Selgros turnover for 2004 tops 250 million euros

Selgros, the cash & carry business of German group Rewe, will this year exceed 250m euros in turnover in Romania, an almost 50% increase year-on-year.

“This year we overshot the 10,000 billion ROL threshold (about 250 million euros),” said Selgros Cash & Carry Romania SRL representatives, a company that currently has 2,500 employees. With five stores, the company last year made deals worth 170 million euros, according to the Romanian Public Finances Ministry.

“This year, we opened two trade complexes in two important cities of Romania: Constanta and Timisoara. This strengthened our position on the Romanian market,” added the Selgros representatives.

The company currently has a total of seven stores – three in Bucharest and one in each of Brasov, Targu Mures, Constanta and Timisoara. Total investment in the stores has been in excess of 100 million euros, with one Selgros Cash & Carry store normally costing around 15 million euros.

Selgros entered the Romanian market in 2001, opening its first store in Brasov, where it also has its administrative headquarters. In 2002 it opened a further three stores. As of 2003, the company has only opened two stores per year, with the German group stating at the time that it would be “more careful in investing”.

“Next year we will open at least two new stores,” said company officials. The company has already started recruiting for the store to be opened in Oradea next spring. ionut.bonoiu@zf.ro