Romania’s annual inflation rate accelerated to 15.1% in June 2022 compared to June 2021, data from the country’s statistics board INS showed Tuesday (July 12). The country’s annual inflation rate surged to 14.5% in May 2022 and to 13.8% in April 2022.
A double-digit growth in 2022 would take Altex’s turnover close to the RON6.5 billion threshold after a 16% increase in 2021. In 2021, Altex had a net profit of RON129.5 million, up 5% from 2020.
Altex has a network of 125 physical stores in Romania under the brands Altex and Media Galaxy and the company thinks there is still room for expansion.
Altex is set to launch a marketplace platform that will sell a wide range of products, besides the electro-IT items, but new products will be gradually added on the platform depending on clients’ needs and the capacity to deliver in competitive conditions at the level of both services and prices.
“We target investments of over EUR30 million in 2022. The launch of the marketplace platform, of the Altex mobile application, the retrofitting of Altex and Media Galaxy stores, the opening of new units, and the consolidation of the strategy on renewable energy- these are the main investment projects of Altex Group.”