Profit of Romanian DIY chain Dedeman up nearly 30% in 2019
The revenues of do-it-yourself (DIY) chain Dedeman, the biggest company owned by private Romanian investors, increased by 14% to RON 8.2 billion (EUR 1.73 bln) in 2019, Ziarul Financiar reported.
It was the sixth year when the company's turnover increased by more than RON 1 bln.
Its net profit rose even faster than the revenues, in 2019, by nearly 30% to RON 1.3 bln (EUR 270 mln). This resulted in an impressive net profit margin of over 15%.
Dedeman accounts for more than half of the local DIY market being one of the largest networks of this kind in the region.
Dedeman is also the most valuable brand owned by Romanian shareholders, according to the latest report of Brand Finance, a global independent brand evaluation and strategy company.
The company is controlled by local investors Dragos and Adrian Paval.
In recent years, the Paval brothers have used Dedeman's massive profits to diversify their investments into real estate, manufacturing, and energy through the acquisition of office and industrial projects and stakes in Romanian blue-chip companies.
(Photo courtesy of the company)