Spar Austria reports turnover increase

Spar Austria’s turnover edged up year on year in the first six months of 2010, it has been announced.The company announced today (Mon) net turnover rose from 2.35 to 2.44 billion Euros, adding that earnings before interest and taxes (Ebit) improved from 36 to 39 million Euros.Spar Austria also said earnings before interest, taxes, depreciation and amortisation (Ebitda) increased from 120 to 127 million Euros from the first six months of 2009 to the same time span this year.The company said it expected its “positive growth” to continue despite the “difficult economic environment”.Spar Austria chief executive Gerhard Drexel said earlier this year the firm planned to invest 450 million Euros in Austria and its foreign branches throughout this year, explaining that the focus was on expansion and modernisation of existing supermarkets.The company had had around 70,500 employees last year, around 1,200 more than in the previous year.Spar Austria is second in Austria’s supermarket business dominated by Germany’s Rewe Group which runs Billa, Penny Markt, Merkur and other chains.Rewe Group’s subsidiary Rewe International AG manages its operations in Austria and seven other Central European countries. Its turnover rose by six per cent to 11.55 billion Euros from 2008 to 2009.Spar Austria’s 2009 turnover jumped by 3.5 per cent year on year to 9.8 billion Euros last year.