In Y2023 Silpo increased its network in line with previous plans

2 January 2024

The Silpo chain recently opened a new supermarket in Vyshneve; on December 29, a Russian missile attack damaged the chain's supermarket in the Dnipro shopping center Appolo.

On December 24, a new supermarket of the Silpo chain opened its doors in Vishneve, Kyiv region. The new designer supermarket is dedicated to the theme of Wall Street, its trading area is 1.5 thousand square meters.

The new supermarket became the 312th operating store of the Silpo chain, in addition, the company operates four Le Silpo premium supermarkets.

On the other side on December 29, as a result of a Russian missile attack, the company's supermarket, which is located in the Apollo shopping center in Dnipro, was damaged.

As a reminder on the chain development, as of the end of 2021, the total network of Silpo consisted of 333 supermarkets. As a result of Russian aggression, 31 supermarkets were partially or completely destroyed in 2022 (of which 17 were restored), 18 supermarkets remained on the territory captured by the Russians.

Instead, 8 new stores were opened during 2022, bringing the total number in the network to 305 at the end of 2022 (including 4 Le Silpo). The chain's turnover in 2022 increased by 7% compared to the previous year and amounted to UAH 62 billion (according to the reports of the chain operator LLC Silpo-Food, while the company's total turnover amounted to UAH 70 billion, but part of the turnover was wholesale sales).

In 2023, the network continued its development. Earlier, in its forecasts for the current year, the company announced plans to increase the number of Silpo supermarkets to 315, so currently it is clear that this target was achieved.

Siplo stores 2023

According to our estimates, during the first nine months of the current year, Silpo's turnover increased by 20-25% compared to last year, so it can be expected that for the whole of 2023 it will amount to UAH 75-80 billion (excluding wholesale sales).

The amount of loans of Silpo-Food LLC at the end of 2022 was at UAH 4.6 billion. This is quite acceptable figure as for the food chain, besides, 75% of these loans are loans in the national currency. In 2022, the company partially extended and restructured its bank loans.

According to our preliminary estimates, the network is able to generate operating cash flow at a level sufficient to meet its obligations.

Regarding plans for the future, the company previously announced its target to increase the network to 365 stores by the end of 2025.