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Metro posts over 1.5 billion euros in turnover in 2007

German Metro Group, the biggest player on the Romanian trade market, reported 1.95 billion euros in sales in 2007, in Romania, up around 30 percent from 2006.

Metro opened in 1996 the list of foreign investors in consumer goods trade in Romania. It added a second division in 2007, Real Hypermarket. 'The local market is very dynamic, we do not have concrete plans for Real's expansion in Romania, after 2010, but it is likely we will not stop to 21 hypermarkets, we will be seeking new opportunities to expand the chain,' said Metro Group CEO Eckard Cordes. He added the group was looking for new markets in Eastern Europe, for Media Markt and Saturn electronics stores, the sales of which were boosted last year by foreign markets. Metro Cash & Carry Romania chain reported a 11.3 percent rise in turnover last year, to 1.59 billion euros, while the Real hypermarkets increased their sales almost five times in 2007 on 2006, with six new stores opened, and 367 million euros in turnover. Metro Cash & Carry CEO Frans Muller said that the company wants to expand in 2008, considering there still are uncovered areas. The chain opened in the autumn of 2005 a hypermaket in Baneasa neighbourhood, in northern Bucharest, the latest of the network. According to Muller, the investment in a new store will amount to 15-20 million euros. Investment worth 14-20 million euros will be made in upgrading four Metro Cash & Carry hypermarkets. The chain now has 23 stores. In Romania, the German group holds 85 percent of Metro Cash & Carry, the remaining 15 percent are held by businessman Ion Tiriac. A classification of the best companies in Romania, made by daily Ziarul Financiar, in the autumn of 2007, starting from financial data released 2006, put Metro at 1.2 billion euros. Sursa: http://www.rompress.ro

Tags: metro euros romania turnover billion

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