Net profit went up, as well, even more, doubling from RON19 million to RON36.5 million. The growth is like-for-like, as no new store opened last year.
The 2024 results turn the company into the first Romanian grocery retailer to overshoot the RON1 billion revenue mark. It achieved the feat with a network of three large stores – two of which in Ploiesti and one in Bucharest. The fourth store, in Brasov, was inaugurated this January. The retailer is now stepping up expansion.
A new store is due to open in Craiova, in the space formerly occupied by PIC, a Romanian brand that is no longer in business, in early August 2025. The company will also go to Pitesti, in the Supernova shopping complex, and use the space formerly occupied by Carrefour. It will also open a hypermarket in Arad, in the space formerly used by a Remarkt (formerly Real) in Micalaca district, which should be inaugurated at the end of September.
The stepped-up expansion comes after two private equity firms – Morphosis Capital and CEECAT Capital, as well as the European Bank for Reconstruction and Development bought into the retailer in December 2024.
(English version by Loredana Fratila-Cristescu)