“We have a history of a business that has remained profitable in any context, whether it is an economic, social, or pandemic crisis context. We have seen growth in both turnover and profit in a challenging macroeconomic environment and in a construction sector affected by various challenges. We have continued to focus on developing partnerships and expanding our product range. We are flexible, adapting our offerings continuously to meet market expectations, and efficiently managing the stocks, factors that have supported the advancement of sales. Our objective remains to maintain profitability and grow the business on solid foundations,” said Irinel Gheorghe, CEO SIPEX.
The gross margin was 1.5%. The main category of operating expenses is represented by merchandise expenses, accounting for 85.27% of the total operating expenses. In Q3/2023, the company had a turnover of RON90.9 million, up 10.7% on the year, and a net loss of RON306,900, from a net profit of RON3.2 million in the previous quarter.
Sipex has some 300 employees, owns 12 logistics centers and a car park of 191 vehicles. The company’s places of business and sales points are in Brasov, Bucharest, Cluj, Craiova, Iasi, Ilfov (Pantelimon), Focsani, Piatra Neamt, Prahova (Aricestii Rahtivani), Ramnicu Valcea, Suceava, Timisoara.
Sipex has a market value of RON128 million and is 91.9%-owned by Constantin-Irinel Gheorghe. SPX shares have traded 6.9% higher so far in 2023, amid deals worth RON1.7 million, as per stock market data.