The company recorded a net profit of RON224 million in 2023, up 47% on the year, and estimates a double-digit increase in turnover in 2024.
PENNY Romania invested over RON634 million (over EUR130 million) in the expansion and modernization of its network, as well as in the expansion of the logistics center in Bacau. It further targets investments of EUR1 billion until 2030 in the expansion of its network and the development of logistics competencies. PENNY’s plans for 2024 target the opening of 35-40 new stores and the construction of a new logistics center near Bucharest. In addition, the company is preparing the opening of its first “autonomous” store in Bucharest.
Daniel Gross, CEO of PENNY Romania, said: “We continued in 2023 to strengthen relations with our customers, significantly expand the PENNY network and reaffirm our commitment to the local market, as well as supporting Romanian producers and the economy as a whole. We increased turnover, profit and investments in Romania, improved our services and got even closer to the millions of customers who choose to shop at PENNY, being the first year we opened 40 stores in Romania – a new record for us.”
PENNY Romania has 378 stores and four logistics centers, in Stefanestii de Jos, Turda, Bacau and Filiasi, as well as more than 7,300 employees.