Netherlands: Action’s Performance & USA Expansion
- DRC Discount Retail Consulting GmbH
- 1 day ago
- 2 min read
Discount Retail Chain Action delivered a record-breaking performance in the 2025 financial year:
Net Sales: €16.0 billion (↑ 16% vs. 2024).
Operating EBITDA: €2.367 billion (↑ 14% vs. 2024).
Profitability: Operating EBITDA margin reached 15.0% (adjusted for a one-off staff bonus celebrating the 3,000th store).
Growth Drivers: Like-for-like (LFL) sales grew by 4.9%, supported by the addition of 384 new stores and an expansion into Switzerland and Romania.
2026 Q1 Trading & Outlook
Through the first 12 weeks of 2026, Action maintains a positive trajectory:
Current Sales: Net sales reached €3.7 billion (↑ 14.5% YoY).
Regional Trends: LFL growth stands at 4.0%. While France is recovering (0.9% LFL compared to -2.7% in Q4 2025), non-French markets are exceeding expectations with 5.8% LFL growth.
Liquidity: Cash reserves sat at €900 million as of March 22, with a shareholder dividend planned shortly.
Strategic Guidance & Future Growth
Action has set the following targets for the 2026 full year:
Metric | 2026 Guidance |
LFL Sales Growth | 4% – 5% |
New Store Openings | 400+ |
EBITDA Margin | Stable at 14.8% |
Long-term Expansion:
European Potential: Action has upgraded its "white space" estimate to 4,650 potential new locations in Europe (on top of the existing 3,302 stores).
U.S. Market Entry: Following a successful market study, Action plans to launch its first store in the Southeastern United States by late 2027 or early 2028.
Portfolio-Wide Review
Beyond Action, 3i reports that its broader portfolio, including Royal Sanders and its Infrastructure assets, remains resilient and continues to trade well.
The Group is actively monitoring geopolitical risks in the Middle East and the evolution of AI. 3i views AI as a significant opportunity for operational enhancement across its companies with minimal identified downside risk.
Read more: Home - Update2025
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