ECONOMY

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Initiative

Socioeconomic Impact Report

Socioeconomic Impact Report
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Lidl Hellas

Lidl Hellas has been active in Greece since 1999. Today the company employs more than 6700 workers, while its network includes 230 stores and 5 state-of-the-art supply centers. It is included for the 6th consecutive year in "The Most Sustainable Companies in Greece", while for the 7th consecutive year it receives the distinction of "Top Employer" in Greece and Europe.
At Lidl Greece we are proud because we build perspective for all our stakeholders, on solid, sustainable foundations. Business ethics are a source of inspiration for our values and the chain of responsibility becomes an act of sustainable empowerment for our own people, consumers, partners.
Sustainability for us is not a simple wording, but shapes our business profile and runs horizontally through our daily life.

We are moving on the trajectory of a new sustainability strategy, which develops in three dynamic axes: "Good for the planet", "Good for people" and "Good for you" with the individual actions spread over six strategic pillars: climate protection, respect for biodiversity, conservation of resources, business law, health protection and participation in dialogue. It is a functional as well as an innovative approach that allows us to respond with best practices, at the right time, to a variety of challenges. We adapt quickly, build efficiency and remain sustainable, extroverted and beneficial to the whole.

www.lidl-hellas.gr

 

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Objective Action

Recognizing the importance of its broader impact on the national economy and jobs, the company wanted to measure its direct and indirect contribution for the fiscal year 2022, with the preparation of its eighth Socio-economic Impact Study.

The purpose of the study is to identify and evaluate the impact of the company's operations in Greece on the economy, tax revenues, employment and society of the country. In the context of this study, the United Nations Sustainable Development Goals (SDGs) is used as a reference point for accountability and strategy.

Driven by innovation, quality and people-centred development across its activities, the company presents its footprint on the economy and society, from investments and resources, and constantly redesigns its processes and strategy, leveraging its competitive advantages. 

This is an annual study, carried out after the end of each financial year, which aims to calculate the goodwill generated by the company's business activity in the country and to communicate this information transparently in the context of dialogue with its stakeholders. 

 

Target Audience

Based on transparency and objectivity, Lidl Hellas addresses all stakeholders, as well as interested social and economic actors, in order to form a comprehensive perception of the economic and social value we create in Greece.

It is addressed to the internal and external stakeholders of our company:

Organizational (internal to the company): employees, managers, associations.
Financial (external to the company): customers, creditors, distributors, suppliers.
Social (external to the company): communities, government, non-profit organizations, environment.

 

Duration

The study covers the period March 2022 - February 2023, while communication started in November 2023 and continues until today.


Description

Recognizing the importance of its wider impact on the national economy and jobs, Lidl Hellas wanted to measure its direct and indirect contribution by preparing the eighth consecutive edition of the socio-economic impact study of the company in the country, which covers the period March 2022 - February 2023.
The findings in terms of value added, job support and payment of taxes and contributions to the Greek state are presented in detail in the study in the form of indicators.

The method used in this study to calculate the socio-economic impact of Lidl Hellas in Greece is based on the input-output model. This methodology allows modelling of the cascading effects within the economy and, therefore, the calculation of value added and jobs throughout the supply chain.

Consequently, direct, indirect and induced effects are calculated on the basis of the specific structure of the Greek economy and the interactions between the different sectors. The primary elements (inputs) of the input-output model are the financial results of the company's operations and the other direct results of Lidl Hellas' activity. The main source of primary data of the input-output model was the database and financial statements of Lidl Hellas (revenues, employees, wages, taxes, payments to suppliers), as well as data from the European Statistical Office (Eurostat). The outputs of the input-output model are the value added and employment generated throughout the value chain of Lidl Hellas in Greece.


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Impact on Society

The total value added to the Greek economy in 2022 was €953 million, corresponding to 0.46% of the country's GDP, while the contribution to the state's tax revenues reached €363 million, corresponding to 0.48% of its total tax revenues. Reference is also made to the support of jobs, of which the total number* in Greece today is 33,147, of which 6,772 are direct, 20,654 indirect and 5,721 induced. Finally, it is noteworthy that the company's investments in donations, sponsorships and expenditure on social and environmental actions amounted to €1.35 million, while the value of the product offering reached €435,000.

Lidl Hellas supports the growth of employment and sectors of the Greek economy by supporting and promoting products from Greek suppliers. The promotion of Greek products is carried out not only on a national, but also on an international level, through Lidl's extensive network of stores and in other countries. The Greek product export figures for 2022 are €463.4m turnover in direct exports of Greek products from Greek suppliers to Lidl countries, of which €49m turnover is for direct exports of Eridanous products from Greek suppliers to Lidl countries, while €166m turnover is for direct exports of fruit and vegetables from Greek suppliers to Lidl countries.



Initiative Location

The study was carried out at the offices of the services department of the Climate Change and Sustainable Development Division of EY Hellas.


Working with Organization

The study was prepared with the support of the Climate Change and Sustainable Development Department of EY Greece.


Workers Participation

For the preparation of the study, executives of EY, the Corporate Responsibility department of Lidl Hellas, the financial management of the company as well as other sectors involved collaborated. 


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Benefits for Οrganization

The challenges for the future are many and great, but the importance of the work Lidl Hellas is called upon to accomplish every day is even greater. A project that is driven not only by the profitability of the company, but also by the added value of all stakeholders, the well-being of the people and the common interest, for a sustainable future and a better tomorrow for all. The socio-economic impact study documents just that.

Lidl Hellas envisions to become the most sustainable food retailer in Greece. Looking to the future and doing business today, with an eye on tomorrow and future generations. For this reason, sustainability is an integral part of its corporate strategy. It is an active member of society and the economy and understands its role and responsibility towards domestic challenges as Lidl Hellas, but also towards international challenges as one of the Schwarz Group companies. In order to successfully meet these challenges it is constantly developing its sustainability strategy and setting high targets. In this way, it demonstrates its responsibility towards people and the environment.

 




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