SIPEX reports turnover of 313 million RON, up 7.4 percent in 2023

SIPEX, one of the largest distributors of construction and finishes materials from Romania, listed on the Bucharest Stock Exchange, on the AeRO market (stock symbol SPX), with a 26-year presence in this segment, announces the preliminary financial results for the year 2023.

The company achieved a turnover of 313.4 million RON, a 7.4 percent increase compared to 2022. The results were supported by the growth of 18.7 percent of the sales from the B2B channel, resulting from product portfolio diversification and the involvement in infrastructure projects that generated higher volumes. The net profit obtained is 11.1 million RON.

Irinel Gheorghe, CEO SIPEX:”2023 was a year marked by significant challenges in the global and local economic context, impacting the construction sector. At SIPEX, we focused our efforts on increasing turnover and maintaining market share. Through the sales strategy adopted, we expanded our customer base and increased sales volumes in both B2B and retail channels. By consolidating the B2B segment, it now represents 40 percent of our turnover.”

SIPEX operates with an integrated business model, organized into three business lines: sales and distribution of construction and finishes materials, services (technical consultancy), and sales of finished colored products.