German retailer, first to go over EUR 2 bln mark in Romania

German retailer Kaufland posted a turnover of over EUR 2 billion in Romania last year, up 14.6% over the previous year. It is the first local retailer that has passed the EUR 2 billion threshold. Kaufland recorded last year its biggest sales increase in the last three years. It managed to repeat the business growth recorded during the boom years, when the company posted double-digit growth rates. The German retailer recorded a net profit of EUR 146.1 million last year, up 58% compared to the previous year, according to data from the Ministry of Finance. The profit represented 7% of the turnover in 2015 up from 5.1% in 2014. Kaufland opened five units last year. In 2014, the company had over 100 hypermarkets in Romania. editor@romania-insider.com