Online supermarket Picnic booked a net loss of €78 million in the Netherlands last year, the Financieele Dagblad has reported.

The figures come from the company’s annual report and are an improvement on the €104 million loss booked in the Netherlands in 2022, the FD said.

Last month the paper said the company had booked a group loss of €220 million in 2023. Picnic, which has no physical stores, is also active in Germany and France.

Director Michiel Muller told the paper in an interview in August that the company had booked a profit in the last four weeks of last year, partly due to its robotized distribution centre in Utrecht.

Muller did not say how much profit the company made but said if the company continues to perform as well this year, it will book gross profit (ebitda) of €4 million. It might be a modest amount, he said, “but we have always said we first want to grow quickly and then automate.”