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Praktiker Romania's H1 sales, up 18.5%

Praktiker Romania, the local subsidiary of German do-it-yourself retailer registered some EUR 128.5 million worth of sales in Romania in the first half of 2008, some 18.5 percent higher than in H1 2007, Business Standard reports in its Thursday's issue.

According to the group's financial report, Romania is one of the most dynamic markets for the German operator, along with Poland and Bulgaria. By the end of June, Praktiker had 22 stores in Romania, five more than last June. The company targets 30 locations in the coming 2-3 years. The volume of net sales in Romania in H1 2008 was lower only compared to Germany (EUR 1.418 billion) and Greece (EUR 129.9 million). At a group level, sales dropped 0.4 percent year-on-year, to EUR 1.9997 billion. However, earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 92 mln, higher compared to the EUR 76.5 mln registered in H1 2007. The company reduced its sales increase estimates for 2008, due to lower German consumer confidence. However, EBITDA is expected to rise to EUR 135-140 mln, from EUR 116 mln in June 2007. The company's direct competitors on the local DIY market are the international companies Bricostore, bauMax, Mr. Bricolage and Hornbach, and the networks developed by the local investors Dedeman, Ambient and Arabesque. Sursa: http://www.rompress.ro

Tags: sales romania praktiker

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