The decline was caused by stagnant sales in March, impacted by the difficult weather conditions and sudden temperature changes, as well as the extended payment terms on certain projects in the construction sector. This triggered an operating loss of RON1.2 million, according to the report.
Operating expenses shrank by 2.6% to RON69.2 million, while the net result consisted of a RON1.9 million loss, compared to RON1.1 million loss recorded in the first quarter of 2024.
“The first quarter of 2025 was marked by significant challenges for the entire market of building materials. We are aware of the current
market difficulties, especially those caused by a lack of fiscal predictability and pressures on operational costs, but we remain confident in our long-term strategy,” stated Sipex CEO, Irinel Gheorghe.
Gheorghe went on saying: “We aim to strengthen SIPEX’s position among the top construction material distributors by expanding our product portfolio, developing strong partnerships, and increasing operational efficiency. The B2B channel, which generates large volumes and approximately 44% of turnover, remains a strategic priority. We have worked with our German partner Meffert AG, for which we hold the exclusive license, and will promote new product packages dedicated to the B2B segment. The strategic partnerships we have entered into give us a competitive edge in promoting solutions tailored to B2B clients, and we are in the process of launching new product ranges for this segment, designed to better meet market demands. Our focus remains on sustainable growth, including the development of a construction materials production unit.”
Sales from the B2B and Retail channels, which account for over 99% of total sales, recorded slight decreases in Q1/2025, of 3% and 4%, respectively, compared to the first quarter of 2024. Meanwhile, the Store & Online Division saw an increase of over 29%.
Total assets neared RON139 million in January-March 2025, up almost 4% year-over-year. Total liabilities reached RON54.5 million, down nearly 15% year-over-year.
Listed on the AeRO Market of the Bucharest Stock Exchange, SPX shares have lost 29% over the last 12 months, triggering a market capitalization of roughly RON100 million. Irinel Gheorghe owns 91.9% of the company’s share capital.