Colruyt Group N.V.

Latest Results (29.08.2026):

Colruyt Group N.V. — consolidated annual results for the financial year 2025/26 (year ended 31 March 2026; this is an annual report, not a quarterly release). Revenue rose 3.1% to EUR 10.568 billion; gross margin stayed stable at 30.5%. EBITDA increased 2.9% to EUR 879 million (8.3% of revenue) and operating profit (EBIT) was broadly stable at EUR 465 million (4.4% of revenue). Profit from continuing operations declined 4.3% to EUR 337 million; total profit was EUR 304 million (including a EUR 33 million loss on discontinued French integrated retail activities). EPS was EUR 2.53 (down 7.4%). Capex was tightly managed at EUR 472 million. The Board will propose an ordinary gross dividend of EUR 1.38 per share.

Top-line and margins

Colruyt Group N.V. reported revenue of EUR 10.568 bn (+3.1%). Gross profit rose to EUR 3.222 bn with the gross margin stable at 30.5% (improved in H2 vs H1). Excluding recent acquisitions, underlying revenue growth was c.1.2%.

Profitability

EBITDA was EUR 879m (+2.9%; 8.3% of sales). EBIT remained broadly stable at EUR 465m (-0.9%). Profit from continuing operations was EUR 337m (-4.3%), driven by a weaker net financial result and lower equity-method results; total profit including discontinued operations was EUR 304m (-9.9%).

EPS, dividend and capital allocation

Earnings per share: EUR 2.53 (vs EUR 2.73 prior year). Board proposes an ordinary gross dividend of EUR 1.38 per share. Capex was EUR 472m (4.4% of revenue). Treasury activity: 1.699k shares bought during the year (EUR 60.7m), 4.0m treasury shares cancelled in Dec-2025; Board approved a new discretionary buyback mandate up to EUR 100m.

Segments — Food dominant

The Food segment remains dominant (94.2% of revenue). Food revenue rose 2.4% to EUR 10.0bn (food retail +1.7%); Foodbag, Delitraiteur and Délidis contributed to scope-led growth. Wholesale & food service grew, and Food production external sales remained small. Health & Well‑being revenue grew strongly (+18.0% including NRG); Non‑food increased +16.4% (partly timing/changes in consolidation).

Discontinued operations — France

The disposal and discontinuation of the French integrated retail activities was completed in Q4 of FY2025/26; the discontinued operations generated a EUR 33m loss (includes operating result and one-offs related to disposal). Search for buyers for remaining French real estate/warehouses remains ongoing.

Balance sheet and liquidity

Cash and cash equivalents: EUR 586m at 31‑Mar‑2026. Total net financial debt including IFRS16: EUR 271m (31‑Mar‑2026); excluding IFRS16 net cash position EUR 108m (vs EUR 78m prior year). Equity: EUR 3.261bn (50.2% of balance sheet).

One-offs and associates

Share of result from associates was negative (EUR -5m), impacted by Virya Energy (ongoing investment phase). Post‑balance-sheet disposal of GEOxyz (May 2026) will produce a one‑off positive effect of an estimated EUR 25–30m and cash proceeds ~EUR 51m in FY2026/27.

Digital, operations and sustainability

Online sales exceeded 9% of retail revenue (Collect&Go, Foodbag, Newpharma). Investments in AI and automation continued (smart trolleys, Easy Check‑Out rollout, SDVs in DCs). Sustainability targets reiterated (packaging recyclable/reusable by 2030, emission‑free freight by 2030) and continued investment via Virya Energy for renewables.

Outlook and guidance

For FY2026/27 Colruyt Group N.V. aims to achieve at least the same level of operating result (absolute and margin). Management highlights continued competitive pressure in Belgium (Sunday openings, extended hours) and plans further productivity and organisation simplification, with AI and technology as enablers. The GEOxyz disposal benefit (EUR 25–30m) will be recognised in FY2026/27.