Romanian DIY retailer Dedeman reaches EUR 1.17 bln turnover in 2016

Romanian DIY retailer Dedeman recorded a turnover of RON 5.25 billion (EUR 1.17 billion) last year, up 20% year-on-year. The company, controlled by Romanian investors Adrian Paval and Dragos Paval, became the first Romanian entrepreneurial company with a turnover of over EUR 1 billion per year, reports local Ziarul Financiar. In 2015, the local economy had 15 companies with a turnover of over EUR 1 billion. The retailer plans to increase its business by 7% this year, said Dragos Paval. “Dedeman could run over EUR 1.25 billion this year due to new stores and increasing sales,” he added. Last year, the network opened new stores in Oradea, Satu Mare, and Bacau. In 2015, the retailer increased its business by 28% to EUR 980 million. In the last decade, the company has increased its turnover about 11 times. Dedeman has the largest DIY network in Romania, but also one of the largest in the region. editor@romania-insider.com