create sustainable added value at Colruyt Group. Starting with our business impetus, we set a positive social and ecological spiral in motion.

We report on the social added value that Colruyt Group creates. You will find out which sustainable projects we have accomplished in the past financial year and how we scored on our sustainability indicators.

Financial report

View the consolidated financial results for the past financial year. 

  1. Consolidated income statement
  2. Consolidated statement of comprehensive income
  3. Consolidated statement of financial position
  4. Consolidated statement of cash flows
  5. Consolidated statement of changes in equity
  6. Management responsibility statement
  7. Independent auditor’s report
  8. Notes to the consolidated financial statements

Annual report with sustainability reporting 2020/2021

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