- March 11, 2024
Amazon reports a profit for its retail division in Europe for the first time. The Group was helped by high tax refunds. However, the overall result on the continent has declined.
Amazon EU Sarl, which manages Amazon’s retail business in Germany, the UK, France, Italy, Spain, Poland, Sweden and the Netherlands, achieved net sales of 53.3 billion euros in 2023, an increase of 4.7 percent, reports the German Lebensmittel Zeitung.
This is mainly due to dividend payments from affiliated companies and a tax credit of almost 737 million euros, without which the result would have been minus 2.4 billion euros. In contrast, revenue from the marketplace business rose by around 17 percent to around 27.5 billion euros.
- Tags:Retail
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