- Although the Tesco brand has left Poland, the company's technology division is doing quite well.
- Tesco Technology and Services Europe recorded a profit of PLN 16,364,644.94 for the previous financial year.
The scope of Tesco Technology and Services Europe's business includes software-related activities, IT consulting, IT device management, and rental and management of owned or leased real estate. The Polish branch is involved in, among other things, work on autonomous solutions for stores.
The company operates a software engineering technology center in Poland for the European market. The business model is based on a top-up model with an added profit element. For the UK and 3CE, it is a percentage mark-up.
Tesco's technological arm makes big profit in Poland
The balance sheet as of February 29, 2024, on the assets and liabilities side of the company shows the sum of PLN 91,483,853.14. The profit and loss account shows a net profit of PLN 16,364,644.94. What did the finances look like in the previous year? There was a net profit of PLN 9,603,514.31.
Sales revenues in the period under review amounted to PLN 157,989,446.28 compared to PLN 126,155,084.80 in the previous financial year.
In the fiscal year ended 29.02.2024, the company sold 1 store/shopping mall. Unfortunately, the company did not specify which facility it was.
Tesco Technology employs around 100 people in Poland
As of the end of February 2024, the company employed 97 full-time employees.
Tesco Technology and Services Europe is 100% owned by Tesco Holdings BV.
Let us recall that the British Tesco chain ended its operations on the Polish market in 2021. The largest transaction in this process was the purchase of 301 stores by the Danish Netto chain. Tesco stores were also taken over by the Kaufland, Carrefour, Castorama and Leroy Merlin chains. Part of Tesco's real estate was designated for re-development and purchased by, among others, Echo Investment, DOR Group and EDS.
