Aldi Ireland has released its 2023 results, showing a slight dip in profits despite a lift in sales, as it announced a new planned store in Co. Kildare.
The retailer has completed the purchase of the new 60-acre site, investing €24 million in the business and continuing its Irish expansion.
The site is strategically located adjacent to the motorway network and close to Aldi’s distribution centre and corporate headquarters in Naas, Co. Kildare.
Announcing the acquisition today, Aldi said the investment is part of the retailer’s long-term strategic growth planning.
2023 Results
The investment was announced as Aldi published its 2023 financial results, showing turnover growth of 3.4% to €2.102 billion.
Overall profitability for the period was down slightly, as the retailer continued to invest in supporting its supplier network and managing stubborn input cost inflation.
Aldi also worked to provide good value for its products in the face of cost-of-living pressures on customers.
Las year, Aldi expanded its store network, opening six stores as part of an investment of €67 million across the year.
The retailer also paid €197 million in wages and salary costs to colleagues during the year and maintains its position as a market leader in pay.
Aldi 25
This year, Aldi marks 25 years in Ireland, having opened its first two stores here in 1999.
Since then, it has expanded its network to 162 stores, investing €2 billion in capital expenditure during its time in Ireland.
The retailer has also spent more than €10 billion with Irish suppliers in that time, and now supports a network of more than 330 Irish businesses across the country.
Purchases from Irish suppliers have increased by 58% since 2019.
Over the course of 2024, the retailer has invested more than €40 million in over 1,000 price cuts across 850 products.
‘Balancing Affordability And Cost’
Commenting on the results and investments, Aldi Ireland’s group managing director Niall O’Connor said, “This year marks 25 years of Aldi in Ireland which is a major milestone for our business.
“While it is a moment to look back, it is also timely to take stock and to look to the future.
“Specifically, Aldi’s continued growth and development in Ireland over the longer-term.
“The retail landscape is a new phase. The challenge for retailers and consumers of balancing affordability and costs, alongside environmental and sustainability considerations, have never been more acute.
“We’re more committed than ever to meeting that challenge. Being a discounter is in our DNA at Aldi and we are committed to remaining Ireland’s best value retailer.
“What is also in our DNA is planning and preparing for the medium to long term.
“The investment in the site in Naas means we have resources and infrastructure to support growth at an opportune time.”
In recent months, Aldi has announced significant supplier contracts Dawn Meats, Irish Dog Foods and Manor Farm to the value of over €190 million.
The retailer also recently marked its 10-year partnership with FoodCloud, donating four million meals to the charity to date.
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