Eroski announces the opening of between 10 and 15 its own stores in the north and up to 60 franchises throughout Spain in 3 years
The cooperative and distribution group Eroskiwhich maintains a strong leadership in the north of Spain where it has a market share of 12.7%, leading especially in territories such as Galicia (20.3%), the Basque Country (35.9%), Navarre (26.8%), Catalonia (through the Caprabo brand with a share of 4.6%) and Balearics (20.5%), announced this Thursday the opening of between 10 and 15 own stores per year over the next 3 years in its main markets. In addition to between 50 and 60 franchised establishments, in the same period, throughout Spain. A strong investment to which they will dedicate 2.5% of their sales. They will do it, has assured the CEO of Eroski Rosa Carabel “with the expectation of expanding like an oil slick in the nearest areas” in the near future.
Carabel has highlighted that 77% of our business comes from supermarkets “and we are clear that future growth will be in the supermarket in formats between 1,500 and 3,000 square meters.” Regarding the thirty or so hypermarkets that the cooperative group owns, he added that they are quite profitable and are focused on their main markets. “Very satisfied with its profitability and sustainability”he pointed out, ruling out new openings.
Positive forecasts for 2026
The CEO of Eroski, Rosa Carabel, has pointed out that the future of the group depends on “focus 100% on our business and continue expanding and growing in everything we know how to do” and has predicted that the cooperative group will grow up to 2.5 points in sales this year. In addition to continuing to improve its Ebitda data (earnings before interest, taxes, depreciation and amortization) which last year closed at 332 million euros after sales of 5,885 million. “We expect a very positive business result”highlighted Carabel, who recalled that the company inaugurates a new strategic cycle, reaffirming its quality as a cooperative and the development of its formats.
Besides, Eroski arrives at this Christmas campaign with the chapter of its refinancing concluded. What it has achieved through 3 measures: the issuance of a senior bond guaranteed by a nominal amount of 500 million euros maturing in 2031 and an interest rate of 5.75% aimed at institutional investors. To which is added the signing of a new syndicated loan for an amount of 370 million euros until 2031 and a new line of credit for 80 million euros with the same expiration date. With the funds obtained from all these instruments, the cooperative group wants early amortize Eroski’s Subordinated Obligations (OSES) maturing in 2028 and representing an amount of 209 million. In addition to another senior secured bond issued in 2023 of 500 million and all the outstanding bank debt of the cooperative group, among others. All of these operations have had the support of important financial entities such as BBVA, Banco Santander, Caixa Bank, Banca March, Cajamar, Intesa Sanpaolo and Deutsche Bank, which have joined more traditional Eroski support such as Kutxabank, Laboral Kutxa and the ICO.
With these Eroski movements, the distributor’s debt as of November of this year is 938 million euros of which 500 million correspond to bonds and 370 million to the recently signed syndicated loan. In this way, the cooperative group continues in the debt reduction and simplification path which in 2009 amounted to 3,506 million euros, as well as up to 8 times the Ebtida (earnings before interest, taxes, depreciation and amortization). The vast majority in bank debt and loans. Last year it closed with a liability of 948 million of euros and with a debt that was barely 2.3 times with a much more diversified structure in which the majority corresponds to supervised obligations and the bond issued in 2023. The company’s objective, facing 2027, is to reduce the weight of the debt to below 2 times the Ebitda. All this, with gross sales that reached 5,885 million euros in the last year and an Ebitda of 332 million.
