Profit of Romanian DIY chain Dedeman up 14%

Dedeman, the largest Romanian do-it-yourself (DIY) chain controlled by local investors Adrian and Dragoş Pavăl, announced that its turnover rose by 14% year-on-year to RON 7.22 billion (EUR 1.55 billion) in 2018. The company's net profit hit RON 1.013 billion (EUR 218 million ), rising by a similar annual rate of 14%, Ziarul Financiar reported.

The yearly growth rates slightly eased from 2017, when they hit 20% (for turnover) and 25% (for profit) in 2017.

Besides operating the largest DIY chain in the country, Dedeman also owns the office projects The Bridge in Bucharest and The Office in Cluj-Napoca.

The DIY chain reached at the end of last year a network of 49 stores, after opening its latest store in the eastern part of Bucharest (Pantelimon) in September 2018, following an investment of EUR 15 million. This was the sixth Dedeman store in Bucharest.

In 2017, Dedeman opened a store in the northern part of the city (Băneasa), the largest and most expensive store in the network, following a EUR 36 million investment. Dedeman also opened stores in Turda and Iasi last year.

The DIY chain employs 10,600 people.

(Photo source: Facebook/Dedeman)