we are
cooperation

Men and women who join their efforts to make a better, different, inclusive, responsible, equitable and caring future. Sustainable. Socially, economically, and environmentally.

MONDRAGON is articulated around four business areas: finance, industry, distribution, and knowledge. it is a cooperative identity reality, which seeks to care for its people, competes in the global market, and pursues common progress.

Annual Report 2019

COMPETITIVENESS AND
COOPERATION

Iñigo Ucin, President

The fiscal year 2019 was positive for the group of cooperatives integrated in MONDRAGON: We improved in terms of sales compared to the previous year, generated employment, and gave new impetus to business sustainability.

In the industry, for the first time, we exceeded €6,000 million in sales, improved profitability, created 409 new jobs, and reached €381 million in investments.

In the Finance area, despite the adverse conditions for the industry, our two main entities, Labor Kutxa and Lagunaro EPSV, have evolved satisfactorily.

In distribution, Eroski reached the year of its 50th anniversary with a refinancing agreement, a significant percentage of renewal of its network of shops, and good operating profit that significantly exceeds that of the previous year.

Finally, the Knowledge area gave a new boost to business competitiveness and contributed to the transformation of the business fabric of the corporation.

Nevertheless, this positive evolution in 2019 was affected in in a major way by the coronavirus, in a kind of unexpected turn that “changes the questions when we already had the answers.” Therefore, in all our businesses, adjustment and cost containment measures were immediately activated.

Finally, it should be noted that, this year, we carried out an update of our social and business policy for the 2021/2024 cycle, with the challenge of “improving our position to gain competitiveness, cooperation and flexibility in light of disruptive changes”. In short, this challenge brings us closer to what we wish MONDRAGON to be: a cooperative socioeconomic reality, with committed people, and with profitable, competitive and entrepreneurial companies in a global context, recognised for its human dimension, its social impact, and the efficiency of its businesses.

"This year we have carried out an update of our social and business policy for the 2021/2024 cycle, with the challenge of improving our position to gain competitiveness, cooperation and flexibility in light of disruptive changes"