Discount retailer Aldi Ireland has reported higher sales figures for 2023 but lower profits for the year.
Aldi Ireland said its sales rose by 3.4% to €2.102 billion from €2.032 billion in 2022.
But its pre-tax profits for the year fell by 2.1% to €16.83m from €17.184m as it said it continued to invest in supporting its supplier network amid efforts to manage “stubborn” input cost.
Aldi is marking 25 years in Ireland, having grown from an initial two stores in 1999 to 162 today and after investing €2 billion in capital expenditure.
During that time the retailer has spent more than €10 billion with Irish suppliers, and now supports a network of more than 330 Irish businesses across the country. It noted that purchases from Irish suppliers have increased by 58% since 2019.
Aldi has paid more than €1.3 billion in wages and today employs more than 4,650 people across every county in Ireland over the past 25 years.
The retailer also said today it had completed the purchase of a new 60-acre site in Co Kildare, investing another €24m in the Irish business.
The site is adjacent to the motorway network and in close proximity to its existing distribution centre and corporate headquarters in Naas, Co Kildare.
Aldi said the investment is part of the company’s long term strategic growth planning.
Over the last few months, Aldi has announced supplier contracts with suppliers including Dawn Meats, Irish Dog Foods and Manor Farm to the value of over €190m.
The retailer also recently marked its 10-year partnership with FoodCloud donating four million meals to the charity to date.
Aldi Ireland’s Group Managing Director Niall O’Connor said the challenge for retailers and consumers of balancing affordability and costs, alongside environmental and sustainability considerations, has 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,” Mr O’Connor said.
“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 the opportune time,” he added.