Romanian retailer Profi has recorded a sales increase of more than 22% in its 2022 financial year, to 11.7 billion RON (€2.3 billion).
EBITDA increased by 5% compared to the previous year, the group said.
Chief financial officer Andrei Bica noted that the performance came despite the "atypical business conditions" of recent years, such as the negative impact of COVID, supply chain disruptions and energy price volatility.
Strategic Approach
Profi ended last year with 1,641 stores (with approximately 440 stores trading under the new Profi concept), of which over 1,000 stores are managed by partners, a strategic approach that the retailer plans to continue.
The Profi loyalty app registered over 1.4 million accounts as of the end of 2022, the group added, and has about 1.7 million accounts today.
Automating Processes
As part of its strategy for 2023, Profi plans to continue to open and remodel more than 200 stores.
The retailer also aims to accelerate its digital agenda, both by offering new digital products to customers, as well as by automating processes in stores and offices where possible.
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New Profi Format
"In 2022, Profi sales registered an advance of over 22%," Bica commented. "The considerable increase in sales was generated both by like-for-like growth of 18% – exceeding the annual rate of inflation – and by the more than 270 new stores, approximately 100 openings and more than 170 remodels.
"Furthermore, the approximately 440 stores that operate under the new Profi format had a spectacular like-for-like increase of 28%."
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© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.
