Flanco sales amount to EUR 78 million in H1 2015

Flanco, an electronics retailer in Romania, recorded sales of RON 345 million (EUR 77.9 million) up 20 percent year on year, say company representatives.

In the first four months of the year, Flanco posted sales of RON 235 million (EUR 53.1 million).

According to the company, growth in the second quarter was at the same level as in the first quarter. According to its etimates, the market grew by about 9%.

“We managed to keep a growth rate of 20 percent during the first six months of 2015, given that the market has slowed from an 11 percent growth in the first quarter to about 5 to 6 percent in the second quarter,” said Dragos Sirbu, Flanco Retail CEO.

In the first half of 2015, the best-selling electronics were large and small appliances, telecom products, televisions and laptops, while tablets and cameras recorded the lowest sale levels.

“Air conditioners have not sold as well as in previous years, on the one hand against the background of the Inverter technology emergence, which is more expensive, but also because the replacement cycle is long enough, and the market is well covered in big cities. On the other hand, it is a weather sensitive market, so we will be able to better appreciate its evolution in autumn,” Sirbu added.

Sales in Flanco were supported by consumer credit granted by financial partners of the company, which brings consistently up to 25 percent of total revenues. The company’s investment budget for this year is 25 percent over last year’s, amounting to about RON 10 million. Last year the company posted a turnover of EUR 150 million, and a net profit 61percent higher than in 2013.

In 2015 it reached a number of 90 units, following the opening of two new stores (Coresi Brasov and Mega Mall). The retailer is wholly owned by businessman Iulian Stanciu, who also has a 25 percent stake in Dante International, owner of eMAG.

Natalia Martian