Ostahie, Altex: This is no time to make evaluations

Dan Ostahie, founder of the Altex group, the largest player in electronics and home appliances retail, has now adopted a prudent strategy and seeks to adapt to the economic environment, which has been transformed by the international financial crisis, while over the last few years, it had focused on a strong development of its core business. Under the current economic circumstances, Ostahie is reluctant to make evaluations for the group he has been running since the early 1990s. “This is an inappropriate time to assess the value of a listed or unlisted company. “This would be fishing in troubled waters, and you don’t fish in a time of crisis,” Ostahie said. He added that over the last few years, the EBITDA multiples used in the retail sector have seen a steady decline, down from an average of 8 to an average of 6.