The e-grocery giant belonging to Eurocash, i.e. Frisco, has just submitted its financial report for 2023. We are taking a look at the company's activities and plans for the future.
Frisco resigned from Bydgoszcz
Frisco currently operates in the largest centers: Warsaw, Wrocław, Poznań, Kraków, Katowice and Tricity, and also operated in Bydgoszcz. In addition, mail order sales of a limited range of goods (so-called "dry" goods) are continued throughout Poland, which is carried out in cooperation with DPD. The company addresses its offer to both B2C and B2B customers.
In Bydgoszcz, the Frisco service was implemented in a new format – delivering smaller purchases in a shorter time. Test results in the range
logistics, shopping frequency and shopping basket size performed well. However, due to the macroeconomic situation, the management board decided to:
focusing on the development of operations in the largest cities.
In its financial report, the company writes that 2023 was another period full of events contributing to increasing volatility and increasing difficulty in predicting the purchasing behavior of Poles, which was caused primarily by the continuation of Russian aggression against Ukraine, economic slowdown and persistent high inflation. and interest rates in Poland and worldwide.
The share capital of Frisco SA as of December 31, 2023 amounted to PLN 11,097.4 thousand. zloty . The capital increase was registered in the National Court Register on January 17, 2024. After registration of the increase, its amount is PLN 14,097 thousand. zloty.
Frisco has nearly 50 percent. share in the domestic e-grocery market
Throughout 2023, Frisco recorded revenues of PLN 458 million, including revenues from the sale of goods of PLN 432 million and revenues from marketing services provided to suppliers 26
PLN million Compared to 2022, there was an increase in the company's turnover (+14%), while maintaining margins (gross and cash margin) at a comparable level, despite extensive voucher campaigns and promotions in new cities to acquire customers and familiarize them with the brand and service .
The profit and loss account showed a loss for 2023 of PLN 26,715,237. (PLN 36,670,913 loss for 2022)
In the fourth quarter of 2023, the company launched a second automatic warehouse in Warsaw, which practically allows for doubling the number of orders handled in this city.
The company significantly strengthened its position and became the e-grocery market leader in Poland, maintaining an almost 50% share in the domestic e-grocery market.
Frisco serves over 200,000. customers per year
Currently, Frisco serves over two hundred thousand customers annually.
Plans for the coming years assume further dynamic growth and acquiring new customer groups. The company plans to focus mainly on popularizing the online food shopping service by increasing the scale of operations and expanding the availability of delivery windows in the cities where operations were launched in 2021, expansion into new markets, work on increasing the personalization of the offer, leading to loyalty, as well as expanding the portfolio of services provided. As a result, Frisco is planning in the next few days
several years to gain a dominant position in the e-grocery market in the largest cities of the country, where expansion was carried out.
Frisco employs approximately 200 people
The average employment in Frisco in 2023 was 197 jobs. The increase in employment occurred mainly as a result of the company's intensive expansion (wider reach).
Frisco sells alcohol and has permits
In connection with conducting wholesale trade in alcoholic products, the company has the legally required permits for this trade in the country:
– permit No. 272/23 for wholesale trade in alcoholic beverages with an alcohol content exceeding 18%, valid until November 30, 2024,
– permit No. 126/P/2023 for wholesale trade in alcoholic beverages with up to 4.5% alcohol content and for beer valid until November 30, 2025.
– permit No. 149/W/2023 for wholesale trade in alcoholic beverages with an alcohol content exceeding 4.5% and up to 18%, except beer, valid until November 30, 2025.
The permits cover the possibility of storing alcoholic beverages in all five warehouses operated by the company in Poland.