MAM Bricolaj (MAM), a smaller Romanian Do-It-Yourself that recently listed its shares on the Bucharest Stock Exchange (BVB), will open its third store in Bucharest. The new unit is not far from market leader Dedeman's biggest outlet in the city.

MAM Bricolaj is investing EUR 1.65 mln in the store that will be inaugurated on March 30 on Prelungirea Ghencea boulevard - a fast-growing area that is also close to the city's densely populated western neighborhoods (Drumul Taberei, Militari).

The retailer's three stores in Bucharest are only the beginning of a national-wide network, the company promises in a statement sent to investors. The next store will be located in Brasov and, in the long term, the company envisages a total of twelve units in Romania's first-tier cities.

Unlike the major DIY chains that offer a broad product range, including construction materials and gardening equipment, MAM Bricolaj focuses on the equipment and materials needed by small furniture producers.

In 2019, MAM Bricolaj recorded a turnover of almost RON 40 mln (EUR 8.2 mln), up by a third compared to 2019, with just two stores. Its net profit also went up by a third, to RON 4 mln (EUR 0.61 mln).

This year, the company aims to increase its revenues by 76% to RON 70.6 mln (EUR 14.4 mln) and the net profit by 50% to RON 5.4 mln (EUR 1.1 mln), according to the budget subject to shareholders' approval.

The company's market capitalization is RON 86.7 mln (EUR 17.7 mln).

andrei@romania-insider.com

(Photo: Cristian Gavan, founder MAM Bricolaj; photo source: the company)