The investment in the Agroland MEGA Timisoara store stood at EUR200,000, but the amount does not include merchandise stocks.
The company’s management estimates sales of over EUR1 million for Agroland MEGA Timisoara in 2023 and an average daily traffic of approximately 200-300 people. Located in the Funshop Park Shopping Center, Mega Timisoara covers an area of approximately 630 square meters, including the warehouse, and has a range of over 3,000 products.
Opened on May 12 in Timisoara (Timiș County), the new Timisoara Agroland MEGA store is the second MEGA location opened in this city, after Agroland MEGA Mosnita, and the third unit opened by the company in 2022, after MEGA Pascani and MEGA Husi.
Agroland Business System reported consolidated revenues of RON233.9 million in 2021, up 23% from 2020, and a net profit of RON8.5 million, in line with the net profit estimated for 2021 by the company in the memorandum for admission to trading on the Bucharest Stock Exchange.
In 2021, the group operated 252 stores, of which 14 MEGA and 238 traditional units. In 2022, the company plans to reach 30 MEGA stores across Romania, as per the annual report for 2021.
For 2022, Agroland Business System targets a turnover of RON241 million, an EBITDA of RON20.7 million and a net profit of RON13 million. It also envisages total investments of almost RON17 million to develop all business lines.
The company has a stock market capitalization of RON163.7 million and is 69.7% held by Horia Cardos. The AG shares have lost 6.2% in 2022, amid deals worth RON8.3 million, in line with stock market data.