Colruyt : Consolidated annual information on the financial year 2025/26

About this update from Colruyt Group N.v.

Consolidated annual information on the financial year 2025/26 Revenue grows 3,1% Operating result in line with prior year Halle, 16 June 2026 Headlines financial year 2025/26(1)(2) As a retailer in food and health and as the market leader in Belgium, Colruyt Group continues to actively fulfil its role in society by ensuring that customers can rely on an accessible, qualitative and affordable offering, delivered in the most sustainable way possible, both in our physical stores and online. This is a commitment we consciously uphold every day, together with our more than 31.000 colleagues. The financial year 2025/26 was marked by multiple challenges in the Belgian retail market, which is becoming ever more competitive, mainly as a result of Sunday openings, extended opening hours and the abolition of the mandatory weekly closing day. These structural changes in opening hours are disrupting competitive dynamics. Despite this disruption, Colruyt Group's revenue increased by 3,1% to EUR 10,6 billion in 2025/26, while the gross profit margin remained stable at 30,5% compared with the previous financial year. The combined market share of Colruyt, Okay, Spar and Comarkt/Comarché in Belgium decreased to 28,5%. Operating expenses increased primarily due to changes in scope(2), as well as higher employee benefit expenses, mainly driven by Belgium's automatic wage indexation system. As a result, the operating cash flow (EBITDA) increases by 2,9% (stable at 8,3% of revenue) while the operating result (EBIT) remains broadly stable at EUR 465 million (4,4% of revenue). The net result from continuing operations decreases by 4,3% to EUR 337 million (3,2% of revenue), mainly due to a lower net financial result and a lower result of investments accounted for using the equity method. The group succeeded in counterbalancing the decline in operating result recorded in the first half of the year during the second half, supported by a further normalisation of the gap between sales price inflation and purchase price inflation, productivity gains and targeted initiatives (such as the extension of opening hours at Colruyt, Okay, Spar and Collect&Go, and commercial initiatives). In line with disciplined cash management, investments were even more tightly targeted in 2025/26: EUR 472 million or 4,4% of revenue. The disposal and discontinuation of the French integrated retail activ...

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