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18 April 2018

Penny Market announces an increase in turnover of 17%

Penny Market reported a turnover of almost LEI 3 billion in the calendar year 2017, with 5% more than in 2016. The registered increase for the Penny Market division is 17% more compared to the previous year. The company continues to invest in the Romanian retail market given its expansion strategy, care for meeting customer's needs and high quality products from local producers.

In 2017, the Group invested over LEI 482 million in the modernization and expansion of its network in order to offer Romanians a unique shopping experience, thus reaching 223 stores and 3 logistics centers. Furthermore, REWE Romania’s contribution to the Romanian state budget in the previous year exceeded LEI 136 million. ”2017 was a good year for us, and figures speak for themselves in terms of the company’s evolution. For Penny Market we recorded a 17% increase in turnover compared to 2016, we grew steadily and we extended our network in 2017 with 26 stores and this plan of expanding our network by 20-25 stores each year, remains valid. We will invest in Romania and develop our business here so that in 2025 we will reach 400 stores. Financial results are good news for both our employees and customers, and we thank them for their trust and for choosing to make their daily shopping in our stores,” said Daniel Gross, General Manager of REWE Romania. Penny Market has also increased its number of employees: in 2017, approximately 4,300 employees worked in the company, 8% more than in 2016, and the average age within the team is 33 y.o. Employee benefits include an attractive salary, plus a performance bonus, professional development training, loyalty bonus, bonus for recommending a future colleague, private medical insurance, meal tickets and gift vouchers for Easter and Christmas, as well as diapers for newborns and school packages for the children of employees. Penny Market has entered the Romanian market in 2005, with an acquisition policy focused on product range from regional producers and collaborations with local producers. At present, Penny Market is among the companies with over 60% local product range, thus contributing to the development of the agri-food sector and the support of the Romanian economy. For the current year, Penny Market’s plans include: expanding investments in accordance with ISO 50 001 certification, modernization of all stores in the network, expanding and continuing of the collaboration with Romanian producers along with the involvement in community support activities and environmental protection. The company will continue to constantly adapt its network of stores, focusing on modernizing its design, flawless organizational processes using new technology and, of course, developing a range of products with emphasis on their freshness and variety. Throughout 2017, the company has taken responsibility for the benefit of society, its goal being to engage in its communities and to develop an environmentally friendly business model. Thus, the company developed in 2017 social programs in partnership with World Vision Romania, Save the Children and Habitat for Humanity, programs that will continue in 2018.