Romania’s Profi Confirms Strong Growth in 2023
Romanian food retailer Profi has reaffirmed its strong growth trajectory of recent years, reporting an 11% annual increase in revenue in 2023, to RON 12.9 billion (€2.6 billion).
This follows on from an impressive 22% increase in 2021. This consistent growth builds on a five-year compound annual growth rate (CAGR) of 16%.
Net Profit Performance
Net profit dropped from a negative RON 286 million (€57 million) in 2022 to a negative RON 213 million (€43 million) in 2023.
Profi’s commitment to growth is further highlighted by its store expansion in 2023. The retailer opened or remodelled 160 stores, with 87 being brand new locations – the highest number in modern Romanian retail.
This expansion was achieved while maintaining a strong and stable cash position, even after repaying hundreds of millions in bank debt during the year.
The true measure of Profi’s business performance can be seen in its IFRS EBITDA performance – this metric saw a 17% increase in 2023 compared to the previous year, reaching RON 690 million (€139 million).
Profi Network
Profi’s network consists of over 1,713 stores across nearly 850 Romanian cities and villages. It caters to its 1.2 million daily customers through four store formats – Profi Super, Profi City, Profi Go, and Profi Loco.
Last October, Dutch retail group Ahold Delhaize acquired Profi from MidEuropa Partners for €1.3 billion. Romania’s Competition Council is currently investigating the proposed deal, with a decision likely later in the year.
ESM
Related news
Nestlé rolls out KitKat chocolate tablets in Romania
Nestlé has launched a new 99g KitKat chocolate tablet line…
Read more >REWE Earmarks €3bn To Expand Penny In Romania
German retail group REWE has announced a €3 billion, ten-year…
Read more >Romania tightens precautions against foot-and-mouth disease
Due to the spread of the foot-and-mouth disease virus in…
Read more >Related news
GKI Analysis: Without EU funds, the domestic economy would just flounder
On May 1, Hungary marks the 21st anniversary of joining…
Read more >Csökkentette az élelmiszerárakat az árrésstop és az online Árfigyelő bővítése
2025 áprilisában csökkent az infláció és az élelmiszerárak növekedési üteme…
Read more >NGM: we always take action against unjustified price increases, inflation may decrease further in the coming months
The government is successfully fighting price increases. In April, inflation…
Read more >