Annual Report 2023

Small boat from above leaving an s-shaped trail in the water (photo)

In a world full of filters,

we choose



As reporting becomes more and more complex, we know that providing stakeholders with clear, transparent information is both a competitive advantage and the right thing to do. By the end of 2023, we were listed in more than 130 sustainability indices, and were regularly followed by 50 ESG analysts and investors.

These assessments are the best way to attest the responsible way in which we conduct our businesses and the open disclosure approach that has been guiding our medium to long-term strategy.

In 2023, and for the fourth year in a row, we are the food retailer with the best CDP score worldwide. Our effective management of the risks and opportunities related to climate change has earned us the top grade (A). Furthermore, we have achieved a leadership level (A-) in the Water Security programme, placing us among the best performers in the sector.

Our commitment towards better managing some of the main commodities linked to deforestation, namely palm oil, soy, timber, and beef, also placed the Group at the leadership level (A-) in this fight.

Main ESG analysts

Logos of the ESG Analysts (graphic)

Crystal clear results

Our food retail strategy is based on a mass market approach, which means we are focused on working with volumes and offering the best saving opportunities for those who visit our stores every day, regardless of the country of operation.

We always prefer to sell more products at a cheaper price, and we don’t raise prices to offset the increase in production and operation costs.

We acknowledge that this strategic choice often puts additional pressure on our margins, but we never compromise our price leadership. The best possible evidence that our business is built on volumes rather than on high margins, is mirrored in the following breakdown exercise.

Receipt showing the breakdown per every 100 Euros in sales (graphic)

Major Investor



investment in business expansion

Major taxpayer



taxes paid in Poland, Portugal and Colombia

Major Employer


new jobs created

Business with ethics

Our history of more than two centuries says a great deal about the way we integrate environmental, social and governance practices across the supply chain, from production to distribution.

To ensure that our stores always have the freshest products and our product formulas incorporate the best ingredients, we manage and report the climate-related risks and opportunities inherent to sourcing of products, in line with the global recommendations of the Task Force on Climate-related Financial Disclosures.

By preferring to work with local suppliers, we are helping to develop the economies of the countries where we do business. In 2023, more than 90% of the food products sold in our stores in Portugal, Poland and Colombia were sourced from local suppliers.


food products sourced from local suppliers

Ripe strawberries in wood boxes (photo)
Patterned background of short wavy lines (graphic)

Biedronka’s regional farmers project

Biedronka has established a programme to support regional fruit and vegetable producers, so they can supply stores or distribution centres located near to the production areas. This initiative secured commercial relationships with approximately 200 Polish regional suppliers, including 60 family farms, in 2023. As a result, over 123,000 tonnes of fruit and vegetables were delivered at Biedronka facilities by small and medium-scale producers.

Supporting small producers

To enhance cash availability for small and medium-sized producers of fresh produce in Portugal, we bring forward our payment terms to an average of 10 days, instead of the legally established 30 days, without any financial costs to the producer. Since 2012 we supported around 375 suppliers. In Poland, we have reduced the payment period to a maximum of 21 days for producers with a turnover of less than 100 million złoty (22 million euros), benefitting around 200 suppliers in 2023. In Colombia we enable suppliers to receive the early payment of their invoices at more favourable rates and without affecting their debt rating. More than 500 suppliers benefited from this measure.

Store employee looking at a vegetable shelf (photo)
Road intersection from above with one big truck on the road (photo)
Patterned background of short wavy lines (graphic)

Better logistics

Pingo Doce is the fourth company in Europe and the first in Portugal to earn four stars in the Lean & Green initiative. This recognition follows a 55% reduction in carbon dioxide equivalent emissions (tonnes of CO2e/pallet) in its logistics operations in mainland Portugal in 2023, comparing to 2018. Biedronka was awarded one star in 2022, for a 20% reduction in emissions from logistics activities in eight distribution centres between 2018 and 2020. Lean & Green is a European initiative that aims to achieve carbon neutrality in logistics by 2050.

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