Nasdaq CopenhagenIFRS · DKK

Salling Group A/S

Salling Group A/S is a Danish retail group that operates supermarkets, hypermarkets, discount stores, department stores and food-to-go concepts across Northern Europe. Its business combines physical grocery and general merchandise retail with e-commerce, meal solutions and franchise operations through banners such as Netto, føtex, Bilka, Salling, BR and Rimi.

Kysy yhtiöstä
Liikevaihto83,2mrd DKK
+15,2 %v/v
Liikevoitto (EBIT)3 245milj. DKK
+20,5 %v/v
EBIT-marginaali3,9%
+0,2 %-yks.v/v
Nettotulos1 990milj. DKK
+16,4 %v/v
Vapaa kassavirta2 561milj. DKK
+24,6 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2024–2025

020406080100mrd DKK2024: 72,2 mrd DKK2024: EBIT 2,7 mrd DKK20242025: 83,2 mrd DKK2025: EBIT 3,2 mrd DKK202583,23,2
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Salling Group A/S

Liiketoiminta

Osuus liikevaihdosta
Discount grocery retail45 %

Low-price food and everyday items sold through Netto and Rimi stores.

Supermarkets and hypermarkets30 %

Broader-format stores selling groceries, household and general merchandise.

Department stores and specialty retail10 %

Premium department store and toy retail formats, including Salling and BR.

E-commerce and omnichannel services10 %

Online ordering, home delivery, click-and-collect and related digital sales.

Meal solutions and franchise concepts5 %

Meal kits, prepared food and franchised branded food and apparel stores.

Asiakkaat

Salling Group serves households that shop for groceries, household goods and everyday necessities, with value-oriented customers concentrated in discount formats and higher-income shoppers using premium and full-service banners. It also sells through online channels and convenience-oriented meal solutions, which reach customers seeking speed, delivery and prepared food.

Value-oriented grocery shoppers

Buy low-priced everyday food and household items from Netto and Rimi for routine shopping.

One-stop family shoppers

Buy broader baskets at Bilka and føtex, including groceries, home goods and non-food items.

Premium and department store shoppers

Visit Salling for a higher-service shopping experience and branded assortments.

Digital and convenience customers

Use e-commerce, click-and-collect and delivery for speed and convenience.

Meal solution customers

Buy Skagenfood meal kits, seafood and convenient food products for home consumption.

Strategia

Salling Group focuses on running a portfolio of store formats that address different shopping missions, from low-price grocery to premium department stores and meal solutions. Its strategy centers on scale in core Nordic markets, private-label and local sourcing, and extending the customer relationship through digital ordering, delivery and franchise concepts.

Format diversificationKeskipitkä aikaväli

Different banners capture distinct customer segments and basket sizes.

Omnichannel growthKeskipitkä aikaväli

Digital ordering and delivery help retain customers and add convenience.

Regional expansion and scaleKeskipitkä aikaväli

Cross-border store networks improve purchasing power and operating leverage.

Private label and local sourcingLyhyt aikaväli

These support value positioning and customer loyalty in price-sensitive grocery markets.

Maantiede

The group’s home market is Denmark, where it operates the main store banners and online platforms. It also has established retail operations in Germany and Poland through Netto, and in Estonia, Latvia and Lithuania through Rimi Baltic, making the business exposed to several consumer markets across Northern Europe.

Riskit

Salling Group is exposed to intense food retail competition, where price, convenience and assortment pressure margins and customer loyalty. Its multi-country footprint also creates exposure to local consumer spending, wages, logistics, and regulatory differences, while acquisitions add integration and goodwill impairment risk.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Intense retail price competition1Consumer demand sensitivity2Integration risk from acquisitions3Goodwill and asset impairment4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Intense retail price competitionVaikutus: KorkeaTodennäköisyys: Korkea

    Discount and grocery retail are highly competitive and customers can switch easily.

    KohdistuuNettoRimiFøtexBilka formats
  2. Consumer demand sensitivityVaikutus: KorkeaTodennäköisyys: Korkea

    A large share of sales comes from everyday retail purchases tied to household budgets.

    Kohdistuu: All store banners and e-commerce

  3. Integration risk from acquisitionsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Newly acquired store networks must be integrated across systems, logistics and sourcing.

    Kohdistuu: Rimi Baltic acquisition

  4. Goodwill and asset impairmentVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Retail acquisitions and long-lived store assets require periodic impairment testing.

    Kohdistuu: Acquired businesses and store network

Kysy Clarifolta: Salling Group A/S

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition timing

Physical store sales are recognized at sale, while online revenue depends on collection or delivery.

Vaikutus: Can shift revenue between periods around quarter-end

Returns and loyalty accounting

The group estimates returns and defers loyalty-related consideration.

Vaikutus: Affects revenue, liabilities and future-period release

IFRS 16 leases

Store networks use leased properties, creating right-of-use assets and lease liabilities.

Vaikutus: Affects EBITDA, leverage and depreciation/interest split

Goodwill impairment

Acquisitions such as Rimi Baltic create goodwill that must be tested annually.

Vaikutus: Can create non-cash charges if expectations weaken

Päivitetty: 24.10.2026