PENNY Romania reports net profit of 224 million RON in 2023, expects double digit growth for 2024

PENNY Romania ended 2023 with a turnover of over 8.32 billion RON, up 16 percent compared to the previous year. The company invested over 634 million RON, the equivalent of over 130 million euros, in the expansion and modernization of its network, as well as in the expansion of the logistics center in Bacău.

The company recorded a net profit of 224 million RON, up 47 percent in 2023 and estimates a double-digit increase in turnover in 2024.

PENNY’s plans for 2024 aim at opening 35-40 new stores, as well as building a new logistics center near Bucharest. In addition, the company is preparing the opening of its first “autonomous” store in Bucharest.

Daniel Gross, CEO of PENNY Romania, said: “We continued in 2023 to strengthen relations with our customers, significantly expand the PENNY network and reaffirm our commitment to the local market, as well as supporting Romanian producers and the economy as a whole. We increased turnover, profit and investments in Romania, improved our services and got even closer to the millions of customers who choose to shop at PENNY, being the first year we opened 40 stores in Romania – a new record for us.”

In 2023, PENNY Romania recorded a turnover of over 8.32 billion RON, marking a 16 percent advance compared to the previous year. By the end of the year, PENNY ended up operating 376 stores and 4 logistics centers. It is the 9th consecutive year that PENNY Romania had the highest turnover growth among food retail entities in the REWE group.