Turkey: Financial Results H1 2020 grocery retail market leader Discounter BIM
Updated: Aug 26
Discount Retail Chain BİM Birleşik Mağazalar Anonim Şirketi (“BİM”) started operating in September 1995. BIM operates discount retail store chains throughout Turkey, Egypt and Morocco. The BIM hard discount format sells an assortment of 750 SKUs increasing gradually to 800 SKUs, mainly exclusive private label brands. BIM is grocery retail market leader in Turkey, with in total 56.871 employees. BIM is publicly traded in Istanbul Stock Exchange (ISE) since July 2005. BİM’s main principle is to offer consumers basic food items and consumer goods at the best prices and high quality.
BIM owns the following subsidiaries for 100%: FILE, Turkish soft discount retail concept with 3,500 - 4,000 SKUs, offering PL and A-brands (operating since 2015), BIM Stores SARL Morocco (since 2009), BIM Stores LLC Egypt (since April 2013), GDP Gıda Paketleme ve Sanayi ve Ticaret A.Ş. supply and packaging of various foodstuffs, especially rice and pulses (since 2017), Dost Global Danışmanlık A.Ş. creating international shared services (since 2020).
Results H1 2020:
Revenues: US $ 3.6 Bn (+38.1% YoY)
EBITDA: US $ 310 Mn (8.7% margin and 55% YoY)
Net income: US $ 152 Mn (4.2% margin and 101% YoY)
Total stores: 8.921 (+ 573)
BIM revised its year-end guidance expecting a revenue growth of +32% (+9% above planning) and EBITDA margin of 6% (+1% above planning).
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