June 2019
Chairman's Address
After a long and successful path lead by my predecessor, Roberto Tojeiro Rodríguez, whose dedication and contribution must be well acknowledged, I am taking over from him with full awareness of the excellent work he has carried out to achieve the modernization and growth of the company. I am really excited to take on the responsibility to continue driving Grupo IFA along this path and to explore new horizons to lead the future.
Regional distribution in Spain represents an unprecedented phenomenon in Europe, not only due to its successful past, but most notably, as a result of the promising future that lays ahead. There used to be a great deal of regional operators in Europe, but most of them gradually disappeared or were involved in national or international group merges. The ones persisting are now considered to be an endangered species, whereas in Spain, they continue to grow in one of the most competitive markets in Europe, for the benefit of consumers.
Our permanent identity consisting of proximity - both physical and emotional -, the quality and service of our fresh produce, the wide range of products which allows for greater choice, together with the competitive stance offered by the Head Office to our affiliates, makes for an unbeatable combination in our market in recent years.
Our excellent results in 2019, in which for the fifth year running we have grown by 5%, are again good proof of the strength of our business model today, in the past and in the future to come, and it consolidates the opportunity given by our Company to all the stakeholders in the food supply chain.
Today, IFA - as a group of companies - represents the greatest chance for brands, manufacturers, suppliers and all the collaborators involved. This is so, thanks to the commitment to value creation, local produce, and the social value model by which millions of households throughout the country can be reached with a commercial format that is sustainable by definition.
The year 2019 has seen the consolidation of our international programme, as we are currently leading the food retail sector in the South of Europe. This is thanks to the impeccable integration of Gruppo VéGé, which provides a platform for sustainable growth as well as brand and innovation development in a geographic area of over one hundred million people.
We firmly believe that changes made to our Board of Directors will give the Group a renewed impetus to help us meet the demands of the current times of uncertainty we are facing, which, nonetheless, will pose a fascinating challenge.
We have managed to make progress in 2019 by following the strategy set out in our 2018-2020 strategic plan, the last section of which will be addressed in a few months. These significant advances have allowed us to continue working on raising competitiveness without losing focus on promoting the efficiency of collaborative and synergistic solutions with the Head Office.
In addition, we must continue to modernise our businesses in order to meet the demands of a new kind of consumer who demands greater flexibility and versatility.
We are proud of our work, but we must continue to steer our efforts towards working together, as together we are better and have better chances to successfully lead an ever more challenging future.
JERÓNIMO MARTÍN RODRÍGUEZ
Chairman and CEO of IFA RETAIL, S.A.

MISSION
Three features that underpin our character
We are committed to achieving EXCELLENCE, because this is the only way of ensuring that our customers will rely on us, more and more, day by day. We are also rmly committed to INNOVATION throughout the whole value chain, always providing our customers with free choice. Our conciliatory spirit always seeks to BALANCE between the independence of our members and our shared plans, fostering happy co-existence between our local and national suppliers.

VISION
Our aims
The objective of Grupo IFA is to be the best retail group in Spain, made up of Affiliate companies, all of which are leaders in their respective regions, and supported by a head office that provides services development, innovation and added value for every component within the chain.
We have embarked upon an ambitious path that will transform the central purchasing body into a true retail group operating in areas where, together, we can offer the greatest value, without losing sight of those features that make each company within the Group unique.
Our ultimate aim is to become a true agent for change within a sector that requires impetus and balance, setting our sights on creating value and working to ensure growth and employment in our market.

VALUES
What is important to us
Grupo IFA’s values stem both from our commitment to serve society and from our inner nature.

Proximity
Our points of sale all over Spain are a good reflection of this value, and the true significance of this is complemented by our in-depth understanding of our consumers, their needs and desires.
It is also reflected in IFA’s agreements with local suppliers, especially with regard to fresh products.

Quality
We have been working hard for almost 50 years to satisfy the demands of the market. This is why we select suppliers that best meet the quality standards that our customers want.
Our stores are dominated by fresh products, guaranteeing top-quality raw ingredients thanks to intense negotiations with the best fish markets to ensure the freshest of fish, with local markets to obtain recently-harvested fruit and vegetables, and with leading livestock farms in each region.

Balance
The Group’s solidity means we can balance the autonomy and management independence of our affiliate companies within a cohesive project that favours the whole.
We also know how to maintain balance between our local and national suppliers to offer our consumers the greatest possible freedom and choice in their purchases.

Variety
We are committed to responding to every need, so we o er a universal range of products, manufacturers and prices, representing everything from the most innovative of products to major brands and our own-brand.
We do this because we know that not all tastes and needs are the same, and we rmly believe that free choice is of key importance in ensuring maximum satisfaction in our customers’ shopping experience.


Innovation
Innovation has always been part of the DNA of Grupo IFA. We were the rst to develop the multiple chain and cash & carry concepts in Spain, as well as pioneering the use of bar code readers and implementation of the EDI system.
Since the outset we have supported product launches and the work of suppliers in a bid to add value within the various categories, and we are working to develop a distribution model that will meet the expectations of current and future generations.

Versatility
Our points of sale come in all sizes. We can be found both in large cities and in small towns. We have international, national and local suppliers... because what de nes us is not where we come from nor does our size, but rather a shared way of being and understanding of the nature of our work.

Trust
This is one of the values that underpins the most genuine and lasting of relationships, and we work to encourage it every day through our friendly nature and the quality of the products available.
The Board of Directors is made up of 14 Directors and a Secretary, who is not a Director. It includes a Chairman and a Vice-chairman- who are also CEO’s - and a CEO.

D. Eduardo Serrano Vallejo
Ahorramás, S.A.
Vice-Chairman and CEO
D. Alejandro Fernández Gonzalez
Alimerka, S.A.
Chief Executive Officer

D. Alejandro Fernández Gonzalez
Alimerka, S.A.
Chief Executive Officer
Board of Directors

D. Joan Font i Fabregó
Bon Preu, S.A.

Dª. Manuela Bella Díaz Orta
Cash Lepe, S.A.

Dª. Maria Pilar Condal Bargos
Condis Supermercats, S.A.

D. José Abraham Domínguez Santana
Dinosol Supermercados, S.L.

D. Roberto Tojeiro Rodríguez
Gadisa Retail, S.L.U.

D. Josep Saperas Vergara
HD Covalco S.L

D. Gregorio Gilarranz Sánchez
Hiper Usera, S.L.

D. Luis Mesquita Soares Moutinho
Modelo Continente Hipermercados, S.A.

D. Rafael Ruiz Alonso
Teógenes Ruiz, S.L.

D. Juan Antonio Gomez Pérez
Unagras, S.A.

D. José Ramón Fernández de Barrena
Uvesco, S.A.
Secretary (no Director)
D. Francisco Javier de Asis y Garrote
Centralizaed Purchasing Commitee
The Commercial Committee, made up of A liates and Head O ce executives, carries out continuous market and sector analysis, and has decision-making power. It also provides information and makes recommendations to the Board of Directors about measures to be taken, for which the Board must give final approval.

D. Miguel Rodríguez López
Ahorramás, S.A.

D. Álvaro Fernandez-Fournier
Alimerka, S.A.

D. Joan Sabartes i Pardo
Bon Preu, S.A.

D. Manel Romero Romagosa
Condis Supermercats, S.A.

Dª. Olivia Llorca Afonso
Dinosol Supermercados, S.L.

D. Santiago Codesido Barreiro
Gadisa Retail, S.L.U.

D. Adolfo Martínez Carnero
Grupo Hermanos Martín, S.A.

D. Pere Kaiser Cozar
HD Covalco, S.A. Unipersonal

D. Francisco Sánchez del Arco
Hiper Usera, S.L.

D. Jaime Femenias Dols
Unagras, S.A. - Hiper Manacor

Dª. Mª Paz Fernández Vega
Unialco, S.L.

D. Juan Manuel Morales Alonso
IFA RETAIL, S.A.

D. Víctor Pérez Díez
IFA Retail S.A.
Our raison d'etre
Our customers are the central pillar of Grupo IFA. All our work is aimed at providing them with a better service, and this is why shoppers are choosing us in ever-increasing numbers.
We adapt our product lines to suit consumer demand, ensuring them of the quality and safety they deserve. We try to ensure that our supermarkets satisfy their consumption needs effectively, quickly and comfortably, and we run very popular ongoing promotions in partnership with our suppliers.

Grupo IFA’s commitment to new technologies also contributes to our good relationship with our customers. Our Affiliates have developed online sales channels, and have adapted their means of payment to reflect the latest trends.
All this explains the success of the “IFA formula”. According to the consultancy Kantar Worldpanel, more than one in every two Spanish consumers do their shopping in Group supermarkets. This recognition brings us the greatest possible satisfaction.

Working hand-in-hand for a better future
Grupo IFA believes in the importance of its suppliers. They are our greatest allies in developing initiatives to meet our consumers’ needs more efficiently.

An example of this close collaboration can be seen in the 614 commercial agreements that bind us, and the launch of 10 major projects related to innovation, the development of new categories, and coordinated promotional work – all of which are focused on improving the value chain.
Our objective is to continue our commitment to innovation among our suppliers and to free choice of brands and formats for our consumers, for the benefit of all those involved in the value chain, and thus society as a whole.