HEMA had a turnover of 1.3 billion euros in 2018, an increase of 2.8 percent compared to a year earlier and a new record, HEMA reports Wednesday.

The group incurred a net loss of 232.9 million euros, but this was largely due to a one-off depreciation.

The group had to write off the so-called goodwill, an accounting item that includes the intangible value of a company, through the purchase of HEMA by Marcel Boekhoorn.

Without this item, the loss would have been 6.6 million euros, an improvement of 24.3 million euros compared to a year earlier.

The group also says that the bakeries may be sold. HEMA is investigating the "strategic options" for this component. The proceeds from a possible sale will be used to reduce the debts.