The turnover growth was due primarily to a 15% increase in sales in the B2B channel.
Gross profit neared RON14 million, up 7.5% compared with 2023. Net profit decreased by 6.6% to RON10.4 million mostly due to the new minimum turnover tax amounting to RON3.4 million.
“Our financial results for the year reflect our 27 years of experience and our ability to adapt swiftly and efficiently to market developments, marking our best year in terms of turnover, surpassing RON332 million, a 6% increase compared to 2023. EBITDA exceeded RON17 million, marking a growth of 33.3%, with an EBITDA margin reaching 5.2%, indicating more efficient resource management. However, net profit stood at RON10.4 million, a decrease of 6.6% from 2023, primarily due to the new minimum turnover tax amounting to RON3.4 million. Despite these financial intricacies, we achieved growth across all three sales channels— traditional retail, B2B, and online—strengthening our market position. We have continued to invest in business development, allocating over RON4 million towards fleet modernization, technological equipment, and logistic solutions essential for operational efficiency and environmental protection. Retail sales remain our largest revenue contributor, yet the most dynamic growth was observed in the B2B channel, where sales increased by 15% due to our involvement in infrastructure and residential projects,” said SIPEX CEO, Irinel Gheorghe, as quoted in the report.
Operating income climbed to RON340 million in 2024, up 6% on the year, due to sales growth, and the EBITDA reached RON17.2 million, up 33.3% on the year.
Total assets neared RON134 million in 2024, down 1.6% on the year, and total liabilities amounted to RON47.5 million, down 21% on the year.
SIPEX has some 300 employees, 12 logistics centers and a fleet of 191 vehicles.
“Currently, the company benefits from national representation and distribution through a network of 12 logistics centers in different regions of the country, which operate as working and distribution points. The company’s headquarters, located in Ariceștii Rahtivani commune,
Prahova county, has direct access to the national road DN7, covering a total area of 21,000 square meters, hosting a showroom, offices, storage spaces, platforms, equipment, and machinery. The 12 logistics centers are situated in: Ariceștii Rahtivani (Prahova), Bucharest, Pantelimon (Ilfov), Focșani (Vrancea), Bosanci (Suceava), Carcea (Dolj), Budești (Valcea), Cluj, Dumbrava Rosie (Piatra Neamt), Iasi (Iasi), Timisoara (Timis), and Prejmer (Brasov),” the report reads.
Sipex has a RON98 million capitalization and is 91.9%-owned by Constantin-Irinel Gheorghe. SPX shares have traded 3% lower so far in 2025, amid deals worth RON183,208.