Action not affected by the Covid crisis

The Covid crisis hardly seems to affect Dutch discount retailer Action, which once again recorded strong growth over the second quarter.

A sharp increase in valuation

Action’s sales rose to nearly 1.7 billion euros in the period from April to June, a 52 % growth compared to the same period last year and an increase of 39 % compared to 2019. Gross operating profit (EBITDA) more than doubled compared to last year, reaching 205 million euros.

Part of that growth can be explained by the 63 stores that Action opened, but even on a comparable basis, revenues in June increased by 14.7 %. For the full year 2021, Action is sticking to its earlier ambition of opening around 300 new branches.

3i currently owns a stake of 52.7 % in the retail chain. The British investor estimates its value at more than 5.5 billion pounds (6.4 billion euros), a billion pounds more than three months ago.