SIPEX reports turnover of 69.3 million RON, up 10 percent in Q1

SIPEX, one of the largest distributors of construction and finishes materials from Romania, listed on the Bucharest Stock Exchange, on the AeRO market, announces the financial results for the first quarter of 2024. The company recorded a turnover of RON 69.3 million, a 10 percent increase compared to the same period in 2023, supported by the advance of sales in all three distribution channels.

The activity in the B2B channel brought the largest contribution, with an advance of 17 percent in sales. There were also registered increases of 9 percent in sales through the Store & Online channel and of 5 percent in sales through the Retail channel.

Irinel Gheorghe, CEO SIPEX: „In 2024, we faced a series of challenges and changes that we anticipated and started preparing for. We continued to strengthen our position in the market, with a focus on the B2B segment, which represents over 40 percent of our total sales. In the first quarter, we increased our stocks to meet the growing demand and adapted our strategy and actions to prepare for margin growth in the following quarters.”

The net result recorded by the company in the first quarter of 2024 was negative, influenced by the increase in operational expenses, especially those related to the purchase of goods, salaries, and utilities, as well as the new minimum tax on 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.

The company is considering opening a production facility, funded by European funds, in the Ariceștii Rahtivani Commune. It has taken initial steps by acquiring land in 2023, with an area of 7.5 hectares.