The warehouses are located in Sascut, Racaciuni, Parincea and Secuieni localities of Bacau county and have a total storage capacity of 48,530 tons, equaling a 40% boost of the company’s total storage capacity.
“Storage capacity expansion is a major component of Grup Serban medium and long-term investments,” says Ovidiu Bucataru, financial officer of Grup Serban Holding.
The total area of the land plot the bases are built on revolves around 12.5 hectares, allowing for subsequent developments, and includes a functional 764-m industrial rail track within Sascut base, as well as a grain dryer with a 1,000-ton daily capacity.
In terms of investments in the new bases, Grup Serban forecasts total capital expenditures of around RON0.5 million by yearend.
“In the wake of this investments and implicitly of total warehousing capacity expansion, we will reach annualized EBITDA increase of RON7.5 million,” adds Ovidiu Bucataru.
Grup Serban Holding registered consolidated revenue of RON530.2 million in 2021, up 50% on the year, and a net profit of RON25.8 million, up 7% on the year.
Its turnover stood at RON481.6 million in 2021, up 55% on the year, and its EBITDA reached RON54.2 million, up 3% versus 2020, as per data from company representatives.
Grup Șerban Holding shares have been listed on the AeRO market of the Bucharest Stock Exchange since February 28, 2022, and are traded under the GSH symbol. Currently, the company has a market capitalization of over RON334 million.
(English version by Catalina Apostoiu)