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Business Areas
Growth, Innovation and Commitment
Finance, Industry, Distribution and Knowledge are the MONDRAGON Cooperatives’ areas of business. In 2024, aggregate sales totalled 11.213 billion euros, investments amounted to 376.8 million euros and EBITDA was 1.661 billion euros. The average workforce was around 70.085 people.
MONDRAGON's commitment to innovation continued to be very significant, employing 2,012 full-time R&D staff. Furthermore, the resources earmarked for R&D in 2024 totalled 201 million euros and the total number of patent families in force was 382, a truly significant figure for the Basque Country as a whole. Between technology centres (5) and R&D units (7), MONDRAGON comprises 12 organisations.
Finance
In a year marked by the uncertainty of the world geostrategic situation, LABORAL Kutxa saw a positive end to the year with net profit of 274.6 million euros. LagunAro EPSV also closed a good year, with an overall net return of 7.94% and a solvency margin of 4.05%, exceeding the legal threshold.
In 2024, despite a complex geopolitical and economic environment, LABORAL Kutxa achieved solid growth, with a net profit of €274.5 M (+23.3%) thanks to its cooperative model, operating efficiency and appropriate risk management. The entity stood out for its financial strength (CET1 of 24.85%, ROE of 12.32% and LTD of 64.16%), a 7.7% increase in intermediated funds and a 0.9% growth in lending, especially in companies (+3.8%). In insurance, non-life premiums grew by 7.8%, while life premiums fell by 6%, placing Seguros Lagun Aro among the best in terms of customer satisfaction.
In 2024, LagunAro, EPSV achieved a return of 7.94% on its investment portfolio thanks to the good performance of the markets, which allowed it to slightly improve its solvency margin to 4.05%. The CPI update (2.8%) and part of the pending adjustment for 2022 (4.7%) were approved for certain groups. The number of active mutual members reached 30,101 and pensioners, 15,963. In terms of benefits, healthcare expenses increased (+5.77%) and temporary disability (absenteeism of 6.99%). In addition, disability management programs were reinforced. In Employment Aid, spending was much lower than expected, allowing the fund to rise to €157.67 million.
Industry
Global economic growth stood at 3.3% in 2024, halting the global slowdown that had been occurring in previous years. This has been made possible by the containment of inflation and better-than-expected global growth dynamics in general. Even so, geopolitical risks have once again dominated the year and uncertainty has been present in the markets.
In short, it can be said that, despite the challenging environment, the Industry segment ended 2024 with a solid performance, combining growth in domestic sales, improved results, stable employment and a firm focus on innovation and international competitiveness.
Sales
MONDRAGON's Industry division posted sales of 5,020 million euros, with growth in local markets of 7.4% and a high level of internationalization (73% of the total), despite a slight fall of 2.4% abroad.
Profitability
Net profit in the industrial area was 267 M€, an improvement on the previous year, reflecting its solidity and capacity to adapt.
Employment
26,714 jobs were maintained, with 9,512 people working in production plants outside Spain, with international expansion standing out.
Investments
200 M€ were invested in improvements in production, efficiency and new facilities to reinforce competitiveness.
Innovation
201 M€ were invested in R&D, with a workforce of more than 2,000 full-time researchers.
Distribution
This Area consists of the Eroski Group, the core business of which is retail, with the main company being Eroski, S. Coop. and with Erkop, a second degree cooperative made up of four cooperatives in the food industry, together with its investee companies.
The distribution division ended the 2024 financial year with net sales of 6.193 billion euros and an average total workforce of 39.116 employees, including cooperative members, workers and franchisees.
In 2024, EROSKI achieved sales of 5,885 M€ (+2.7%), with a net profit of 81.7 M€ (+23% in profit before tax). It maintained an EBITDA of 332 M€ and reduced debt by 59 million. Invested in digitalization, AI and operational efficiency, renovated 36 stores and opened 60 new ones, and generated €408 million in savings for customers. With 1,502 stores and more than 27,600 people, it reaffirms its cooperative, social and innovative leadership.
ERKOP closed 2024 with sales of €308 M and a profit of €8.9 M, with a workforce of over 11,000 people. It completed the first phase of its strategic transformation towards the “Erkop of the Future”, advancing in diversification, innovation and internal strengthening projects, aligned with its new Strategic Plan 2025-2028.
Knowledge
The knowledge area comprises the Knowledge Division (Educational Centres, the University and Technology Centres), as well as the Innovation Department at the MONDRAGON corporate centre and the Promotion Centre. Total R&D expenditure amounted to 201 million euros, representing 4.0% of total sales, employing 2,012 full-time researchers.
Created in 2023, the Knowledge Division brings together educational centers, Mondragon Unibertsitatea and technology centers, with 2,000 people, a budget of €180 million and 22 sites. In 2024 it was consolidated as a unique ecosystem ranging from education to knowledge transfer. Highlights include the opening of the Hirekin center and the promotion of cooperative entrepreneurship with initiatives such as Orbik, in addition to the recognition of the social impact of Mondragon Unibertsitatea.