“From 2019 to 2023, their revenues grew at an average annual rate of 9.3%, compared to 5.7% for the other operators,” explains Mediobanca’s Focus Gdo. “The distance between the two aggregates narrowed in 2023, when the discounters’ revenues grew by 9.2% and those of the other operators by 7.3%. Even in terms of marginality, the discounters stand out with an Ebit Margin of 4.8%, which compares with 2.3% for the other groups, and a Roi of 16.5% (5.9% for the other operators), which is also higher than the average of the international panel (9.5%)”.